WASHINGTON (Reuters) - A congressionally appointed panel that oversees the Treasury Department's $700 billion financial rescue fund is expected to release a report on Wednesday highly critical of how it has been handled, The Wall Street Journal reported on Tuesday.
The Journal, citing people familiar with the matter, also said the panel would push the Bush administration to act more aggressively to prevent foreclosures.
The newspaper said the oversight report due on Wednesday is not expected to contain any new findings. It said a draft of the report posed 10 questions, pressing officials for a clearer strategy, and asking whether there is sufficient accountability and why more hasn't been done to prevent foreclosures.
Elizabeth Warren, the Harvard University law professor who heads the congressional oversight panel, is scheduled to testify before the House of Representatives Financial Services Committee on Wednesday and is expected to discuss the report.
Rep. Jeb Hensarling, a Texas Republican who is also member of the panel, is also set to testify. The Journal said Republicans have complained privately that the panel has taken a partisan bent and said it was not clear if Hensarling was going to sign the report.
Caleb Weaver, a spokesman for the oversight panel declined to comment on the Wall Street Journal's report.
(Reporting by Tim Ahmann; Editing by Diane Craft)
http://www.reuters.com/article/businessNews/idUSTRE4B874820081209?feedType=RSS&feedName=businessNews&rpc=76&sp=true
Free Forum Hosting
Important Announcement
First 