The United States extended their bailout of the banking sector

The U.S. government on Wednesday extended Troubled Asset Relief Program (TARP), that is his plan to support the banking sector introduced in autumn 2008.

"I hereby certify that I extend until October 3, 2010 the powers" vested in the Ministry under the Act of Emergency Economic Stabilization, wrote Treasury Secretary Timothy Geithner in a letter to House Speaker of Representatives, Nancy Pelosi, and President of the Senate, Harry Reid.

The plan, which was to expire in late 2009, has helped save several major banks, insurer AIG, but also automakers through massive injections of liquidity. But these bailouts have cost less than expected, banks have repaid a portion of their debts.
Luttre against unemployment

Result: The TARP will be capped at 550 billion dollars instead of 700 billion originally planned, and used in 2010 to prevent foreclosures, financing of small banks, or to support SMEs.

Part of the fund could also finance the measures announced Tuesday by Barack Obama for employment, including extending unemployment benefits and aid to SMEs.

A draft 'plan to use' should be submitted to a vote soon in Congress.

At the close of European markets, Wall Street found some up, although it is true, helped by an unexpected rise in wholesale inventories in October. The Dow Jones is 0.25% while the Nasdaq remains stable.