Bunning Statement On Approval Of Full Oversight Authority For TARP Inspector General Neil Barofsky

Statement

Bunning Statement On Approval Of Full Oversight Authority For TARP Inspector General Neil Barofsky

U.S. Senator Jim Bunning today issued the following statement applauding the passage of legislation he co-sponsored with Senator Claire McCaskill (D-MO) that would give full oversight authority to Neil Barofsky who was confirmed on Monday to be Special Inspector General for the Troubled Asset Relief Program (TARP) at the Department of Treasury.

"I am glad the Senate has acted to ensure that Neil Barofsky has the full authority he needs as Inspector General for TARP to look into any mishandling of the bailout funds by Treasury," said Bunning. "I have said all along that the bailout would not work the way Secretary Paulson and Federal Reserve Chairman Ben Bernanke originally sold the plan to Congress. And since it became law they have completely changed course in the way they are using the program to bail out their buddies on Wall Street. I don't believe for one minute that Secretary Paulson has been straight with the American people in his handling of TARP. With the confirmation of Neil Barofsky and the passage of this legislation we now have someone in place with the necessary tools to hold Secretary Paulson's feet to the fire as well as anyone who succeeds him."

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