Treasury Department’s Mortgage Modification Programs: A Failure Prolonging the Economic Crisis
In its current form, HAMP both hurts homeowners who might otherwise spend their trial-period mortgage payments on rent and also distorts the housing market, delaying any recovery. Treasury owes American taxpayers and homeowners an honest explanation of HAMP's ill-advised creation and ongoing mismanagement.
Midway through the 111th Congress, Creating Accountability and Transparency under One-Party Rule
WASHINGTON, D.C. - House Committee on Oversight and Government Reform Ranking Member Darrell Issa (R-CA) today released a report,"Midway through the 111th Congress: Creating Accountability and Transparency under One-Party Rule." From the report: "As the Minority Members of U.S. House of Representatives chief watchdog committee, with jurisdiction to investigate all federal ...
Follow the Money: ACORN, SEIU and their Political Allies
This report adds new evidence confirming these previous findings of ACORN's misconduct in addition to a closer examination of ACORN's financial transactions and fundraising that define the organization as a political machine.
The Failure to Address the Costs of Defensive Medicine in Health Care Legislation
The benefits of tort reform are clear and offer the opportunity to help Americans who cannot afford health insurance obtain it, for those who have health insurance to pay lower premiums, and for all Americans to be treated by health professionals who are focused on patients instead of potential lawsuits.
Public Disclosure As A Last Resort: How The Federal Reserve Fought To Cover Up The Details Of The AIG Counterparties Bailout From The American People
On September 15, 2008, the three major credit ratings agencies downgraded AIG's credit rating due to rising calls for AIG to post billions of dollars in cash collateral. These collateral calls, combined with the ratings downgrade (which triggered calls for more collateral under the terms of the contracts), put AIG on the verge of a bankruptcy filing. The following day, September 16, 2008, the Federal Reserve Board, with the support of the Treasury Department, authorized the Federal Reserve Bank ...
The Firing of the Inspector General for the Corporation for National and Community Service
This inquiry began on Thursday June 11, 2009, when Inspector General Gerald Walpin contacted Senate Finance and House Government Oversight Committee staff. Walpin notified Committee staff that on the previous evening, President Barack Obama's Special Counsel for Ethics and Government Reform had given him an ultimatum to resign or be terminated within one hour. The Counsel to the President delivered this ultimatum without prior notice or consultation with Congress, despite newly enacted ...
The Politics of EPA’s Endangerment Finding
The Environmental Protection Agency prejudged the outcome of its endangerment finding on greenhouse gases to fulfill the Obama Administration's political agenda.
Teapot Dome Revisited: Dereliction of Fiduciary Duty at the Interior Department
The Department of Interior is responsible for managing over 500 million acres of land and 1.8 billion acres of the Outer Continental Shelf. This territory and its resources, which are held in trust for the American people by the federal government, are worth trillions of dollars and generate over $22 billion in annual revenue to the federal Treasury. The Interior Department, however, has shirked its duty as a steward of these resources. Over the past 25 years, there has been a rebirth of the ...
Oversight Status Report: Creating Accountability and Transparency Under One-Party Rule
Despite President Barack Obama's commitment to transparency, as well as the promises of countless Administration officials, the growth of the federal government through such countless Administration officials, the growth of the federal government through such programs as the American Recovery and Reinvestment Act and the Troubled Assets Relief Program has led to an even greater need than usual for the Committee's oversight activities.
Medicare Experience Suggests Americans Should Expect Massive Fraud with Nationalized Health Care
The government-run “public option” plan may mirror another government-run health care program: Medicare. Medicare – a federal entitlement program established in 1965 to provide health insurance to individuals 65 and older – has been expanded over the last four decades to cover certain individuals under 65, and now covers 45 million people at a cost of $492 billion per year.