Jason - I think that, ultimately, the problem is that the bill may have created an 'oversight' panel, but they don't have any real authority to act upon Paulson. As I understand it, he has absolute authority over the bailout funds, and no one can stop him from doing anything he wants to. Case in point: the whole idea of the bailout was intended to cause banks to start loaning money again by buying up toxic assets. Just days ago, Paulson came out and said he would not be doing that. Congress can gnash their teeth all they want, but there's nothing they can do about it.
I would agree with you - if there are reports being issued to the Senate, those should be used as much as possible.
But, even if the reports show problems, who can do anything about it? No one.
Thanks for your comments!
When the bill was enacted a Congressional Oversight Panel was created to review the state of the markets, current regulatory system, and the Treasury Department's management of the Troubled Asset Relief Program..
So what is really the problem?
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