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Navigation Primary Navigation Home Singapore Asia Pacific World Business Entertainment Sports Technology Top Stories Most Popular Secondary Navigation Search Search: US financial rescue package 'not a panacea': Paulson AFP - Wednesday, November 19 WASHINGTON (AFP) - - The 700 billion dollar US financial bailout package is "not a panacea" to cure economic woes, US Treasury Secretary Henry Paulson told lawmakers Tuesday, amid growing calls for help for other sectors. "The crisis in our financial system had already spilled over into our economy and hurt it. It will take a while to get lending going and repair our financial system, which is essential to an economic recovery," Paulson said at a hearing of the House of Representatives Financial Services Committee. Paulson, Federal Reserve chairman Ben Bernanke and Federal Deposit Insurance Corporation chairwoman Sheila Bair were called to testify before the House panel about the 700 billion dollar Troubled Asset Relief Program (TARP) authorized by Congress last month to shore up the financial system Email Story IM Story Printable View Blog This Recommend this article Average (1 vote) Sign in to recommend this article » Most Recommended Stories » Enlarge Photo The 700 billion dollar US financial bailout package is "not a panacea" to cure economic woes, US Treasury Secretary Henry Paulson, seen here, told lawmakers, amid growing calls for help for other sectors. Most Popular – Top Stories Viewed Citigroup to slash 50,000 jobs, expenses worldwide Exercise, sleep cuts cancer risk: study Obama and McCain pledge 'new era of reform' Acinetobacter is emerging hospital superbug: study Earth would be heading to a freeze without CO2 emissions View Complete List » Search: Home Singapore Asia Pacific World Business Entertainment Sports Technology Top Stories Most Popular

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