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.
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Looks like the economy is going to stay in the crapper for the time being. I guess people do not learn from history that government bailouts and government programs do not help the economy but prolong economic suffering.
GOOD NEWS FOR ALL OF US .THEY HAVE SPEND JOBSSSSS
Thank goodness for that, can PE Obama now get his plan into action and do what he wants to get this country working again?
We've got ourselves a real President now!
This man is about getting things done – I love it!
This is how they voted:
For: 45 Democrats – 6 Republicans – 1 Independent
Against: 8 Democrats – 33 Republicans – 1 Independent
P.S. Shouldn't the "i" in Independent have been capitalized?
God bless Americans!
I hope this one goes to the people who need it, and not into the pockets of CEOs.
Why are they approving the use of this money when they still can't account for the money that has already been spent?
More tax payer money down the drain.
It will do nothing.
Yeah, now our kids can inherit more of a mess. If the government would just stay out of it, the economy will correct itself without the huge cost!
Hey JK you do know that it was Bush, a REPUBLICAN who took our tax dollars, well let me clarify that, he took our future tax dollars, borrowed from the Chinese to bail out the banks. Take off the blinders guy.
Finally...we will have a real president as of Tueday!
YOU CANNOT LEGISLATE THE POOR INTO FREEDOM BY LEGISLATING THE WEALTHY OUT OF FREEDOM. WHAT ONE PERSON RECEIVES WITHOUT WORKING FOR, ANOTHER PERSON MUST WORK FOR WITHOUT RECEIVING.
THE GOVERNMENT CANNOT GIVE TO ANYBODY ANYTHING THAT THE GOVERNMENT DOES NOT FIRST TAKE FROM SOMEBODY ELSE. WHEN HALF OF THE PEOPLE GET THE IDEA THAT THEY DO NOT HAVE TO WORK BECAUSE THE OTHER HALF IS GOING TO TAKE CARE OF THEM, AND WHEN THE OTHER HALF GETS THE IDEA THAT IT DOES NO GOOD TO WORK BECAUSE SOMEBODY ELSE IS GOING TO GET WHAT THEY WORK FOR, THAT MY DEAR FRIEND, IS ABOUT THE END OF ANY NATION.
YOU CANNOT MULTIPLY WEALTH BY DIVIDING IT.
Well we saw what bush did with his haqlf 9gave it to wall street and banks with no strings attached) now let us see what obama does with his half....
It is nice of Congress to release this tool for Obama to use if he feels it is needed, after all they allowed bush to have the option on the table to invade a soverign country if needed and that worked out sooo well.
idiots
Good. Now let's hope that this new president does not squander it as the old one did. I have faith in you Obama. Don't let me down. (Also, let's waterboard cheney and get those emails back...just kidding.)
We are the road to HELL! The politicians in Washington are going to spend OUR tax dollars anyway they want. God help the USA!!
I applaud the Senate for its' vote today. President elect Obama has enough problems to deal with/ Now he can at least have a little leeway on where the money will be best used.
He is a brilliant person and he will do well.
Our society and way of life as we know it is dying. No jobs, no prospects of being hired, an economy that is a mess, wars everywhere, and it feel like this country has been forsaken because rebuilding Iraq has been more important than rebuilding our own problematic infastructure.
Obama will need this money to help our countries situation and I can't imagine how he will figure out where to begin. The best thing about this transition is......we now have hope.
Accountability is the KEY, Isn't it?!!! Exactly what was done with the first $350 Billion ? Obama needs to be sure it was properly used and then make sure this batch is too! WE ARE TALKING ABOUT BILLIONS, FOR GOD'S AND OUR SAKES!!!
obama is great. may God help him
The Republicans are so battered that they brains are malfunctioning. George Bush has destroyed country,bodies,souls,and spirits. Go figure. Thank God for President Barack Obama a person for all seasons.
They will be wanting more Bailout Money sometime around June 09.
and, of course, we will approve it,
Great now let's see how that money helps the Average American citizen will the taxpayer get any of this money or will the coporate gluttons soak it up and expect us too still foot our debts with them.
Well not only will our grandchildren be paying on this,now our great grandchildren will be paying , too.
GOVERNMENT SPENDING DOES NOT GET PEOPLE WORKING. ONLY PRIVATE SECTOR SPENDING DOES THAT. DIDN'T WE LEARN ANYTHING FROM THE GREAT DEPRESSION? We're making the exact same mistakes. We're trying to SPEND our way to prosperity. Good luck with that!!
Thank God! Now PE Obama can get to work on maybe bringing our country back.
@JK Ashburn, VA .....incoming Socialists? LOL, the Socialists are now on their way out (the so called Republican Party members including Bush). They're the ones that increased government for the past 8 years as well as spending. There is an old saying though...you have to spend money to make it! I think PE Obama's plans will do just this.
Does Rick Warren know that the Church Age has come to an end ?
If you rebublicans could have stood together, you could have blocked this. Now these banks are free to cover up the rest of their fraud.
Thanks Guys.