This morning US Treasury Secretary Henry Paulson announced that some of the massive bailout package could be used to help consumers.
In his remarks, Paulson acknowledged that the bailout hasn’t delivered what he promised, when he asked Congress for the money last month.
He tried to make the case for the continuation of bank buyouts, but decided against the government buying devalued mortgages.
Dedrick Muhammed, with the Institute for Policy Studies, believes that what Paulson proposes is just more of the same.