Senators: TARP may need another $300 billion

01/30/2009 | Financial Week

Senate Budget Committee Chairman Kent Conrad, D-N.D., and the committee's ranking Republican, New Hampshire Sen. Judd Gregg, say President Barack Obama may require another $300 billion for the Troubled Assets Relief Program to save failing financial institutions. The White House is considering a range of options to stem the financial crisis, including modifying existing home loans to avoid more mortgage defaults, as well as establishing a national bank to buy toxic assets.

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