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I guess he's too busy still campaigning to worry about how our tax dollars are being spent. Now its off to Europe. Yippee.
"Neil Barofsky, Special Inspector General for the Troubled Asset Relief Program, voiced similar concerns.
He noted that his office just conducted a survey of all 364 TARP recipients on their use of government funds, something they had requested Treasury do, only for the Department to decline to do so except in the cases of Citigroup and Bank of America.
"One thing is clear: complaints that it was impractical, impossible, or a waste of time to require banks to detail how they used TARP funds were unfounded," Barofsky said.
"The survey strongly supports my earlier recommendation to Treasury," he emphasized. "Banks can and should be required to report on their use of taxpayer money to provide maximum transparency and not simply be asked to report on the possible impact of the funds, such as giving only lending activity."
Ranking member Sen. Chuck Grassley, R-Iowa, said the administration needs to start living up to its promise to increase the program's transparency.
"Unfortunately, despite saying all the right things about open government, the new administration has not made any major changes aimed at making TARP more transparent," he said. "Moreover, I have heard about potential problems with access to information from all three of the oversight bodies testifying."
At this morning's hearing, such problems were emphasized time and time again by Warren. Her Congressional Oversight Panel will release their fifth report on TARP next week.
"As I see it, you really have two options here: either you get Treasury to get some religion on this point -- and put their own standards in place, or Congress is forced to step in," Warren said. "We will do everything we can on your behalf, as your congressional oversight panel, but what we can best do for you now is to identify and pinpoint that this is precisely where the problem starts. And then the problem has roll down effects all the way through the system of lack of accountability, complexity that no one can figure out what's going on, so that we never identify the place where we need to start the solution."
I guess he's too busy still campaigning to worry about how our tax dollars are being spent. Now its off to Europe. Yippee.
"Neil Barofsky, Special Inspector General for the Troubled Asset Relief Program, voiced similar concerns.
He noted that his office just conducted a survey of all 364 TARP recipients on their use of government funds, something they had requested Treasury do, only for the Department to decline to do so except in the cases of Citigroup and Bank of America.
"One thing is clear: complaints that it was impractical, impossible, or a waste of time to require banks to detail how they used TARP funds were unfounded," Barofsky said.
"The survey strongly supports my earlier recommendation to Treasury," he emphasized. "Banks can and should be required to report on their use of taxpayer money to provide maximum transparency and not simply be asked to report on the possible impact of the funds, such as giving only lending activity."
Ranking member Sen. Chuck Grassley, R-Iowa, said the administration needs to start living up to its promise to increase the program's transparency.
"Unfortunately, despite saying all the right things about open government, the new administration has not made any major changes aimed at making TARP more transparent," he said. "Moreover, I have heard about potential problems with access to information from all three of the oversight bodies testifying."
At this morning's hearing, such problems were emphasized time and time again by Warren. Her Congressional Oversight Panel will release their fifth report on TARP next week.
"As I see it, you really have two options here: either you get Treasury to get some religion on this point -- and put their own standards in place, or Congress is forced to step in," Warren said. "We will do everything we can on your behalf, as your congressional oversight panel, but what we can best do for you now is to identify and pinpoint that this is precisely where the problem starts. And then the problem has roll down effects all the way through the system of lack of accountability, complexity that no one can figure out what's going on, so that we never identify the place where we need to start the solution."
This was first reported on March 11th, so no new news that the oversight fell short from the very beginning, so traveling to Europe has absolutely nothing to do with the delay in oversight. The oversight has been a problem from the beginning according to Paulson, the problem stems from the ability to obtain information. This was before the transition of the new administration. Now the question is, have a new team been put into place to review and or obtain this information.
This was first reported on March 11th, so no new news that the oversight fell short from the very beginning, so traveling to Europe has absolutely nothing to do with the delay in oversight. The oversight has been a problem from the beginning according to Paulson, the problem stems from the ability to obtain information. This was before the transition of the new administration. Now the question is, have a new team been put into place to review and or obtain this information.
More defending the ONE. When will you swooners call him to task? Transparency.........remember that? I guess not. What about his website to track the stimulous money? What about him putting up any bill for five days for the public to read before he signs? What about all the tax cheats he's appointed? Has the man done anything right? Well I guess he did wipe his butt with his left hand like a good muslim the first day in the big house.
More defending the ONE. When will you swooners call him to task? Transparency.........remember that? I guess not. What about his website to track the stimulous money? What about him putting up any bill for five days for the public to read before he signs? What about all the tax cheats he's appointed? Has the man done anything right? Well I guess he did wipe his butt with his left hand like a good muslim the first day in the big house.
Obama is not worried about it. As obama put it quote " the Americans have a attention span this long, as he snapped his fingers".
There hasn't been transparency since the first bailout got passed. Why should anything change now.
Did you think the bankers would come clean ? Did you think the government could possibly keep track of that money when they can't even figure out their own budget ?
That money is gone and will NEVER be accounted for.
Obama is not worried about it. As obama put it quote " the Americans have a attention span this long, as he snapped his fingers".
It will take thousands starving in the streets for some of these folks to wake up. As long as they have their xbox and ipod's and cell phones most don't care what the hell is going on.
It will take thousands starving in the streets for some of these folks to wake up. As long as they have their xbox and ipod's and cell phones most don't care what the hell is going on.
This may come as a shock to you, but the President of the United States has multiple responsibilities, many of which need to be addressed at the same time. It would be irresponsible of him to shirk all other responsibilities until any given issue is resolved to the nation's satisfaction. I don't want a President who personally sits there and regulates TARP expenditures. That's a task that should be delegated to his underlings. He doesn't have to sit in a chair and wait around until they come back with their proposals. He can go do other things while he's waiting.
More defending the ONE. When will you swooners call him to task? Transparency.........remember that? I guess not. What about his website to track the stimulous money? What about him putting up any bill for five days for the public to read before he signs? What about all the tax cheats he's appointed? Has the man done anything right? Well I guess he did wipe his butt with his left hand like a good muslim the first day in the big house.
More of your refusal to read and need to immediately go on the attack, did you not see the last part of my post? if not go back and read it, if you have an anwer fine if not shut up. I'm so sick of your rants, even if someone has a question to try and get clarification you go on the attack if the response is not in your usual condoscending attack mode.
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bigmamma
