TARP Oversight Panel Initial Report: Beside the Point, As Expected

| About: Financial Select (XLF)

We expected the initial report from Elizabeth Warren’s TARP oversight panel to be tendentious and partisan. The early reviews are in:

A key Republican voice on banking and regulatory policy, [Rep. John] Hensarling said he rejected the report because he received it eight minutes before he was asked to vote on it.

"I am not going to sit around and be the Republican window-dressing," Mr. Hensarling said. "Until I conclude it's a serious effort, frankly no further participation is warranted."

Brad Dayspring, a spokesman for Mr. Hensarling, separately said the panel had not called a single official hearing or questioned "a single TARP official on the record."

"Congressman Hensarling holds out hope that the panel could serve as an effective vehicle to ensure accountability but fears that all indications are that it is being turned into a partisan PR circus by its chairwoman." [Emph. added]

Prof. Elizabeth Warren. She never disappoints. . . .