The Obama - Clinton Disaster Message Board

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Politics : The Obama - Clinton Disaster

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To: Bill who wrote (4184)	12/31/2008 2:07:18 PM
From: DuckTapeSunroof	Read Replies (2) of 103300

Treasury Has Pledged More Rescue Funds Than Authorized online.wsj.com Treasury maxes out TARP funds: The Treasury has committed almost $9B more than the $350B of TARP funds it has been authorized to use. With Monday's announcement of $6B for GMAC, the Treasury's total TARP spending has reached $358.4B. "They are pushing the envelope here," complained Sen. Bernie Sanders. "What they are trying to do is create a situation to put pressure on Obama and the Congress to provide the next $350 billion." Treasury officials defended the agency, saying only $207B of the committed money has been disbursed thus far and that the agency is therefore working within the limits assigned by Congress. A Treasury spokeswoman declined to comment Tuesday on whether the newest commitments were based on the assumption that Congress would release the second installment, or would require reallocating money that had been promised to others. A spokeswoman for Mr. Obama's transition team declined to comment. Treasury Secretary Henry Paulson, in announcing the auto-rescue plan Dec. 19, said "it is clear" that Congress will have to release the second $350 billion tranche to maintain financial-market stability....

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