Stories for February 8th 2009

Sunday, February 8th 2009 - 20:00 UTC
US Congress panel claims Treasury “over paid” 78 bn to banks

The United States Congressional Oversight Panel says the government overpaid for distressed financial assets and shares last year. It says the US Treasury paid 78 billion US dollars more than it should when buying stakes in banks through the 700 billion US dollars Troubled Assets Relief Program (Tarp).
Sunday, February 8th 2009 - 20:00 UTC
Venezuela appeals to reserves to sustain public spending

Venezuela will spend 1.65 billion US dollars from its National Development Fund in the first quarter to sustain public spending after a drop in international crude prices and the global slowdown have affected the country, said President Hugo Chavez.
Sunday, February 8th 2009 - 20:00 UTC
The Economist eyes at Uruguay/Argentina: profiting from virtue

An article from The Economist (Feb. 5th), “Profiting from Virtue” praises Uruguay's prudent and orthodox economic policies, under the “leftish” government of President Tabare Vazquez and states the country is better placed to mitigate world recession than its neighbor Argentina.

US Congress panel claims Treasury “over paid” 78 bn to banks