Obama would spend last bailout funds on expanded lending, reducing foreclosures, lawmakers say
President-elect Barack Obama would spend the remaining $350 billion of a financial bailout fund on expanded lending and reduced foreclosures and would not use the money to help other industries, lawmakers said Wednesday after discussions with Obama emissaries. The Senate was set to vote Thursday on whether to release the money. Lawmakers insisted that Obama advisers put their assurances in writing before the vote. Seeking to secure votes from wary members of both parties, Obama... Full Story
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