U.S. Senator Jim Inhofe (R-Oklahoma), in a letter to his Senate colleagues, laid out his plan to push for legislation that will require Secretary Paulson’s plan for the remaining $350 billion in authorized Troubled Asset Relief Program (TARP) funds to be ratified by an affirmative vote in the U.S. Congress. In the letter, Senator Inhofe writes that the lame duck session provides Congress a tremendous opportunity to change course.
The Senator said Saturday (2008-11-15) that Congress was not told the truth about the bailout of the nation’s financial system and should take back what is left of the $700 billion “blank check” it gave the Bush administration.
“It is just outrageous that the American people don’t know that Congress doesn’t know how much money he (Treasury Secretary Henry Paulson) has given away to anyone,” the Oklahoma Republican told the Tulsa World. “It could be to his friends. It could be to anybody else. We don’t know. There is no way of knowing.”
Inhofe’s comments come after Paulson’s shift in how he thinks the bailout funds should be spent. Last week the Treasury secretary announced he was abandoning his plan to free up the nation’s credit system by buying up toxic assets from troubled financial institutions. Instead, Paulson wants to take a more direct action on the consumer credit front.
$350 BILLION in taxpayer money has been given away by Paulson and Congress does not know who he gave it to??? Did he give it to friends? Did he give it to businesses of friends who are stockholders in the companies? Who got it? NOBODY KNOWS !!! Thank you Senator Inhofe for demonstrating the courage to ask where our money is.
Additional References …
the DIGG button. Then, on the page that opens, click the
“digg it” button on the left side to vote on it. THANKS.