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. ww illinois

    We are on our way to recovery...we now have a President that can get things done!

    January 15, 2009 07:46 pm at 7:46 pm |
  2. Andrew

    I would hope these remaining funds go immediately into the plan to create new (even if temporary) jobs through the building of better infrastructure. We desperately need some sort of stimulus that puts the consumer back at work and starts feeding money back into the system at the base level. Let's prove that money trickles up faster than it trickles down.

    January 15, 2009 07:46 pm at 7:46 pm |
  3. I'm Independent now

    Too big to fail, or too many to jail?

    January 15, 2009 07:48 pm at 7:48 pm |
  4. vic

    Was there any doubt?????

    January 15, 2009 07:49 pm at 7:49 pm |
  5. James Hayes

    I'm appalled at the opposition of this one of the main leaders of the opposition is Sen David Vitter who is currently trying to save his reputation from the prostitution ring he was involved in.

    "This was a very serious sin in my past for which I am, of course, completely responsible," Vitter said in a statement after the phone records were posted Monday on Palfrey's Web site.

    Misery loves company and the "morally correct" conservative republican's should oust this waste of a public servant.

    January 15, 2009 08:00 pm at 8:00 pm |
  6. Farrell, Houston, Tx


    January 15, 2009 08:01 pm at 8:01 pm |
  7. James Hayes, NC

    Thanks to the change that has come to America! Please make us all proud and transparency you promised.

    January 15, 2009 08:03 pm at 8:03 pm |
  8. Stephanie

    wow, what about MY bailout. Now they are talking about a bailout for illegal aliens. are you kidding me????...
    can I revoke my citizenship so I can get freebies too and live the American dream

    January 15, 2009 08:04 pm at 8:04 pm |
  9. cmb


    January 15, 2009 08:05 pm at 8:05 pm |
  10. No Incumbents 2010

    Happy days are here again,
    We'll all get rich. We'll tax and spend.
    We'll give hand outs and buy new friends.
    Happy days are here again!

    All together now!

    January 15, 2009 08:19 pm at 8:19 pm |
  11. Henry Miller, Cary, NC

    Yes, by all means, lets bail out the CEOs who screwed things up in the first place.

    January 15, 2009 08:24 pm at 8:24 pm |
  12. Texas Teacher

    Whoa.. you mean after trusting Bush to put no limitations on what the Banks could do with that money... that they have decided to trust Barack Obama to do a better job....

    hell, he would have to be blooming idiot... which he is NOT... to even come close to the criminal behavior of Bush and camp... and I don't hear anyone calling him exactly what he is... and that is a black hearted criminal! Oh, no.... try to impeach Bill Clinton for marital indiscretions.. but turn a deaf and blind ear and eye to Bush? I have never been so disgusted with a President and his administration in my life... and I have seen them all the way back to Ike! Give me strength!

    January 15, 2009 08:31 pm at 8:31 pm |
  13. disgusted

    JK Ashburn, VA January 15th, 2009 6:00 pm ET

    More fuel for the incoming Socialists and their comrades in Congress. God Bless America, God Help America — this sure isn't it.
    Give it a rest. This plan was made by a Republican president and his economic team. This administration started with the Enron collapse and ended with the Wall Street collapse crushing regular people every step of the way.

    January 15, 2009 08:43 pm at 8:43 pm |
  14. a southern bell




    January 15, 2009 08:45 pm at 8:45 pm |
  15. legal in nc

    When this doesn't work the left sure can't blame Bush or the Republicans for it!!!

    And believe me it's not going to work!

    If the man in charge of it can't remember to pay his own taxes how is he going to know how to manage $350 billion?

    January 15, 2009 08:56 pm at 8:56 pm |
  16. Alicia

    @ JK....after the mess of the last eight (8) years, go hide under a rock. I am curious as to who the Dems were who voted no, as well as the Repubs who voted yes.

    For the NO VOTE Dems..........shame!

    For the YES VOTE Repubs......True Americans that care more about the country than their self interest.

    January 15, 2009 08:59 pm at 8:59 pm |
  17. D.Tin

    No more bailout money should be given to the banks...they are not using the money to help homeowners or potential home owners. Banks are still acting as if it's "business as usual", not offering any revision to their mortgage or refinance policies. The Treasury should create a financial institution, a bank, and provide direct refinancing and mortgage services to the public and leave the banks out of it.

    January 15, 2009 09:01 pm at 9:01 pm |
  18. Pat J

    Simmy January 15th, 2009 6:39 pm ET
    We've got ourselves a real President now!
    This man is about getting things done – I love it!

    Darlin' - I'll listen to you in 9 months!!!!!!!!!!

    January 15, 2009 09:03 pm at 9:03 pm |
  19. carol

    JK Ashburn..VA

    Just get over yourself will you , we will have a new Sheriff in town come Jan 20th and you better get used to it....all the right can say is socialism this and socialism that...well your way has worked beautifully the past 8 years has it not???

    January 15, 2009 09:10 pm at 9:10 pm |
  20. Liz

    Great! More wasteful spending and mismanagement of OUR money!

    January 15, 2009 09:10 pm at 9:10 pm |
  21. Hammer

    The only HOPE we have now is that we survive two years and get these nitwits out of office!

    January 15, 2009 09:14 pm at 9:14 pm |
  22. Sherrol in Canada

    Hopefully some of the money is spent on Main St, helping people that are facing foreclosure and are not able to renegotiate their mortgages.

    January 15, 2009 09:15 pm at 9:15 pm |
  23. gl, Pittsburgh

    Republicans are still evil people. They had know problem letting Bush and his Administrative spend our taxes dollars on wars we shouldn't be fighting, but don't wont to the the American People.

    January 15, 2009 09:23 pm at 9:23 pm |
  24. gl, Pittsburgh

    That way ever year the Republicans will continue to lose their sets and we the American people won't have to depend on their evil self who is only for the rich.

    January 15, 2009 09:26 pm at 9:26 pm |
  25. Alice Newman Center Harbor NH

    Socialists? Comrades? How comfortable to forget that the first part of the $700 billion was spent under the Republican's watch & leadership & administration. It was Bush appointees that didn't want any restrictions or supervision – which allowed AIG and their ilk to continue millions in bonus money for "a job well done."

    Only the very foolish ignore the past 8 years of poor decision making, rising deficits from the party of "borrow and spend" as in bridges to nowhere.

    Sad when labels like "socialists" and "comrades" are used to replace facts and thoughtful insights.

    January 15, 2009 09:30 pm at 9:30 pm |
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