June 18,2009

Grassley works to empower Special Inspector General for TARP to conduct

Senator Chuck Grassley issued the comment below about his letter to the Treasury Secretary asking for an explanation of the resistance of the Treasury Department to requests for information from the Special Inspector General for the Trouble Assets Relief Program. Senator Grassley was an advocate for creating a Special IG for TARP to try to hold the program accountable and co-sponsored legislation to strengthen the ability of the Special IG to conduct oversight after the TARP program changed its original mission. Earlier this year, Senator Grassley also battled the White House after it tried to subject requests of the Special IG to the red tape of the Paperwork Reduction Act.

A copy of Senator Grassley’s letter to Treasury Secretary Timothy Geithner is posted with this statement at http://finance.senate.gov and http://grassley.senate.gov.

Senator Grassley’s comment:

”The grassroots is furious about the way TARP dollars have been used and what looks like a lack of accountability for this massive infusion of tax dollars. It’s added injury to hear about the Treasury Department putting up hurdles to slow down the work of the watchdog who’s supposed to track the money. One of the biggest lessons of the last year is that the public deserves more transparency and, in turn, accountability from New York and Washington.”