Obama vows new direction for TARP

From NBC's Lauren Appelbaum President-elect Obama today promised he will fundamentally change how the second half of the TARP money will be spent, expressing dissatisfaction in the management of the program thus far, particularly with the "failure to track how the money has been spent."   "I think many of us has been disappointed with the absence of clarity and the lack of transparency," Obama told both Mexican and American journalists after meeting with Mexican President Felipe Calderon at the Mexican Cultural Institute.   The president-elect said he has already been in contact with both Senate and House leadership regarding the TARP money and acknowledged, "Main Street has not seen the effects of these efforts" from the first half of the TARP money. He promised that the second half of the money would be spent more wisely -- aimed at helping maintain the credit flow for loans to small businesses, students and homeowners. ...( read more ) (link)