U.S. GOVERNMENT PRINTING OFFICE
45–840
WASHINGTON : 2008
QUESTIONS ABOUT THE $700 BILLION
EMERGENCY ECONOMIC STABILIZATION
FUNDS
THE FIRST REPORT OF THE CONGRES-
SIONAL OVERSIGHT PANEL FOR ECO-
NOMIC STABILIZATION
DECEMBER 10, 2008.—Ordered to be printed
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(II)
CONGRESSIONAL OVERSIGHT PANEL FOR ECONOMIC STABILIZATION
PANEL MEMBERS
ELIZABETH WARREN, Chair
REP. JEB HENSARLING 1
RICHARD H. NEIMAN
DAMON SILVERS
1 Rep. Hensarling did not approve this report. See Press Release, Hensarling Statement
on First Congressional Oversight Panel Report, Office of Representative Jeb Hensarling (R–
TX), Dec. 9, 2008.
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(III)
C O N T E N T S
Page
Introduction ..............................................................................................................
1
Ten Questions from COP ........................................................................................
4
Ten Questions from COP: Discussion ....................................................................
5
1. What is Treasury’s Strategy? ......................................................................
5
2. Is the Strategy Working to Stabilize Markets? .........................................
8
3. Is the Strategy Helping to Reduce Foreclosures? ......................................
9
4. What Have Financial Institutions Done With the Taxpayers’ Money
Received So Far? .......................................................................................
11
5. Is the Public Receiving a Fair Deal? ..........................................................
12
6. What is Treasury Doing to Help the American Family? ...........................
14
7. Is Treasury Imposing Reforms on Financial Institutions That A