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Coleman Calls on Senate to Move Quickly to Confirm Financial Oversight Watchdog

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Location: Washington, DC


COLEMAN CALLS ON SENATE TO MOVE QUICKLY TO CONFIRM FINANCIAL OVERSIGHT WATCHDOG

Coleman says confirmation hearings to appoint a Special Inspector General should begin immediately

As the top oversight position at the Treasury Department to safeguard the $700 billion financial rescue package remains open, Senator Norm Coleman today called on his Senate colleagues to immediately hold confirmation hearings to fill the vacancy. On Friday, the Administration nominated Assistant U.S. Attorney Neil M. Barofsky to become the Special Inspector General responsible for auditing and investigating how the funding is spent.

"Congress appropriated this funding over a month ago, and to allow another day to pass without the proper oversight in place is simply irresponsible," said Coleman. "We simply cannot wait until January to fill this critical position. So far, over $290 billion has already been committed to stabilizing the financial system. The American people need to know where and how their tax dollars are being spent. This funding was predicated on oversight, and the assurance that it would only be used to stabilize our financial markets. Therefore, the Senate must immediately hold confirmation hearings on the nomination of Mr. Barofsky to this critically important position."


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