advertisement

U.S. Senate OKs McCaskill bill on financial oversight

Thursday, December 11, 2008 | 4:04 p.m. CST; updated 4:31 p.m. CST, Thursday, December 11, 2008

WASHINGTON — The Senate has approved Sen. Claire McCaskill’s bill to strengthen government oversight of the $700 billion Wall Street rescue plan, but its fate in the House is uncertain.

The Missouri Democrat says the legislation — passed late Tuesday — would help lawmakers make sure bailout funds are being spent wisely.

It would give the inspector general overseeing the plan unlimited access to audit funds spent under the program. The bill also requires a study of whether banks are using the funds they get to spur additional lending.

The House could vote on the measure if it goes back in session before the end of the year.

Earlier this week, the Senate confirmed New York prosecutor Neil Barofsky to be special inspector general overseeing the program.

 

 


Like what you see here? Become a member.


Show Me the Errors (What's this?)

Report corrections or additions here. Leave comments below here.

You must be logged in to participate in the Show Me the Errors contest.


Comments

Leave a comment

Speak up and join the conversation! Make sure to follow the guidelines outlined below and register with our site. You must be logged in to comment. (Our full comment policy is here.)

  • Don't use obscene, profane or vulgar language.
  • Don't use language that makes personal attacks on fellow commenters or discriminates based on race, religion, gender or ethnicity.
  • Use your real first and last name when registering on the website. It will be published with every comment. (Read why we ask for that here.)
  • Don’t solicit or promote businesses.

We are not able to monitor every comment that comes through. If you see something objectionable, please click the "Report comment" link.

You must be logged in to comment.

Forget your password?

Don't have an account? Register here.

advertisements