Bush won't make bailout request unless Obama asks, page 1
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Topic started on 12-1-2009 @ 08:56 AM by wylekat

Bush won't make bailout request unless Obama asks


news.yahoo.com
WASHINGTON – President George W. Bush says he's told President-elect Barack Obama that he'd be willing to ask for the additional $350 billion in financial industry bailout money, if Obama thinks that should happen while Bush is still in office.

But the president said Monday that Obama hasn't asked him to make the request, and that Bush doesn't intend to do so unless his successor specifically asks for it.

The Bush administration and Obama have both been appealing to uneasy lawmakers for the money.

Senate Banking Committee Chairman Christopher Dodd says he's been told the Obama team will be providing "specifics" on how the money will be disbursed.
(visit the link for the full news article)


reply posted on 12-1-2009 @ 09:32 AM by MajesticJax
reply to post by wylekat


I'm thinking the opposite. I think it speaks well of Bush that he's considering Obama's plans for the transition and doesn't want to interfere. I think he's leaving it up to him.



reply posted on 12-1-2009 @ 12:53 PM by Benevolent Heretic
Originally posted by RFBurns
Its a last minute, 11th hour "take the money and run" effort. Obviously no one has learned what happend after the last bailout.


Are you paying attention? This IS the "last bailout".


Are there jobs recovered? Are there mortgages recovered? Are there new industries and jobs that go with them created?


You agree with Obama, it seems:


MSNBC

"The president-elect also shares the frustration of the American people that we have seen too little effect from this rescue plan on jobs, incomes, and the ability of responsible homeowners to stay in their homes," Summers wrote. "He believes the American people are right to be angry with the way this plan has been implemented."
...
The letter spells out how Obama intends to use the Troubled Asset Relief Program to help community banks, small businesses, consumers and homeowners as well as large financial institutions. He also specified that Obama intends to launch a "sweeping effort" to mitigate foreclosures.


Yeah, Bush totally screwed up and let Paulson hand it out to the CEOs without oversight.



reply posted on 13-1-2009 @ 12:17 PM by jam321
reply to post by Benevolent Heretic


Yeah, Bush totally screwed up and let Paulson hand it out to the CEOs without oversight.


Was it not Congress who gave Paulson the extra powers? Was it not Congress that said they would have oversight on where the money went? Was it not Congress who wrote in the part about CEO's being unable to profit from this?


Seems to me Congress was the one who has and continues to drop the ball.


reply posted on 13-1-2009 @ 12:50 PM by centurion1211
Originally posted by jam321
reply to post by Benevolent Heretic


Yeah, Bush totally screwed up and let Paulson hand it out to the CEOs without oversight.


Was it not Congress who gave Paulson the extra powers? Was it not Congress that said they would have oversight on where the money went? Was it not Congress who wrote in the part about CEO's being unable to profit from this?


Seems to me Congress was the one who has and continues to drop the ball.


Yes.

And that would be the democrat controlled congress that gave Paulson the powers.
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