Treasury pays $33.56B to 21 banks - WKOW 27: Madison, WI Breaking News, Weather and Sports

Treasury pays $33.56B to 21 banks

WASHINGTON (AP) -- The government says it has supplied $33.56 billion to 21 banks in a second round of payments from the $700 billion rescue program.

  The Treasury Department confirmed the second round of government stock purchases designed to bolster the balance sheets of the nation's banks to combat the worst financial crisis in more than seven decades.

  The new payments follow an initial $125 billion designated for nine of the country's biggest banks.

  The rescue program has now disbursed $158.56 billion with officials working to get more payments out to banks in coming weeks.

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