Questions Raised Over Use Of Bailout Money
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Questions Raised Over Use Of Bailout Money
Questions are looming over the use of billions of dollars from the government bailout program.
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(January 9, 2009)--The head of a congressional panel overseeing the $700 billion bailout program says she is "shocked" that officials trying to follow where the money has gone still have many unanswered questions.

Harvard University law professor Elizabeth Warren, appearing on national television Friday as her panel released a critical report on the rescue fund, said Congress "may want to take a very hard look" at how the money has been used by the banks that got the bulk of the initial disbursements.

Warren told ABC's "Good Morning America" that the Treasury Department "didn't put any tracking mechanisms on it."

"They didn't tell the banks what they had to do in order to get the money. It might be used for lending, it might be used to buy other banks ... Or it might just be stuffed in vaults and left there,” she said.

Latest Comments

Posted by: Mike Location: Wichita, Ks on Jan 14, 2009 at 10:42 AM

I have been looking high and low to find out who has gotten bailout money and how much. I cant find anything. Do you suppose that this information is being deliberately suppressed??
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Posted by: kirby on Jan 9, 2009 at 05:30 PM

maybe people should be more concerned with the 8.5 trillion we've already promised to various companies and such or maybe they should be more concerned with henry paulson threatening congress with martial law after the bailout wasn't passed on the first attempt, maybe people should be more concerned with paulson, after getting his check, turning around and giving it to banks rather than buying up a single bad asset which the bailout was initially for, maybe people should be more concerned with ceo's of the bailed out companies giving themselves huge bonuses with OUR money. this bailout was a robbery and a distraction from the more larger and disgusting picture.
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