Weekend News Digest is an Open Thread
|From Yahoo News Top Stories|
1 Obama: How bailout money is spent should be clear
By PHILIP ELLIOTT, Associated Press Writer
28 mins ago
|WASHINGTON – Barack Obama wants to make it easier to monitor how the second $350 billion installment of the financial bailout is spent and says homeowners and small businesses should get some help.
“We can regain the confidence of both Congress and the American people in that this is not just money that is being given to banks without any strings attached and nobody knows what happens, but rather that it is targeted very specifically at getting credit flowing again to businesses and families,” the president-elect said in an interview aired Sunday.
Obama’s economic team has been talking with the Bush administration about having Treasury Secretary Henry Paulson ask Congress as early as this week for access to the rest of the bailout fund. If Congress rejected such a request, a presidential veto could still free up the money, unless Congress overrode the veto.