Congressional Oversight Panel

Discussion in 'Current Events' started by Zoom-boing, Dec 11, 2008.

  1. Zoom-boing
    Offline

    Zoom-boing Gold Member

    Joined:
    Oct 30, 2008
    Messages:
    25,059
    Thanks Received:
    7,258
    Trophy Points:
    260
    Location:
    East Japip
    Ratings:
    +10,109
    I saw this on CNN or FOX last night. They seem to want people's input and stories and questions. If anyone has anything to say, let 'em know!

    Congressional Oversight Panel

    "In response to the escalating crisis, on October 3, 2008, Congress provided the U.S. Treasury with the authority to spend $700 billion to stabilize the U.S. economy. Congress created the Office of Financial Stabilization (OFS) within Treasury to implement a Troubled Asset Relief Program (TARP). At the same time, Congress created a Congressional Oversight Panel (COP) to “review the current state of financial markets and the regulatory system.”

    COP is empowered to hold hearings, review official data, and write reports on actions taken by Treasury and financial institutions and their effect on the economy.

    Through regular reports, COP must:

    Oversee Treasury’s actions
    Assess the impact of spending to stabilize the economy
    Evaluate market transparency,
    Ensure effective foreclosure mitigation efforts
    And guarantee that Treasury’s actions are in the best interest of the American people.
    Lastly, Congress has instructed COP to produce a special report on regulatory reform that will analyze “the current state of the regulatory system and its effectiveness at overseeing the participants in the financial system and protecting consumers.”

    Congressional Oversight Panel
     
    • Thank You! Thank You! x 1
  2. RodISHI
    Offline

    RodISHI Gold Member

    Joined:
    Nov 29, 2008
    Messages:
    10,392
    Thanks Received:
    1,858
    Trophy Points:
    280
    Ratings:
    +5,047
    I am going to pass this on to some others I know too. Thank you.
     

Share This Page