But "without a clearer explanation" about parts of the program, "it is not possible to exercise meaningful oversight over Treasury's actions," said Elizabeth Warren, a Harvard Law School professor who leads a special congressional oversight panel monitoring the TARP program. Her comments came in a Senate Finance Committee hearing on the bailout program.Dr. Warren, this is not a but, it's a feature.
Noting that TARP passed Congress six months ago, Warren said that her group has repeatedly called on the Treasury Department to provide a clear strategy for the program — and that "the absence of such a vision hampers effective oversight."
Geithner is a former Federal Reserve Bank of New York president. Opacity and secrecy are how they think that it's supposed to work.
That's the whole idea behind the Federal Reserve system.
No comments:
Post a Comment