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White House: No decision on seeking financial funds

WASHINGTON
Fri Jan 9, 2009 6:34pm EST

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WASHINGTON (Reuters) - The White House is talking to the incoming Obama administration about releasing the final allotment of a $700 billion financial market rescue fund, but a final decision has not been made, a spokesperson said on Friday.

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"There have been discussions between the administration and the transition team on how to proceed, should the President-elect determine that he would like President Bush to" seek the funds, spokeswoman Dana Perino said in a prepared statement.

A Treasury Department request is needed to release the second half of the funds that were part of a sweeping plan to calm markets. A report in The Washington Post said that the Bush administration and Obama team were coordinating a request.

(Reporting by Jeremy Pelofsky; written by Patrick Rucker; editing by Gary Crosse)
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