U.S. Seeks Rest of Bailout Cash Call to Deploy Remaining $350 Billion Comes as Citi, Rivals Face Steep Losses

WASHINGTON -- President George W. Bush requested the second half of the $700 billion financial-rescue fund on behalf of President-elect Barack Obama, setting off a renewed political fight over the program as U.S. banks are set to report their worst quarterly results in years.

Mr. Bush's call came amid mounting concerns about big U.S. lenders that have already received huge injections of government funds. Bank shares fell sharply Monday on news that Citigroup Inc. is likely to report a larger-than-expected operating loss of $10 billion for the October-to-December quarter.More...

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