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.
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