January 30. 2009

According to recent reports, American banks are still in the red and are seeking another government financial bailout to assist in a possible recovery.

Bleeding banks prompt talk of new big U.S. bailout

Tue Jan 27, 2009 5:12pm EST - WASHINGTON (Reuters) - Major U.S. banks are still hemorrhaging red ink, despite massive taxpayer aid, and President Barack Obama is under pressure to take a high-stakes political gamble -- asking for another bailout.

Whether he would get one from a skeptical Congress is unclear, given the wide dissatisfaction with the first bailout, known as the Troubled Asset Relief Program, or TARP, a $700 billion fund to stabilize the banks and Wall Street.

http://www.reuters.com