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Paulson may tap rescue fund, roll out new program: report

Mon Nov 24, 2008 11:30am EST

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(Reuters) - Treasury Secretary Henry Paulson is considering tapping the second half of the government's $700 billion financial-industry rescue fund, and rolling out new programs in response to worsening market conditions, the Wall Street Journal said, citing people familiar with the matter.

Barack Obama  |  Crisis in Credit  |  Economy

Among other things, Paulson is seeking ways to make it easier for households to borrow money and also looking for ways to reduce the burden of foreclosure on homeowners, the paper said.

The Treasury could not immediately be reached for comment on the report.

(Reporting by Ajay Kamalakaran in Bangalore; Editing by Greg Mahlich)
Barack Obama
Crisis in Credit
Economy


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