By Meena Thiruvengadam Of DOW JONES NEWSWIRES WASHINGTON -(Dow Jones)- The U.S. Treasury Department on Thursday defended its oversight of a rapidly evolving $700 billion government bailout of the financial sector.
In response to an article in Thursday's Washington Post, Treasury said it has worked with Congress to put into place strong oversight and transparency provisions. Additionally, the department said it has worked closely with onsite staff members of the Government Accountability Office and that it is prepared to work closely with a congressional oversight panel once it is established.
The Washington Post criticized Treasury, saying it has committed $290 billion of the $700 billion rescue package without taking formal action to fill independent oversight posts established by the legislation that created the Troubled Asset Relief Program. The Post quoted Treasury Inspector General Eric Thorson as calling the program "a mess."
Thorson is acting as interim special inspector general of the bailout program until the White House appoints someone to fill the position on a long-term basis.
-By Meena Thiruvengadam, Dow Jones Newswires; 202-862-6629; meena.thiruvengadam@dowjones.com
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(END) Dow Jones Newswires
November 13, 2008 17:43 ET (22:43 GMT)

Publié le 13 novembre 2008 Copyright © 2008 Dowjones