On Tuesday, February 5th, 2013, Congressman Kerry Bentivolio expressed his concerns stemming from the report of the Special Inspector General of TARP.
"The numerous prosecutions and successful convictions of those who broke the law and took advantage of American citizens show that the legal system works when it's applied to its fullest extent," Rep. Bentivolio said.
The Special Investigator General for TARP (SIGTARP) released a document on January 30th, 2013 demonstrating her progress on providing oversight into TARP. She wrote, "In 2012, SIGTARP, and its law enforcement partners, nearly doubled the number of individuals criminally charged as a result of SIGTARP investigations to 119 (including 82 senior officers), and nearly tripled the number of defendants convicted to 83, with others awaiting trial In the last few months, as a result of SIGTARP investigations with our partners, 13 defendants pled guilty to crimes. This includes the CEP and Vice President of a mortgage originator who pled guilty to a $27 million fraud scheme against TARP recipient BNC Bank."
"This is what happens when you mix big government with big business," said Rep. Bentivolio, "when rules get broken, it's the hardworking citizens of Michigan and across the country who get hurt. I applaud the Special Investigator General for TARP and look forward to the continued investigations."
Congressman Kerry Bentivolio (R MI-11) is a freshman member from Milford, Michigan and serves on the House Committee on Oversight and Government Reform. He urges the continuation on the investigation into any wrongdoing that may have stemmed from the Troubled Asset Relief Program initiated during the final months of 2008.