Big Bailout Banks May Be Called Before Congress
Rep. Barney Frank (D-Mass.), holding a hearing of his Financial Services committee, which is grilling Treasury official Neel Kashkari on how he's handing out the government bailout, just said that he expects to hold a hearing that will summon the chief executives of the big banks that got bailout money.
Presumably, to ask them why they're using that money to maintain dividends and buy things instead of loaning it out at a rate acceptable to Congress.
The call for such a hearing came from a letter written by Rep. John Boehner (R-Ohio) and other House Republicans, which was read moments ago by Frank.
Frank made a joke, naturally, about how Republicans are late to the oversight party on the bailout money, but said he expected to hold such a hearing soon.
December 10, 2008; 12:57 PM ET
Categories: The Ticker | Tags: Barney Frank, Neel Kashkari, Treasury, bailout
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