Network News

X My Profile
View More Activity
2.7%  Q1 GDP    4.57%  avg. 30-year mortgage     9.5%  Unemployment

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.

-- Frank Ahrens
The Ticker is Twittering!

By Frank Ahrens  |  December 10, 2008; 12:57 PM ET
Categories:  The Ticker  | Tags: Barney Frank, Neel Kashkari, Treasury, bailout  
Save & Share:  Send E-mail   Facebook   Twitter   Digg   Yahoo Buzz   StumbleUpon   Technorati   Google Buzz   Previous: Senate GOP Puts up Road Block to Autos Bailout
Next: Kashkari Tries to Explain Collapse in Plain Language

No comments have been posted to this entry.

The comments to this entry are closed.

RSS Feed
Subscribe to The Post

© 2010 The Washington Post Company