Issa Request Prompts SIGTARP to Initiate Audit of Treasury’s Hardest Hit Fund |
Tuesday, 13 July 2010 10:32 |
On May 21st, Issa sent a letter to Treasury Secretary Timothy Geithner raising concerns regarding the program’s “opacity, waste, and poor planning” and that Treasury make available “basic information about how the projects subsidized by the Hardest Hit Fund will be proposed, evaluated, and assessed.”
“As with other foreclosure-mitigation programs, taxpayers are in the dark about how their money will be spent and whether the spending has been effective,” Issa wrote to Geithner. Treasury never responded to Issa’s letter. On June 23rd, Issa sent a letter to the SIGTARP, Neil Barofsky, requesting that his office “conduct an appropriate audit” given that Treasury had not “revealed, in a fully transparent manner, the scope and objectives of the state programs that will receive Hardest Hit Fund monies.” In light of these concerns, SIGTARP has announced that they will initiate an audit that will examine:
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