Finance Committee to Examine Status of TARP

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Senate Finance Committee Chairman Max Baucus (D-MT) “will convene a hearing on Wednesday to examine the state of the Troubled Asset Relief Program (TARP), which helped to stabilize the U.S. economy during the financial crisis,” according to a press release.

At Wednesday’s hearing Baucus will hear from expert witnesses from the three oversight bodies responsible for tracking the use of taxpayer dollars and ensuring transparency in the TARP program. Baucus fought hard to create the office of the TARP Inspector General to provide transparency and accountability in the TARP program, and he will highlight the importance of vigorously protecting the taxpayers interests at the hearing. Baucus will question the witnesses on the successes of the TARP program and ask them about the progress of efforts to pay back TARP losses.  The Committee will also examine the effects of the Wall Street Reform bill Congress recently passed on the TARP program.

Witnesses at Wednesday’s hearing include: Neil M. Barofsky, Special Inspector General (SIGTARP) for the United States Department of the Treasury; Elizabeth Warren, Chair of the Congressional Oversight Panel; and Richard Hillman, Managing Director of the Financial Markets and Community Investment Team at the United States General Accountability Office.

(credit image – daylife/associated press)

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Filed under Hearings, TARP

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