Beverly Hills 2/11/2010 5:57:48 AM
News / Business

Geithner Says $700 Billion Bailout Could Cost Taxpayers Nothing

Finance World News Update by EQUITIES Magazine

U.S. Treasury Secretary Timothy Geithner said today that though the U.S. financial system avoided a complete meltdown, it is not yet up to full strength.

"The financial system is healing, but still damaged, and we have a lot of repair work still ahead," Geithner said. "If Congress joins the president in adopting a Financial Crisis Responsibility Fee, Americans will not have to pay one cent for TARP," he added, referring to President Obama's proposal to impose a tax on big banks and the Troubled Asset Relief Program, the bailout's official name.

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