Obama Promises New Strategy to Revive Credit Markets (Bloomberg)

In this Jan. 5, 2009 file photo, then-President-elect Barack Obama, flanked by then-Treasury Secretary-designate Timothy Geithner, left, and then-Council of Economic Advisers Chair-designate Christina Romer, meets with members of his economic team at his transition office in Washington.  A report released earlier this month by Christina Romer, chairman of the White House Council of Economic Advisers, and Jared Bernstein, an economic policy adviser to Vice President Joe Biden, predicted that more than 90 percent of the 3 million to 4 million jobs Obama's proposed stimulus proposes to save or create would be in the private sector. But the report also estimated that 244,000 government jobs - some at the federal level, but more at the state and local level - would be created or saved.  That was based on a $600 billion stimulus package; the one being debated in Congress is more than $800 billion.   (AP Photo/Gerald Herbert, File)Bloomberg – Jan. 31 (Bloomberg) — President Barack Obama said his
administration is readying a plan to unlock credit markets and
lower mortgage rates, and vowed that company executives will be
stopped from siphoning money intended for economic recovery.


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