Kashkari: Rescue fund needs flexibility, firepower
WASHINGTON (AP) -- The head of the government's financial system rescue effort says it is critical that the program maintain adequate resources and flexibility to deal with unexpected challenges.
Neel Kashkari, the Treasury Department official who is in charge of the $700 billion rescue effort, says in congressional testimony that the administration believed it was critical the program maintain the flexibility and resources it needs to address new challenges as they arise.
He says those goals were essential for the Bush administration's remaining time in office, but also to leave the fund with the resources needed to meet challenges that will be faced by the incoming administration of President-elect Barack Obama.
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