It’s been six months, almost to the day, since the TARP stimulus package was put into law. Last night, the Congressional Oversight Panel charged with monitoring the use of those funds and making sure the Treasury makes the right moves to stabilize the economy and the nation’s financial sector, issued a new report spelling out how the federal government is doing. The Takeaway's Todd Zwillich is here to give us a quick overview and we are pleased to have Richard Neiman, a member of the Congressional Oversight Panel, and the New York State Superintendent of Banks, joining us in the studio.
"We were at a precipice. We were at a risk of financial collapse. We averted that through those actions and now it's up to us to continue to focus on expanding the economy and to get the banks lending." —Richard Neiman of the Congressional Oversight Panel on helping the economy
For more about the COP, here is a video they just released to accompany their report called Assessing Treasury's Strategy: Six Months of TARP.