Banks recover, but the economy struggled in 2009
This is the VOA Special English Economics Report.
May be remembered in two thousand and nine in the world and avoid a recession.
United States, stock prices fell to their lowest levels in March But stocks rebounded strongly this year. The benchmark Standard & Poor's five hundred to more than twenty per cent - the largest increase in six years.
Completed in 2009, and ran the largest banks in the country to repay the funds in the Troubled Asset Relief Program, or TARP.
In October, two thousand eight, and Congress approved a maximum of $ 700000000000 to save the financial sector.
In December, the Treasury announced that the U.S. Wells Fargo, Citibank paid $ 45 billion. They were joined by Goldman Sachs, JP Morgan
Morgan Stanley and Bank of America in exchange for government assistance.
In June, has authorized the Treasury to the ten largest banks to return money to save and withdraw from the canvas. That banks are allowed to escape government restrictions on compensation for senior officials. Now the government has a large share holdings in the bank a large one, and Citigroup.
The Treasury Department says it expects banks to pay $ 175 billion of TARP funds this year.
It was for the automotive industry in the United States are also major problems in 2009. And requested Chrysler and General Motors bankruptcy and creditor protection. Rate institutions may still need assistance from the government, which has already more than sixty billion dollars.
But had increased on the government program that prompted the Americans to trade in old cars for new models of the economy in fuel consumption in car sales in the summer.
Denied Ford Motor Co. to assist the Government and is working to become profitable again in one of two ten thousand. There are signs that the industry begins to recover.
However, the continued housing market is suffering from its worst recession in generations.
Fannie Mae mortgage-funded reports that the payments more than five per cent of its loans to the family home and one in arrears. Unemployment rate of ten per cent means that a lot of people are struggling with their payments for the home.
However, consumer confidence rose in December. Experts say that Americans feel better about the labor market and the economy. Expected growth in the United States for up to about two and a half percent in two of the ten thousand.
This is your KUNA English Economics Report.
(Adapted from 01Jan2010 Radio program)
May be remembered in two thousand and nine in the world and avoid a recession.
United States, stock prices fell to their lowest levels in March But stocks rebounded strongly this year. The benchmark Standard & Poor's five hundred to more than twenty per cent - the largest increase in six years.
Completed in 2009, and ran the largest banks in the country to repay the funds in the Troubled Asset Relief Program, or TARP.
In October, two thousand eight, and Congress approved a maximum of $ 700000000000 to save the financial sector.
In December, the Treasury announced that the U.S. Wells Fargo, Citibank paid $ 45 billion. They were joined by Goldman Sachs, JP Morgan
Morgan Stanley and Bank of America in exchange for government assistance.
In June, has authorized the Treasury to the ten largest banks to return money to save and withdraw from the canvas. That banks are allowed to escape government restrictions on compensation for senior officials. Now the government has a large share holdings in the bank a large one, and Citigroup.
The Treasury Department says it expects banks to pay $ 175 billion of TARP funds this year.
It was for the automotive industry in the United States are also major problems in 2009. And requested Chrysler and General Motors bankruptcy and creditor protection. Rate institutions may still need assistance from the government, which has already more than sixty billion dollars.
But had increased on the government program that prompted the Americans to trade in old cars for new models of the economy in fuel consumption in car sales in the summer.
Denied Ford Motor Co. to assist the Government and is working to become profitable again in one of two ten thousand. There are signs that the industry begins to recover.
However, the continued housing market is suffering from its worst recession in generations.
Fannie Mae mortgage-funded reports that the payments more than five per cent of its loans to the family home and one in arrears. Unemployment rate of ten per cent means that a lot of people are struggling with their payments for the home.
However, consumer confidence rose in December. Experts say that Americans feel better about the labor market and the economy. Expected growth in the United States for up to about two and a half percent in two of the ten thousand.
This is your KUNA English Economics Report.
(Adapted from 01Jan2010 Radio program)
Banks recover, but the economy struggled in 2009
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