03/11/2009 05:12 am ET | Updated May 25, 2011

Summers: At Least $50 Billion In Treasury Plan For Housing Relief (VIDEO)

Larry Summers, President Obama's chief economic advisers, told George Stephanopoulos on ABC this morning that at least $50 billion in the Treasury's revamped bailout package will go towards cushioning the deteriorating housing market. Tim Geithner, the Treasury Secretary, was supposed to make a speech on his bailout plan Monday, but that has been postponed until Tuesday.

Read more Politico here. Watch Summers on ABC below.