Statement on SIGTARP Report
April 21, 2009
Press Release
Washington, D.C.— Today, Congressman Elijah E. Cummings (D-Md.), a senior member of the House Committee on Oversight and Government Reform and a member of the Joint Economic Committee, released the following statement in response to the release of the quarterly report by the Office of the Special Inspector General for the Troubled Asset Relief Program (SIGTARP):
“When the Congress passed the Emergency Economic Stabilization Act of 2008, we understood that restoring our economy would require unprecedented programs and initiatives, and we created the office of SIGTARP to ensure that these programs are run effectively and efficiently, with transparency and accountability.
“Mr. Barofsky has done an exceptional job analyzing the various economic recovery programs that have been created over the past few months, and his commitment to protecting the best interests of the American taxpayer is clear. SIGTARP’s quarterly report identifies vulnerabilities in several programs intended to get our economy back on track, and I am confident that Secretary Geithner will carefully consider Mr. Barofsky’s recommendations as he addresses these concerns.
“With our new President came a new era of transparency, ethics, and accountability, and I am confident that this Administration is committed to maintaining the high standards it has set. By strengthening these programs, we are strengthening the taxpayers’ investment in our economy and strengthening our chance for a profitable return.”
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