Friday, December 5, 2008

Dodd, Frank Warn Paulson May Not Get TARP’s Next $350 Billion

Paulson went begging on his knees to Congress for $700 billion then decided he was not going to spend all of it. At the same time he told lawmakers what he thought was the real intent of the legislation, despite it being clearly spelled out in the bill.

"The Treasury has ignored the 'clear congressional intent' of the TARP to reduce home foreclosures, Frank, a Massachusetts Democrat, told reporters yesterday after a speech at a Consumer Federation of America conference in Washington. “At the very least, he’d have to agree that some of that money was going to be used for foreclosure relief."

Paulson's a joke. Who'd give this guy any more money?

Read full article here.

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