by Dave Rochelson
$700 billion of your money
WASHINGTON (RushPRnews)12/15/08-In case you have some questions about how the Treasury Department is spending the $700 billion of taxpayer dollars that Congress authorized, you’re not alone.The Congressional Oversight Panel (COP) is tasked with answering just that question.
Established by the same law that made the $700 billion fund available, COP is chaired by Harvard Law School Professor Elizabeth Warren — a bankruptcy expert who has written extensively about the credit crisis for the blog Credit Slips.
Over at COP’s homepage, COP.Senate.gov, she recorded a short video to tell you a little bit about the panel and the work they’ll be doing.
In their first monthly report, the panel lays out 10 questions about the use of the economic stabilization funds, including “Is the strategy working?” and “Is the public receiving a fair deal?”
To answer those questions, COP is going to be holding hearings with officials from the Treasury Department, the Federal Reserve, and elsewhere to make sure that your money is being put to good use. But they’re asking for your help and your involvement.
Watch the video, read the first monthly COP report, and share your story of how the economic crisis has affected you at COP.Senate.gov.