Obama Team to Broaden Bailout While Frank Seeks More Accountability

Government and Economy Obama Team to Broaden BailoutPresident-elect Barack Obama's economic team is broadening the mission of the $700 billion bailout for the financial sector, aiming to unfreeze credit for homeowners, consumers, small businesses and local governments. Frank Offers New Terms for Release of Bailout FundsRepresentative Barney Frank expects the House to act soon to impose conditions on the release of new bailout funds, mandating that at least $50 billion should be used to help avoid foreclosures. [Read Full Article]