Releases


July 22, 2010
Inspector General Agrees to Issa Request to Expand SEC-Goldman Sachs Investigation to Include Settlement Announcement

WASHINGTON D.C. – The Securities and Exchange Commission (SEC) Inspector General (IG) David Kotz has agreed to a request from Rep. Darrell Issa, the Ranking Member of the Oversight and Government Reform Committee, to broaden his current investigation examining the SEC’s decision to move forward with action against Goldman Sachs “to include the circumstances surrounding the timing of the SEC’s…

July 21, 2010
As Obama’s Bill Signing Charade Begins, Root Causes of Financial Meltdown Ignored, Future of Fannie and Freddie Unknown

Fannie-Freddie Represents the Largest Taxpayer Bailout in History but Future Met with Deafening Silence WASHINGTON D.C. – President Obama today signed a “financial reform” bill into law today that remarkably ignored how the economic crisis was created by a partnership between the federal government and Gov­ernment Sponsored Enterprises (GSE’s) such as…

Inspector General for TARP Assails Obama Administration for Lack of Transparency and Deepening Housing Crisis

WASHINGTON. D.C. – The Special Inspector General of the Troubled Asset Relief Program (SIGTARP) Neil Barofsky, today released its quarterly report that blasted the Treasury Department for instituting “the equivalent of a fully deployed TARP program” without transparency and for setting “meaningless” standards to measure the true impact of the Home…

Countrywide E-Mails Raise New Questions Surrounding Effort to Gain Influence in Exchange for Sweetheart Loan Deals

WASHINGTON D.C. – An investigation conducted by Rep. Darrell Issa, the Ranking Member of the Oversight and Government Reform Committee is revealing new insights into the inner workings of Countrywide’s Financial Corporation’s infamous VIP and Friends of Angelo Program that existed to buy friends in critical government and industry positions affecting…

July 20, 2010
153 Countrywide VIP Loans Given to Fannie Mae Employees, former CEOs

WASHINGTON, DC – An investigation conducted by Rep. Darrell Issa, the Ranking Member of the Oversight and Government Reform Committee is revealing new insights into the inner workings of Countrywide’s Financial Corporation’s infamous VIP and Friends of Angelo Program that existed to buy friends in critical government and industry positions affecting the company’s business…

More People Leaving HAMP than are Being Helped by It

WASHINGTON. D.C. – Today the Obama Administration released its monthly performance report for the Home Affordable Modification Program (HAMP) and its monthly “Housing Scorecard.”  Both further demonstrate that HAMP has failed to address, or even significantly affect, the nation’s foreclosure rates. “There’s a real disconnect between the false image of success and…

July 19, 2010
President Obama Crossing Hypocritical Boundary by Chastising Republicans on Economy

WASHINGTON D.C. – As President Obama attacked Republicans today on the economy, Rep. Darrell Issa, the Ranking Member of the Oversight and Government Reform Committee, called the President’s remarks “hypocritical” in the face of findings released yesterday in an audit conducted by the Special Inspector General for the Troubled Asset Relief Program…

July 17, 2010
SIGTARP Audit Examining Auto Bailout Finds Obama Administration “Accelerated” Job Losses

WASHINGTON. D.C. – An audit that will be released tomorrow by the Special Inspector General for the Troubled Asset Relief Program (SIGTARP) entitled: “Factors Affecting the Decisions of General Motors and Chrysler to Reduce Their Dealership Networks” has found that it is unclear if the Obama Administration’s push for accelerated dealership closings mandated…

July 16, 2010
Issa Responds to Van Hollen’s Warnings of Oversight in a Republican Congress

WASHINGTON. D.C. –Speaking to Huffington Post, Rep. Chris Van Hollen (D-MD), the Chairman of the Democratic Congressional Campaign Committee, joined the chorus echoed by Speaker Nancy Pelosi (D-CA) and Majority Leader Steny Hoyer (D-MD) in attempting to use the fear of rigorous oversight as a means to protect their Majority. “Between a trillion-dollar stimulus, numerous bailouts…

Issa Asks President Obama: Why No IG’s at CIA, State or GAO?

10 of 69 Inspectors General Posts Vacant Including at CIA, State Department and GAO WASHINGTON D.C. – Rep. Darrell Issa, the Ranking Member of the Oversight and Government Reform Committee, sent a letter today to President Obama expressing “concern that the community of federal Inspectors General (IGs) is short-handed due to the absence of…