President Barack Obama says he'll make sure taxpayer money is not being sent into a black hole through the financial bailout. At news conference at the conclusion of the Summit of the Americas in Trinidad, he was asked if the outcome of tests the administration is conducting on banks might result in the removal of some bank executives.
Obama said the administration wants to use as light a touch as possible. But he added that there needs to be ``transparency and accountability' in how the bailout money is used.
Obama says there are signs of recovery in the banking sector. But he says banks are still not lending at pre-recession levels and the economy is not out of the woods.