Watchdog says U.S. bailout too vague to oversee, measure

02/25/2009 | InvestmentNews (free registration)

Elizabeth Warren, chairwoman of the Congressional Oversight Panel, said the U.S. Treasury's latest plan to help banks "lacks crucial details," particularly on what to do with illiquid and distressed securities owned by banks. The broad framework laid out by Treasury Secretary Timothy Geithner fails to "provide an adequate foundation to oversee Treasury's activities," Warren said.

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