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Bush leaves Obama task of spending uncommitted $350B TARP funds

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Published November 17, 2008 at 4:02 PM
obama.jpgLooks like there will be something left in the checking account for President-elect Barack Obama, as the Bush administration said it's leaving the $350 billion in TARP money that's still uncommitted for the new president to use as he wishes.
 

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Citing an undisclosed source familiar with the matter, Bloomberg is reporting that Bush will defer to the next administration to request the remaining funds after Obama takes office on Jan. 20. With Democrats contemplating a bailout for the Big Three carmakers and Obama promising that he'll do "whatever it takes" to revive an economy that's swiftly sliding downward, he'll likely need it. - George White
 
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