WASHINGTON (AP) — Forty senators — all but one of them Republican — want the Obama administration to let the $700 billion financial rescue program expire by year’s end, saying the money has been used in ways not contemplated by Congress. In a letter to Treasury Secretary Timothy Geithner, the senators said the program’s unobligated funds should be used to reduce the national debt. The bailout initiative, called the Troubled Asset Relief Program, is scheduled to end Dec. 31, but Geithner could extend it to Oct. 3, 2010.–Contact The Daily Reveille’s news staff at [email protected]
Republican senators urge Treasury to end bailout program
September 20, 2009