Geithner to prepare stimulus guidelines
Published:Monday | February 2, 2009 | 1:30 PM
US President Barack Obama has instructed Treasury Secretary Timothy Geithner to prepare a set of guidelines for banks which are set to benefit from the stimulus package.
The president is said to be critical of bank executives receiving bonuses despite taking government bail-outs.
Mr. Obama has cited mismanagement for the trouble many US banks are now in.
He said some banks would not survive the current crisis.
The US president is scheduled to provide more details on his plan for the banking sector sometime next week.