Bush and Obama Teams Coordinating Theft of Additional Billions for Bankers
January 10th, 2009Change we can believe in.
Via: Washington Post:
Senior Bush administration officials are preparing to ask lawmakers for the second half of the $700 billion financial rescue package despite intense opposition in Congress and then use a presidential veto if the request is voted down, sources familiar with the matter said.
The initiative, which is being coordinated with President-elect Barack Obama’s transition team, may be taken within days, the sources said, speaking on condition of anonymity because no announcement has been made. But it remains unclear who would wield any veto. While Obama transition officials prefer that current administration issue it, the White House is declining to address that question.
Democratic Senate aides were notified in a meeting this afternoon that the request could come as soon as this weekend and that a vote could be held as soon as next week, congressional sources said.
Under the emergency rescue legislation approved by Congress in October, the administration must inform lawmakers that it wants access to the second installment of $350 billion. Unless Congress passes a resolution rejecting the request within 15 days, the Treasury can begin to tap the funds. If Congress does turn down the request, the president could veto the resolution and then the Treasury could proceed.
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Government sources say a majority of lawmakers on Capitol Hill now do not support handing over more rescue funds to either administration.
