Should Congress Approve the Second Part of the Wall Street Bailout?

[debbierlus]

Run time: 05:28 https://www.youtube.com/watch?v=GZwdiGVPxMQ   Posted on YouTube: January 12, 2009 By YouTube Member: Views on YouTube: 0   Posted on DU: January 14, 2009 By DU Member: debbierlus Views on DU: 349

 

I will be watching the allocation of this money closely.

[slipslidingaway]

1. K&R...

http://money.cnn.com/2009/01/12/news/bush.tarp/index.htm

Top aide to president-elect tells Congress it's urgent that $350 billion in remaining bailout funds be put to work. Bush makes formal request to lawmakers.

Colin Barr, senior writer
Last Updated: January 12, 2009: 10:23 PM ET

NEW YORK (CNNMoney.com) -- "President-elect Barack Obama made his case Monday to Congress for the release of $350 billion in remaining federal bailout funds.

A top Obama economic aide laid out new priorities for the use of the remaining balance under the Treasury Department's $700 billion Troubled Asset Relief Program, or TARP. In a letter addressed to the leadership of the Senate and House of Representatives, the Obama team strikes a note of urgency about winning the release of the funds.

"President-elect Obama believes it is not too late to change course, but it will be if we don't take dramatic action as soon as possible," says the letter, written by Lawrence Summers, director-designate of the National Economic Council..."