The Real Deal Miami

House questions bailout spending

December 10, 2008 04:39PM

Lawmakers at a Congressional hearing today told the
Treasury Department it needed to be more aggressive in its efforts
against home foreclosures. The House Financial Services Committee said
the Treasury
should more carefully monitor how banks use the federal money it
receives and should develop a broad plan that can be applied quickly to
the foreclosure problem. The committee most harshly questioned Neel
Kashkari, the Treasury’s interim assistant secretary for financial
stability, about foreclosures.