National

October 30, 2008 4:11 PM

Bailout funds being spent in ways Congress never foresaw

The $700 billion Wall Street rescue plan was intended to go to buying up distressed mortgages and other bad assets. Instead, it's gone to equity stakes in banks, and at least one bank used the money to buy a rival. It's also likely to be used to buy stakes in life insurance companies, and maybe to help struggling Detroit automakers. Some lawmakers whether what's happening serves the public interest.

Related content

Comments

Videos

More Videos

Watch 100-year-old Ida Keeling crush the 100 meter dash 01:03

Watch 100-year-old Ida Keeling crush the 100 meter dash

Harnessing the power of water to turn it into electricity 03:51

Harnessing the power of water to turn it into electricity

Alice Through The Looking Glass 02:29

Alice Through The Looking Glass

Valley Fever: What you need to know 01:18

Valley Fever: What you need to know

Seven ways to beat the heat 03:29

Seven ways to beat the heat

Tourist films breathless brush with Everglades panther 00:17

Tourist films breathless brush with Everglades panther

Gunman shot by police at U.S. Capitol 01:04

Gunman shot by police at U.S. Capitol

Washington D.C. cherry blossom trees reach peak bloom 01:08

Washington D.C. cherry blossom trees reach peak bloom

Human Rights Campaign president calls on Hollywood to abandon Georgia if HB 757 becomes law 02:23

Human Rights Campaign president calls on Hollywood to abandon Georgia if HB 757 becomes law

NCAA Tournament by the numbers: Basketball, betting and business 01:46

NCAA Tournament by the numbers: Basketball, betting and business

The Brothers Grimsby 01:24

The Brothers Grimsby

Share Video

Nation & World Videos