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Senate Releases Remaining $350B in Bailout Money

HeadlineJan 16, 2009

On Capitol Hill, the Senate has voted to release the second half of the $700 billion Wall Street bailout. The vote came despite ongoing concerns over a lack of oversight and accountability in how the money is dispersed. Following the vote, the Treasury Department announced an additional $118 billion infusion for Bank of America. The new money comes on top of the $25 billion Bank of America received under the first bailout installment. Meanwhile, Democratic leaders in the House have unveiled their version of an $825 billion economic stimulus package offering new spending and tax cuts.

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