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With the economy throwing one brick after another, and after the plundering of $350 million (a.k.a. known as the first half of the Tarp money blown on AIG executive junkets and the like), Obama wants to hit the court running.

Barack Obama expressed disappointment on Sunday with the Bush administration’s handling of the first $350bn tranche of the financial sector bail out and pledged greater support for struggling homeowners
once he takes charge of it.

His promise to overhaul the Troubled Asset Relief Programme (Tarp) came a day after the president-elect again expanded the goals of his proposed fiscal stimulus, which he now says could create or save up to 4m jobs over the next two years.

Aides to the president-elect are pushing the Bush administration to request the remaining $350bn of Tarp funds from Congress this week so the cash would be available soon after Mr Obama takes office Jan 20. The White House has acknowledged it was talking to the transition team about the possible release of the second tranche of Tarp funds but said no decision had been reached.