Obama Will Broaden Bailout Spending President-elect Barack Obama says he plans to broaden goals for using the remaining $350 billion financial bailout and insure transparency and oversight. Obama made the comments after a meeting with Mexico's president, Felipe Calderon. WASHINGTON -- Acting at Barack Obama's behest, President George W. Bush on Monday asked Congress for the final $350 billion in the financial bailout fund, effectively ceding economic reins to the president-elect in an extraordinary display of transition teamwork. Obama also sharply criticized Bush's handling of the money and promised radical changes. Bush's move sets the stage for Obama to get swift access to the $350 billion and the opportunity to overhaul the much-criticized rescue package after taking office next Tuesday. Obama said that it would be... [read full story]
