Obama Pledges Bail-Out Cash to Save Homes, Not Wall St; an Invitation to Obama's Inauguration in Washington Next Week. There Are Five Kinds of Tickets, Depending on the Proximity to the Stage

Byline: PAUL THOMPSON

FAMILIES faced with losing their home will be the first to benefit from a huge cash handout once Barack Obama is sworn in.

In requesting the second half of the $700 billion bail-out money agreed last month, Mr Obama said he will make a "fundamental change" to where the money goes.

Instead of it all going to Wall Street, which is what President Bush did with the first part of the cash, it will be diverted to help homeowners facing foreclosure and small businesses struggling in the economic climate.

An estimated 3,000 people a day face losing their homes as the credit crunch grips the US.

Mr Obama promised not to …

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Publication information: Article title: Obama Pledges Bail-Out Cash to Save Homes, Not Wall St; an Invitation to Obama's Inauguration in Washington Next Week. There Are Five Kinds of Tickets, Depending on the Proximity to the Stage. Contributors: Not available. Newspaper title: The Evening Standard (London, England). Publication date: January 13, 2009. Page number: 24. © Not available. COPYRIGHT 2009 Gale Group.

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