To close the loop on yesterday’s post, here’s how the request for the second TARP installment came down, according to Bloomberg:
The action on TARP came after Bush, during what he said would be his last news conference before leaving office, told reporters he hadn’t gotten a request from Obama concerning release of the funds. “I told him that, if he felt he needed the $350 billion, I would ask for it,” Bush said.
The news conference ended at 10:04 a.m. yesterday. White House press secretary Dana Perino said the call from Obama making the request came at 10:25 a.m. The letter from Summers was released two hours later.
