House Proceeding on Jan 21st, 2009 :: 2:12:50 to 2:14:50
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2:12:46 to 2:13:06( Edit History Discussion )

Barney Frank: and providg assistance to lawmakers. under the original bill, it was not clear that the inspector general had authority to look at these issues as well. this amendment will ensure that it does. in a november article in " washington post" the treasury's inspector general described the oversight of the current situation of tarp a mess. we need to make sure that the

2:12:50 to 2:14:50( Edit History Discussion )
Speech By: Barney Frank

2:13:07 to 2:13:28( Edit History Discussion )

Barney Frank: inspector general has sufficient authority to look over these other areas where tarp has gone. so with that i'll reserve the balance of my time. the chair: the gentleman from arizona reserves the balance of his time. for what purpose does the gentleman from massachusetts rise? mr. frank: to claim the five minutes that goes to someone in opposition. the chair: the gentleman is

2:13:29 to 2:13:49( Edit History Discussion )

Barney Frank: recognized. mr. frank: i thank the gentleman from arizona for his careful legislating. he's exactly rig. this amendment does make sure that the special i.g.'s oversight is equivalent to that of the tarp. . the problem has been that they have not required enough of the

2:13:50 to 2:14:11( Edit History Discussion )

Barney Frank: -- treasury hasn't required enough. the oversight mechanisms we put in there haven't seemed to me done some good. the special i.g. which was created. he was held up until the senate acted. he recently of his pledge to go forward. we also had very good oversight by the government accountability office. when members read about the

2:14:12 to 2:14:32( Edit History Discussion )

Barney Frank: failure of treasury to require the recipients of the capital infusions to do anyelending or tell how they were going to do that, that was documented by the government accountability office. in a very effective report which we had a hearing on. and the panel of appointees by the congressional leadership which includes the gentleman from texas, former senator from

2:14:33 to 2:14:51( Edit History Discussion )

Barney Frank: new hampshire, and three other very energetic citizens, they have also put out good reports. we have gotten some good oversight that tells us what they did wrong. but oversight only highlights that. it doesn't correct it. this legislation is informed to some extent by that oversight and hopes to build on it. the gentleman from arizona's amendment will make sure that the oversight continues to be