Listen to Kimmel's last words: "HE DID ANSWER THE QUESTION."
Here's the transcript:>>
PRESIDENT-ELECT OBAMA: Wendell. Where? There you are. How are you?
Q Mr. President-elect, thank you very much.
You bet.
Q I'm just fine, sir. Thank you for calling on me.
Secretary Paulson has indicated that the initial tranche, initial half of the $700 billion Troubled Assets Relief Program that he is able to spend, without asking Congress, is almost gone, down to about $15 billion. I wonder if you are concerned that he may be well into the second half of that before you are sworn in, sir.
And if I also may ask the governor, what happened to the beard, sir? (Laughter.)
PRESIDENT-ELECT OBAMA: I'm going to answer this question about the beard. I think it was a mistake for him to get it -- get rid of it. I thought that whole western, rugged look was really working for him. (Laughter.)
For some reason, maybe because it was scratchy when he kissed his wife, he was forced to get rid of it. But we're deeply disappointed with the loss of the beard. (Laughter.)
With respect to TARP, until Secretary Paulson indicates publicly that he's drawing down the second tranche, the second half of the TARP money, it would be speculation on my part to suggest that that money is going to be used up.
Understand that in order for that second half to be released, it is necessary to notify Congress. And Congress has the ability to block it. I will say that my team has been reviewing very carefully how the TARP program has proceeded.
One of my central principles, when I, when I first examined the TARP proposal, was to insist that there was going to be strong oversight. The GAO report has now come out.
We're seeing some areas where we can be doing better, in making sure that this money is not going to CEO compensation, that it's protecting taxpayers, and that the taxpayers are going to get their money back; that it's effective in shoring up our financial markets.
And so what I can assure you is that my team is very active in reviewing what's already been done, to ensure that when we hit the ground running on January 20th, that any taxpayer money is going to be properly spent.
One last component of that that I think has to be emphasized, and I've said this before, we've got to start helping homeowners in a serious way prevent foreclosures. The deteriorating assets in the financial markets are rooted in the deterioration of people being able to pay their mortgages and stay in their homes. And if we help Main Street, ultimately we're going to help Wall Street. So that's an area that I'm particularly interested in.
All right? Okay. Thanks, guys.
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http://blogs.suntimes.com/sweet/2008/12/presidentelect_... Geesh! Some of the people on this thread!
