February 9th, 2009
07:06 AM ET
6 years ago

Bank bailout plan postponed until Tuesday

NEW YORK (CNNMoney.com) - The "massive overhaul" of the banking bailout will be announced a day later than expected.

Treasury Secretary Timothy Geithner was originally scheduled to give full details about the changes to the rescue plan in a speech midday Monday. But the Treasury Department said Sunday that the plan will be announced Tuesday instead, in order for Geithner to focus on the stimulus bill that is being debated in the Senate.

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Filed under: economic stimulus • Timothy Geithner • Treasury
soundoff (52 Responses)
  1. Mari

    PLEASE...........PRESIDENT.......OBAMA...........NO............ MORE...........BANK..............BAILOUTS!!

    February 9, 2009 10:31 am at 10:31 am |
  2. Belle

    This is a really dumb question, but I am going to ask it anyway...
    Why are we voting on another stimulus package when the next $350 Billion has NOT been handed out yet?

    In light of the fact the Democrats have been in control of the Congress for the past two years...why wasn't the first stimulus spent the way it was presented...to shore up the housing market and buy up bad loans?

    If that happens, the market would stabilize and there would be no need to spend another 1.2 Trillion dollars we don't have.

    a concerned Democrat.

    February 9, 2009 10:33 am at 10:33 am |
  3. wwf

    I mean the banks. They did not do what they were supposed to do the first time. Why think it wil be any different now. On a side note. I find it interesting that both parties are wrong on the stimulus package, according to each party. Without a doubt, there are parts of it that should be taken out. I voted for Obama, and wish he would tell the house democarts, especially Pelosi to put a cork in it. The Republicans, especially McCain who voted big time for the 1st failed one now say no? I guess it boils down to which party is in the big house. I say it again. It is time to put party aside and listen to what the people who voted you in are saying. Of course I have a better chance of growing hair on my bald head than either party actually doing what they were voted in to do.

    February 9, 2009 10:34 am at 10:34 am |
  4. Worried Democrat

    Stop ripping us off!

    February 9, 2009 10:35 am at 10:35 am |
  5. Will-South Dakota

    Let these bank fail, why give them more money? If they can't make it on their own it comes down to survival of the fittest at their own greedy expense not on the backs of Americans.

    February 9, 2009 10:36 am at 10:36 am |
  6. Jan

    Why dont these republican idiots tell what is good instead of saying stimulus is bad.

    February 9, 2009 10:37 am at 10:37 am |
  7. Don't Hate Me Because I'm Beautiful

    "Just like our king Lembuagh says, we can't let 'that one' make history and take away our privileges with the corporations, so we'll just let the country suffer, go into a depression and position ourselves as heroes. 'WE' were just fine before that ______ was sworn in. He'll let the rest of the country benefit economically, especially in the 'urban' areas and with the poor. That's not in OUR plan!"

    RICH REPUBLICANS AND CORPORATIONS' STRATEGY TO DEFEAT OBAMA
    *POOR REPUBLICANS ARE EXPLOITED*

    February 9, 2009 10:38 am at 10:38 am |
  8. stop betting against your own interests!!

    stop investing in wall street!

    walk away from your upside down mortgages!

    close your bank accounts!

    stop buying corporate products!

    start growing your own food!

    we the people,

    not obama, who are surrounded and overpowered by AIPAC neo-con zionists,

    can stop the murderous thieves of wall street and corporate america!

    February 9, 2009 10:42 am at 10:42 am |
  9. Steve in Las Vegas,NV

    This time those who get a dime will have to follow all the terms, unlike the handouts from the BUSHCO regime. NO bonuses or golden parachutes either. And no buying other companies without full approval. This is to help the people and not themselves. Most of these problems came from one thing...GREED!

    I always thought a bonus was a reward for doing a very good job or was if the company did very well, not part of the compensation package. If I did what some of these guys did, run a company into the ground, I would be fired, not rewarded(if not arrested). .

    Some will say that a cap on executive pay is wrong while getting our taxpayer money is wrong, but they can live well on that...Most people can live on what they make and so can they until they get themselves out of the mess they helped create. When these companies have repaid the taxpayer funds (With interest too) then they can make all they want, not before!

    February 9, 2009 11:11 am at 11:11 am |
  10. jaye

    I trust Mr. Geithner, and feel he will do whats best for our country.
    I'm so sick and tired of all the gloom and doom from the GOP – they sound desperate and ignorant. Their message of fear has spread too thin, and the media needs to stop giving them so much airtime.

    February 9, 2009 11:18 am at 11:18 am |
  11. Lisa M

    Do NOT give any more of my money to the banks.

    In fact, I would like to have that money returned to the governement.

    Now for everybody else with their hand out wanting their share of the free money. No.

    Let the companies that cannot sustain themselves disolve and leave room for those that are ready to go.

    This is capitalism.

    Bailing out the corporations and banks, holding stock etc sounds like a large dose of Socialism.

    February 9, 2009 11:21 am at 11:21 am |
  12. llim

    Why are those underperforming CEOs still up there?
    Even with pay limit, how can these people help the company? Moreover, they mind the pay.

    If the good CEOs make mistakes and willing to withstand temporary pay cut and continue to help the company, then they deserve the chance.

    I believe with this high unemployment rate, the companies can lose lousy CEOs. Many qualified people will be willing to take half a million salary.

    February 9, 2009 11:24 am at 11:24 am |
  13. CA Indie for Obama

    If Geithner is waiting to see what is on the stimulus bill, it will be easier for him to avoid duplication of effort and fund allocations. As much as we need quick relief, the nation needs a program that addresses the needs of the economy more.

    February 9, 2009 11:25 am at 11:25 am |
  14. cooter

    This clown Geithner can't even handle his personal finances, or is he a crook? I don't know which. He certainly shouldn't be in the position he's in. This is gross incompetence on the part of the transition team.

    February 9, 2009 11:27 am at 11:27 am |
  15. Richard

    Government caused this mess not the CEO's. The only GREED I see is democrats taking money that they did not earn. The stimulus bill is a joke. They could pay off 90% of all mortgages instead of giving money to pet projects that won't help the economy and brankrupt America.

    February 9, 2009 11:35 am at 11:35 am |
  16. You said it mister!

    You said it Steve...I totally agree..no bonuses with bailout money.

    February 9, 2009 11:36 am at 11:36 am |
  17. disillusioned already

    Stop bailing out the businesses and bail out the people. Give us back our money and we'll solve the economy.

    February 9, 2009 11:40 am at 11:40 am |
  18. PJB

    What? Did the dog eat it? Further proof that they are just making it up as they go along.

    This guy was there for the Wall Street meltdown and the TARP I free-giveaway. We're counting on someone who doesn't even pay his taxes to save us? Unbelievable.

    February 9, 2009 11:45 am at 11:45 am |
  19. Jerry

    My wory: Do we have enough ink to print all the worthless "bailout" money?

    February 9, 2009 11:46 am at 11:46 am |
  20. obama-mama

    I don't believe the banks should get any additional money. They are not extending credit to hardly anyone. What's the use of giving it to them.

    February 9, 2009 11:48 am at 11:48 am |
  21. Ian in Phoenix

    No bailouts for banks. New system, new start. Put the money back into the people.

    February 9, 2009 11:56 am at 11:56 am |
  22. Virginia

    Steve,

    The bonuses which you are referring to in your blog are NOT from the bailout $$ that we taxpayers are paying for. I wish the media would disseminate the truth as to how big companies/businesses reward their top employees. It is a separate fund of $$ which once again, has nothing to do with the bailout $$.

    I agree with your others comments, but please CNN do something that some of your competitors did and disseminate the truth about these bonuses.

    February 9, 2009 12:00 pm at 12:00 pm |
  23. obama all the way

    NO more bailouts for selfish companies that caused these problems in the first place, help the people, it's going to take the people putting money back into the system for our country to work again, no more spending TRILLONS of dollars on a senseless war, no more big bonuses for people for doing their job, they are getting paid well, it should be plenty enough, let them pay for their own vacations and casino trips, the MAJORITY of Americans agree with President Obama, in AMERICA THE MAJORITY RULES.

    February 9, 2009 12:02 pm at 12:02 pm |
  24. Vicki

    Bail out the people!! Not the banks. I even think it would be cheaper to give every American family a quarter million dollars! I don't get why this isn't an option. I guess it's because no matter who is in the White House, greed wins for those running the government and their friends.

    February 9, 2009 12:03 pm at 12:03 pm |
  25. Hammer

    Unemployment went from 60,000 losses per month to 600,000 losses per month after Obama was elected president. That is how the business leaders reacted to the prospects of the Obama administration leading the country.

    February 9, 2009 12:05 pm at 12:05 pm |
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