Flurry of Activity on Bailout

WASHINGTON (AP) - President-elect Barack Obama continues to zero
in on the economy, just a week before he is sworn in.
Today, Obama's meeting with Senate Democrats and top aides are
getting ready for a meeting with Senate Republicans. They're
huddling ahead of a possible vote Thursday on whether to release
the second half of the $700 billion financial bailout fund.
The House Financial Services Committee has a hearing on the
program in advance of legislation offered by committee Chairman
Barney Frank of Massachusetts.
It would place tough new restrictions on recipients of the money
and require spending to reduce mortgage foreclosures.
Yesterday, President Bush acted on Obama's behalf and asked
Congress for access to the remaining $350 billion of the money it
authorized to rescue the nation's financial sector.


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