Treasury Secretary Tim Geithner defended his financial stabilization plan Tuesday, telling senators it is "fundamentally different" than the one pursued by his predecessor, Henry Paulson...Treasury has $320 billion available under the Paulson-era Troubled Asset Relief Program, though Tuesday's plan earmarked more than half of that for lending and housing programs.
"I think this is going to be a substantial problem for the nation that will require substantial resources," Geithner said Tuesday afternoon in response to a question from the committee's ranking member, Sen. Richard Shelby, R-Ala. "We will move to use existing resources as efficiently as possible."
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