WASHINGTON (12/10/08)—The House Financial Services Committee Tuesday announced the names of the four witnesses slated to testify today as the panel continues its study of how the U.S. Treasury Department has conducted its Troubled Assets Relief Program (TARP) program to date. Rep. Barney Frank (D-Mass.), who heads the committee, has criticized the Treasury for what he termed its “blatant refusal to enforce any lending obligations on individual institutions.” He has said the department’s “continued policy of ignoring the clear intent” of the of the Emergency Economic Stabilization Act (EESA), which authorized the creation of TARP, to “aid in the reduction of foreclosures” puts the Treasury “perilously close to a breach faith with those who responded to the Bush Administration's request to establish the program.” Scheduled to testify:
* Acting Comptroller General of the United States Gene Dodaro, U.S. Government Accountability Office; * Interim Assistant Secretary for Financial Stability and Assistant Secretary for International Affairs Neel Kashkari, Treasury; * Rep. Jeb Hensarling (R-Tex.), Congressional Oversight Panel under the EESA; and * Prof. Elizabeth Warren, Leo Gottlieb Professor of Law, Harvard University, and chair of the Congressional Oversight Panel.