Obama May Use TARP for Jobs
President Barack Obama said he is considering "selective" use of money from the Troubled Asset Relief Program to boost U.S. job growth and that some of the fund can be devoted to deficit reduction.
Obama is set to give an address tomorrow on measures to help create jobs, and momentum is building among Democrats in Congress to tap the $700 billion TARP program, which was created last year to shore up financially troubled banks. The Treasury Department expects the program to cost about $200 billion less than predicted.
Source: Bloomberg
