Obama Administration Will Unveil Bank Bailout Plan on Tuesday

During our interview on "This Week" President Obama's top economics adviser Larry Summers said the Obama administration will unveil its bank bailout plan on Tuesday of this week.

Treasury Secretary Tim Geithner had planned to unveil how the remainder of the $700-billion in TARP money will be spent on Monday.

However Summers said the administration wants to keep the focus on the stimulus wrangling.

"There's a desire to keep the focus on the economic recovery program," Summers said. "The focus will be on increasing credit flow with transparency, accountability and consistency we haven’t seen so far. Yes there will be support for struggling banks, the credit markets more generally, and support and pressure to assure these needless foreclosures are confined."

--George Stephanopoulos

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