Bush Said to Tell Aides He Won't Seek (Remaining) Bailout Funds

[girl gone mad]

Nov. 17 (Bloomberg) -- The Bush administration told congressional aides it won't ask lawmakers to release $350 billion remaining as part of the $700 billion U.S. financial- rescue package, people familiar with the matter said.

The administration of President George W. Bush ends in less than 10 weeks, and a delay in submitting a request to lawmakers would leave it to President-elect Barack Obama to tap remaining funds in the bailout fund.

``I think it is the right thing to do,'' Senator Richard Shelby, top Republican on the Senate Banking Committee, said today in a Bloomberg Television interview. ``I think we need to debate this. I think the American people need to know where the first $350 billion went, who benefited from it.''

Treasury Secretary Henry Paulson has been criticized by lawmakers for shifting the focus of the program to inject capital directly into financial institutions. His initial proposal presented to Congress called for buying troubled assets from the firms.

`Preserve the Firepower'

Paulson told the Wall Street Journal today he is unlikely to use what remains of the package, estimated at $410 billion, unless a need arises.

``I'm not going to be looking to start up new things unless they're necessary, unless they make great sense,'' Paulson said. ``I want to preserve the firepower, the flexibility we have now and those that come after us will have.''

http://www.bloomberg.com/apps/news?pid=20601087&sid=aXrNcRqcl94M

[louis-t]

1. Translation?

Anyone?

[hisownpetard]

2. It means Paulson doesn't know what he's talking about and never did. It means that the

$700 billion figure was pulled out of thin air (which we already knew), and air
is all we have to show for it.:nuke:

[barbtries]

3. i'll give it a shot

we've got all the money we want without it and we don't want to tell you where it's going.

[louis-t]

4. This is closer to what I thought..

We have a winnah!

[girl gone mad]

5. Or maybe now that everyone and their brother is re-incorporating as a bank..

to get their hands on the money, they want to close it down.

Too many people were starting to ask questions.

[MichiganVote]

Pushes away from the table like the Pig he and his friends are and says, "We're done".

Just pigging out from the taxpayer's trough for 8 years. He'll call himself decent for leaving a few billion crumbs.

[Atman]

6. Bush will claim he saved America $410 billion dollars. GOP will name airports after him.

:hi:

.

[NORMAN ROCKWELL]

7. All great points of interest

I just don't understand how any of this is going to stop the human slaughter;
we are all facing from FEMA. Simply look up FEMA in YouTube and be prepared to face your worst nightmares. Wake up, and do your research.