Bush consulting Obama on bailouts

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Mile Allen
November 24, 2008

With a CNBC clock counting down the minutes until President-elect Barack Obama announced his economic team in Chicago, President Bush appeared outside the Treasury Department on Monday morning with Treasury Secretary Hank Paulson to show they are still at the tiller.

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Bush warned there could be more bailouts to come, and said that on his flight back from an international economic summit in Peru on Sunday, he had talked with Paulson about “the decisions made to safeguard” Citigroup Inc.

“If need be, we’re going to make these kind of decisions to safeguard our financial system in the future,” Bush said. “I talked to President-elect Obama about the decision we made. I told the American people, and I’ve told the president-elect when I first met him, that any time we were to make a big decision during this transition, he will be informed, as will his team.

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This article was posted: Monday, November 24, 2008 at 12:00 pm

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