► Read the full article at Mother Jones: https://bit.ly/34chtvN
Before Elizabeth Warren was a senator from Massachusetts and a Democratic presidential candidate, she ran the Congressional Oversight Panel that was in charge of overseeing the $700 billion Troubled Asset Relief Program (TARP) bailout that Congress approved after Wall Street crashed in 2008. In that capacity, Warren, then a Harvard law professor, kept a close watch on where the money was going and crafted public reports that disclosed that the Treasury Department had overpaid $78 billion for assets it bought from failed banks and that large chunks of the money were not being used well. Last month, Congress passed a $2 trillion coronavirus bailout and assistance bill, and it contains a $500 billion fund—Representative Katie Porter (D-Calif.) calls it a “slush fund”—from which the Trump administration, at its sole discretion, can dole out money to big corporations in distress. What’s the best way to monitor this flow of billions? Warren, no surprise, has some ideas. So Mother Jones asked her for tips on the sort of oversight that must be done to ensure taxpayers and workers are not ripped off in this process.
#warren #coronavirus #bailout
For more award-winning independent reporting, visit Mother Jones: https://www.motherjones.com/