Congressman Paul Hodes' Statement On Special Inspector General Neil Barofsky Testimony On TARP

Statement

Congressman Paul Hodes released the following statement in response to Special Inspector General Neil Barofsky's testimony before the House Oversight and Government Reform Committee on his report on the misuse of Trouble Asset Relief Program (TARP) funds.

"Special Inspector General Barofsky's testimony confirms why I voted against TARP three times. It lacked transparency and oversight of New Hampshire taxpayer dollars. TARP continues to commit taxpayers to trillions more in spending without effective oversight. I urge more accountability and transparency for the taxpayers' dollars. The Treasury Department owes New Hampshire taxpayers an explanation on how their money was spent and why it went to enrich Wall Street and keep Main Street hurting."

The Office of the Special Inspector General for TARP is quickly becoming a sophisticated white-collar investigative agency. Through June 30, 2009, SIGTARP has 35 ongoing criminal and civil investigations. These investigations include complex issues concerning suspected accounting fraud, securities fraud, insider trading, mortgage servicer misconduct, mortgage fraud, public corruption, false statements, and tax investigations.

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