According to Holland & Knight, Steven Nesmith, President Bush, on Behalf of President-Elect Obama, Requests that Congress Authorize the White House to Spend the Second Half of the $700 Billion Troubled Asset Relief Program Financial Bailout Fund (Jan. 14, 2009), the new administration is to impose retroactive restrictions on financial institutions and provide relief for the housing market.
On January 12, 2009, President-elect Barack Obama requested that President Bush submit a request to Congress so that the remaining $350 billion of the Troubled Asset Relief Program (TARP) funds would be available quickly after the inauguration next Tuesday, January 20. President Bush agreed to make the request to Congress. A vote in Congress is likely to be soon, possibly this week.
Posted by Min Young Choi, Associate Editor, Wealth Strategies Journal.
On January 12, 2009, President-elect Barack Obama requested that President Bush submit a request to Congress so that the remaining $350 billion of the Troubled Asset Relief Program (TARP) funds would be available quickly after the inauguration next Tuesday, January 20. President Bush agreed to make the request to Congress. A vote in Congress is likely to be soon, possibly this week.
Posted by Min Young Choi, Associate Editor, Wealth Strategies Journal.
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