America, You Asked For It!

Political News and Commentary from the Right

Bailout watchdog: Where’s the spending plan?

By CHRISTOPHER S. RUGABER and MATT APUZZO, Associated Press Writers

WASHINGTON ā€“ The top watchdog for the government’s financial bailout said Thursday she’s frustrated by the Treasury Department’s refusal to explain how it’s doling out billions in taxpayer money.

Harvard professor Elizabeth Warren, the chairwoman of a congressional oversight panel, traveled to Washington Thursday to get answers on how Treasury is managing the unprecedented bailout.

In an interview with The Associated Press, the Democratic appointee said she doesn’t understand why it’s taken so long for the Bush administration to explain its plan. Warren said she doesn’t want to believe it’s because there never was a plan for spending $700 billion in taxpayer money to rescue banks.

“I don’t buy a winter coat without a plan,” she said. “I can’t imagine how someone could think they were going to repair a failing economy and undertake spending billions of dollars in taxpayer money without a plan.”

…(Read full article)

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December 19, 2008 - Posted by | Bailout | , , , , , ,

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