Strengthening TARP Oversight

Strengthening oversight of TARP is critical to ensuring that taxpayers' funds are protected and invested prudently. Today, the House passed a bill to expand the Special Inspector General's (SIG) authority to oversee the financial rescue program enacted last fall by the Bush Administration by:

allowing the SIG to audit or investigate any action taken under the financial rescue law

giving the SIG authority to hire more auditors and investigators quickly

requiring Treasury to explain why any recommendations by the SIG are not followed

mandating the SIG to report to Congress by September 2009 on how recipients of TARP funds are spending American taxpayer dollars

Rep. Dennis Moore (D-KS):

Rep. Jackie Speier (D-CA):

Rep. Maurice Hinchey (D-NY):