US Sen Levin To Subpoena Treasury TARP Contract With Citibank
Levin said Treasury officials promised to release the contract to him, but so far have failed to do so.
He said he wants to see what conditions, if any, Citigroup agreed to in exchange for the cash infusion. In particular, Levin said he wanted to see if the bank made any commitments to providing assistance to mortgage customers struggling to keep up with their payments, or to increase lending to customers.
Before he decided whether to support releasing the second tranche of $350 billion to the Treasury under the TARP program, Levin said he wanted to see what conditions have already been agreed to by banks participating in the program that haven't been met.
Levin is the chairman of the Permanent Senate Subcommittee on Investigations, a body that has a wide-ranging brief to investigate federal government activities.
-By Corey Boles, Dow Jones Newswires; 202-862-6601; corey.boles@dowjones.com
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Publié le 11 janvier 2009 Copyright © 2009 Dowjones
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