Press Releases

Jul 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 Fannie Mae and Freddie Mac who paved the way for an over-inflated housing bubble that encouraged mortgage ...

Jul 21, 2010

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 Affordable Modification Program (HAMP), characterizing it as “anemic” and a “government program ...

Jul 21, 2010

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 the company’s business interests. An e-mail discovered in the course of the Committee’s investigation, revealed an ...

Jul 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 interests.  Issa today in a letter to Federal Housing Finance Agency (FHFA) ...

Jul 20, 2010

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 propaganda that the Administration is desperately trying to project and the facts, ...

Jul 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 

Jul 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 ...

Jul 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 

Jul 16, 2010

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 ...

Jul 15, 2010

Issa Statement on Capping of Ruptured Well

WASHINGTON D.C. – Rep. Darrell Issa, the Ranking Member of the Oversight and Government Reform Committee, released the following statement regarding the successful stoppage of oil flowing from the ruptured well in the Gulf of Mexico: “This is fantastic news that should provide some glimmer of hope to the besieged residents of the Gulf Coast.  While the citizens of the Gulf can exhale for a minute, they must also grapple with the totality of the ...

  • Full Oversight Committee