House Rejects Obama’s Request For Rest Of TARP

WASHINGTON — The House expressed its bipartisan anger over a massive financial bailout package Thursday as the Obama administration undertook to assure lawmakers that it would spend the remaining money prudently and with greater oversight than the Bush administration.

In a symbolic vote, the House voted to reject President Barack Obama’s request for the unspent $350 billion in a bailout fund for the financial sector. The 270-155 tally was a moot point because the Senate had refused to block the release of the money last week. That effectively made it available to the new administration.

Thursday’s vote illustrated how the House, where members face election every two years, is much more sensitive to public opinion than the Senate, with its six-year terms of office.(1)

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