Senate Approves Second TARP Tranche

There will be no drama or veto over the second half of the tranche. With Obama now for all practical purposes in power, the Senate easily approved the release of the remaining $350 billion. Despite the the near universal disdain for the TARP, it’s still risky to be on the other side of action, especially if the remaining half is more focused on helping homeowners (we’ll see).

AP: The 52-42 vote releases the money in the midst of rising foreclosures and a worsening climate for the nation’s banks. It marked Obama’s first legislative victory, days before he assumes office. The vote came amid strong opposition from critics of how the first $350 billion has been spent.

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