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Coffee Shop
Bailout!
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<blockquote data-quote="perda04" data-source="post: 616274" data-attributes="member: 2348"><p>What a disappointment:</p><p></p><p><a href="http://news.yahoo.com/s/nm/20090109/ts_nm/us_treasury_panel_4" target="_blank">Blowing $700 BN</a></p><p></p><p>WASHINGTON (Reuters) – The U.S. Treasury has done nothing to ensure a $700 billion financial bailout fund is used to stabilize the weak mortgage market, which caused the U.S. economic crisis, a congressional watchdog said on Friday.</p><p></p><p>Elizabeth Warren, who heads a congressionally appointed oversight panel, told ABC news there was no evidence the Treasury had used money from the Troubled Asset Relief Program to support the housing market by avoiding preventable foreclosures.</p><p></p><p>"There's just no money that's gone in that direction. This one's not even arguable," she said. "The TARP funds themselves have not been used in this way despite congressional statutes requiring them to do so."</p></blockquote><p></p>
[QUOTE="perda04, post: 616274, member: 2348"] What a disappointment: [url=http://news.yahoo.com/s/nm/20090109/ts_nm/us_treasury_panel_4]Blowing $700 BN[/url] WASHINGTON (Reuters) – The U.S. Treasury has done nothing to ensure a $700 billion financial bailout fund is used to stabilize the weak mortgage market, which caused the U.S. economic crisis, a congressional watchdog said on Friday. Elizabeth Warren, who heads a congressionally appointed oversight panel, told ABC news there was no evidence the Treasury had used money from the Troubled Asset Relief Program to support the housing market by avoiding preventable foreclosures. "There's just no money that's gone in that direction. This one's not even arguable," she said. "The TARP funds themselves have not been used in this way despite congressional statutes requiring them to do so." [/QUOTE]
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