Word: oversight
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Dates: during 2000-2009
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...Does that make sense?" in her Oklahoma drawl right after she finishes answering a question. During the hearing, which was focused on the federal bailout program's effect on corporate and commercial real estate lending, Warren gingerly tapped her gavel from the dais. "The hearing of the Congressional Oversight Panel will now come to order," she said a bit hesitantly. (See three questions about TARP for Warren's panel...
Follow the Money If the question hinges on whether Warren can say exactly how TARP money has been spent so far, then the answer is probably no - but then that may be an unrealistic goal. The eight monthly reports released by the oversight panel to date spend almost more time talking about what isn't known than about what is. They repeatedly assert that the Treasury Department and the Federal Reserve should be more forthcoming...
...seem to take the panel seriously at first. In an "Additional View" filed with the panel's June report, Republican panel member Jeb Hensarling wrote, "By choosing to focus much of its work on issues not central to our mandate the panel has missed critical opportunities to provide effective oversight...
...past. She argues that now, finally, taxpayers "have a seat at the table." If this sounds like advocacy, that might be exactly what Democratic Party bosses had in mind when they selected her. Since a special inspector general was also appointed to investigate Treasury's actions, Warren's oversight panel was left with little actual power. But it performs a much more public function. Though some of the panel's reports have been less than revelatory, there have been some worthy and newsmaking insights, like the suggestion that for every $100 Paulson spent buying stakes in troubled banks, the government...
Warren's concern for the middle class is the prism through which she sees every economic indicator. It is also the driving force behind her work with the oversight panel. The first two reports it issued, in December and January, criticized Paulson's department for its lack of transparency and argued that its policies were doing little to help reduce home foreclosures or alleviate stress on families. Even if accurate, those early pronouncements did not help to pave the way to a functional working relationship between Warren and the people she was supposed to oversee. Former Treasury officials seem...