Green Room

Grassley Grills Obama’s Nominee Over TARP Oversight, AIG Payments

posted at 1:32 pm on July 22, 2009 by

Yesterday, Neil Baroffsky — SIGTARP, special inspector general for the TARP bailout — raised hell in a House Oversight Committee hearing. Today, on the other side of Capitol Hill, Sen. Chuck Grassley turned the flamethrower of “transparency” on a luckless Obama nominee:

Sen. Chuck Grassley, ranking member of the Committee on Finance, is seeking assurances from the Treasury Department that oversight of the $700 billion financial bailout program is as strong as possible.
Grassley asked for answers from a key Treasury nominee before the committee is scheduled to vote on the nomination.
 “Nine months into this program, the Treasury Department has repeatedly failed to adopt recommendations that the special inspector general says are essential to basic transparency and fulfilling Treasury’s stated commitment to spend $700 billion ‘with the highest degree of accountability and transparency possible,’ ”
Grassley said.
“The inspector general says there are at least four major recommendations that have not been adopted.
Treasury needs to explain to taxpayers why it’s easy to spend money but impossible to account for it.”
Last night, Grassley posed a series of follow-up questions to George Madison, nominated to be general counsel for the Department of the Treasury, and asked for answers by Thursday morning, when the Finance Committee is scheduled to vote on whether to recommend the nomination to the full Senate.

Read the whole thing. Meanwhile, you should check out the statements and documents from yesterday’s House hearings with SIGTARP Barofsky:

Add this to yesterday’s Hot Air IG-Gate Update, this morning’s Mother of All IG-Gate Updates, and certainly more to come at The Other McCain.

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