12/8/09
Treasury Secretary Timothy Geithner plans to tell Congress that the Obama administration will extend the $700 billion financial-rescue program until next October, people familiar with the matter said.
While the Troubled Asset Relief Program expires on Dec. 31, Geithner can extend it by notifying Congress. A letter notifying Congress of the extension could come as soon as tomorrow, said the people, who declined to be identified.
In public comments about the program over the past several weeks, Geithner has cautioned that shutting it down too soon could hurt the economic recovery.
