Monday, January 12, 2009

Obama's Money Now

Maybe they can spend some of it to find out what happened to the first $350 billion.

WASHINGTON (AP) -- The White House says President George W. Bush has asked Congress to release the remaining $350 billion intended to help the nation deal with its financial crisis.

White House press secretary Dana Perino said Bush acted on a request of President-elect Barack Obama. She said the Bush White House will continue working with Obama's transition team and with Congress on how best to proceed on the release of the money.

The idea is to make the money available to the new administration shortly after Obama takes office Jan. 20. The unpopular bailout has featured unconditional infusions of money into financial institutions that have done little to account for it.