{"id":9852,"date":"2009-02-11T00:00:00","date_gmt":"2009-02-11T00:00:00","guid":{"rendered":""},"modified":"-0001-11-30T00:00:00","modified_gmt":"-0001-11-30T04:00:00","slug":"obamas-stimulus-package-approved-by-senate","status":"publish","type":"post","link":"https:\/\/hedgeco.net\/news\/02\/2009\/obamas-stimulus-package-approved-by-senate.html","title":{"rendered":"Obama’s Stimulus Package Approved by Senate"},"content":{"rendered":"

West Palm Beach (HedgeCo.net) – President Barack Obama’s $838 billion stimulus plan was approved by the U.S. Senate as part of a plan of action the Senate hopes will revive the collapsing US economy.<\/p>\n

$100 billion is to be alotted to hedge funds or other investors, giving them incentive to purchase so-called toxic assets. President Obama welcomed the 61-37 vote as "good news. It’s a good start." <\/p>\n

Outlining a few details of how the administration would spend the remaining $350 billion of the $700 billion bank bailout program, Treasury Secretary Timothy Geithner separately announced a new public-private partnership to help strengthen banks.<\/p>\n

"Critical parts of our financial system are damaged," Geithner said. "The financial system is working against recovery and that’s the dangerous dynamic we need to change."<\/p>\n

In a related government commitment of financial support, the Federal Reserve broadened a program designed to boost resources for consumer credit and small business loans – from $200 billion up to $1 trillion. Additionally, Obama has campaigned to include funds for school construction in the bill.<\/p>\n

Alex Akesson<\/span><\/p>\n

Editor for HedgeCo.Net
Email: alex@hedgeco.net<\/u><\/a> <\/span><\/p>\n

\n
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HedgeCo.Net is a premier hedge fund database and community for qualified and accredited investors only. Membership on www.hedgeco.net<\/a> is FREE and EASY. We also offer FREE LISTINGS for Hedge Funds!<\/p>\n<\/div>\n<\/div>\n

 <\/p>\n

<\/span> <\/p>\n","protected":false},"excerpt":{"rendered":"

West Palm Beach (HedgeCo.net) – President Barack Obama’s $838 billion stimulus plan was approved by the U.S. Senate as part of a plan of action the Senate hopes will revive the collapsing US economy. $100 billion is to be alotted […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3],"tags":[1004,4439,7335,4482,4314,509,7336,4393,588,7334,7337,7333,3566,7332,2341,236,5841],"class_list":["post-9852","post","type-post","status-publish","format-standard","hentry","category-hedgeco-news","tag-accredited-investors","tag-assets","tag-bank-bailout","tag-barack-obama","tag-consumer-credit","tag-federal-reserve","tag-government-commitment","tag-hedgeco","tag-palm-beach","tag-public-private-partnership","tag-school-construction","tag-small-business-loans","tag-stimulus-plan","tag-timothy-geithner","tag-treasury-secretary","tag-trillion","tag-u-s-senate"],"_links":{"self":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/9852","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/comments?post=9852"}],"version-history":[{"count":0,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/9852\/revisions"}],"wp:attachment":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/media?parent=9852"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/categories?post=9852"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/tags?post=9852"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}