Lawmakers criticize Treasury's handling of TARP

12/11/2008 | Reuters · NYTimes.com

Congressional leaders want the U.S. Treasury to step up efforts to stem foreclosures. The Treasury has already committed all but $15 billion of the initial $350 billion it has at its disposal. Some lawmakers said they would consider withholding the second half of funds from the Troubled Asset Relief Program if the department does not commit to returning to the program's original intention. "We gave them money for one thing, and then they used it for another," said Rep. David Scott, D-Ga. Some lawmakers called for Neel Kashkari, the Treasury official charged with overseeing the program, to step down.

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Reuters · NYTimes.com

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