Even TARP watchdog clueless where taxpayer money's going
Talented and accomplished Harvard business law professor Elizabeth Warren is currently serving as “TARP watchdog,” a role she finds extremely frustrating because the Treasury is keeping her in the dark. Prof. Warren just testified before the Senate:
“We do not seem to be a priority for the Treasury Department,” said Warren.
She added that the administration’s failure to ask for more accountability has led to a situation that is difficult to oversee. “This problem starts with Treasury,” she said…
Warren argued that “continuous subsidization without vigorous oversight is exactly what got us into this.” She complimented the administration’s oversight of the auto industry, but contrasted it with the lack of the same with regard to the banks.
Posted by James on Wednesday, April 01, 2009