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The article reports that U.S. President Barack Obama acknowledged the government has recovered most of the bailout money to banks and other financial firms.

The article reports that U.S. President Barack Obama has signed into law the $787 billion stimulus package pledging that it will create or save more than 3.5 million jobs.

The article reports on the appeal of New Jersey Governor Jon S. Corzine to the U.S. Congress to legislate an economic stimulus package for $1 trillion in aid for two years. Accordingly, in his testimony on the hearing, the governor has called for stimulus package on operating costs of states and Medicaid and food stamps, infrastructure projects, and tax relief. Further, the hearing came after most governors have met with President-elect Barack Obama concerning the stimulus bill.

The article reports that U.S. House Financial Services Committee Chairman Barney Frank said that more government bailouts of companies and financial institutions might be necessary to help stabilize the economy. He has announced plans to hold a hearing to examine the need for additional intervention. Both presidential nominees, John McCain and Barack Obama, have called the bailout necessary. However, House Minority Leader John Boehner said that more bailouts should be avoided.