January 15th, 2009
04:58 PM ET
14 years ago

Senate approves release of additional $350B for bailout

WASHINGTON (CNN) - The Senate voted Thursday afternoon to release the remaining $350 billion dollars of the Troubled Asset Recovery Program (TARP) bailout fund.

The Senate's 52-42 rejection of a resolution of disapproval on the release of the funds means that President-elect Barack Obama can spend the money with no additional restrictions.


Filed under: Candidate Barack Obama • Economy • Senate
soundoff (81 Responses)
  1. Proud American

    Bright group of senators.

    January 15, 2009 05:05 pm at 5:05 pm |
  2. FAYE OF NEVADA

    Way to go Sens, please support the President Elect Obama. We have gone as low as possible, let's begin a upward journey.

    January 15, 2009 05:05 pm at 5:05 pm |
  3. Soccer Nana

    Good; now let's get to work.

    January 15, 2009 05:06 pm at 5:06 pm |
  4. Chris E

    Why is the Senate now so concern about the money? Thye issue of $350 billion to top CEOs and they have no idae as to what they did with the money, now when PE Obama ask about the money you want to give hime issues about it, Go and find out what the the CEOs do with the money the only thing that the Senate did was made the rich RICHER and the poor well you now still the same POORER

    January 15, 2009 05:07 pm at 5:07 pm |
  5. dmjakers

    Only the morons of the Republican party would have argued that Bush's mishandling of the first half of the TARP money is reason to block Obama's access to the latter half.

    January 15, 2009 05:11 pm at 5:11 pm |
  6. Matt

    give us the vote-by-party breakdown

    January 15, 2009 05:15 pm at 5:15 pm |
  7. BUSH BEGONE IN 5 DAYS!

    Excellent, the Senate is actually learning to work together for the betterment of America!

    January 15, 2009 05:16 pm at 5:16 pm |
  8. jfs Memhis, Tn

    GREAT......now we really need his Treasury Sec. appointed. I guess this is one point for Team Obama.........

    January 15, 2009 05:16 pm at 5:16 pm |
  9. Obama is not my Hero!

    What the report should have said is that Obama can now spend TAX PAYERS money with no restrictions. Obama and his fans can veto these...!

    January 15, 2009 05:16 pm at 5:16 pm |
  10. Nee

    I hope with extended accounting restrictions... the American people are doing poorly, and these people are receiving a super welfare bailout.

    January 15, 2009 05:18 pm at 5:18 pm |
  11. Nee

    If no accountability, then DO NOT count on my vote.

    January 15, 2009 05:19 pm at 5:19 pm |
  12. God Help us

    I knew the news was blowing that way out of proportion

    January 15, 2009 05:20 pm at 5:20 pm |
  13. Charlotte

    Let's cross our fingers and hope it doesn't turn into another carte blanche for financial institutions.

    January 15, 2009 05:20 pm at 5:20 pm |
  14. Baze

    I guess a veto won't be necessary after all

    January 15, 2009 05:20 pm at 5:20 pm |
  15. Rob

    The chosen one will spend it wisely !

    January 15, 2009 05:24 pm at 5:24 pm |
  16. J. Parham

    I voted for Obama because I believe in his vision and plan for America. I 'm relieved the senate has agreed give him an opportunity to fulfill that vision. He can't do any worse than Bush!

    January 15, 2009 05:24 pm at 5:24 pm |
  17. dimes

    No additional restrictions? However you feel about the TARP funds this is a big mistake. The first 350 Billion had no oversight and now the next 350 Billion will not have oversight. Another great job by the Democratic Congress!

    January 15, 2009 05:25 pm at 5:25 pm |
  18. No Incumbents 2010

    Remeber 42 Senators need to be re-elected.

    January 15, 2009 05:31 pm at 5:31 pm |
  19. MikeH

    Republican scum wouldn't vote for the release unless their fat cat banker friends got more money for bonuses and trips to Barbados.

    Next up, tax increases for the fat cats, tax cuts for the productive workers

    January 15, 2009 05:36 pm at 5:36 pm |
  20. Hammer

    Better get ready for more sellouts. The Dems are in charge and the only way they know to solve a problem is to throw money at it, especially taxpayer money.

    January 15, 2009 05:39 pm at 5:39 pm |
  21. John Smith - CA

    wow!!!

    Already great success before he even takes power.

    Go President-elect OBAMA

    January 15, 2009 05:40 pm at 5:40 pm |
  22. Scott L

    Obama is a windbag. Pelosi is even worse.

    Funny how the first bailout did NOTHING for our economy and now we are doubling down. Is anyone even paying attention?

    Morons. Congratulations, you elected the Planter's Peanuts club to office.

    January 15, 2009 05:43 pm at 5:43 pm |
  23. Scott Tucson

    Just more of our hard earned tax dollars going down a black hole.

    January 15, 2009 05:46 pm at 5:46 pm |
  24. Niky

    Obama.... please use this money wisely. Thanks!

    January 15, 2009 05:51 pm at 5:51 pm |
  25. JK Ashburn, VA

    More fuel for the incoming Socialists and their comrades in Congress. God Bless America, God Help America - this sure isn't it.

    January 15, 2009 06:00 pm at 6:00 pm |
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