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March 6, 2009

Report on Foreclosures By Congressional Oversight Panel

Dated March 6, 2009, "Foreclosure Crisis: Working Towards a Solution," the 189 page report can be accessed here

The Congressional Oversight Panel was created by Congress in October, 2008.  Elizabeth Warren is the Chairperson of this panel.  According to its website, it was created to “review the current state of financial markets and the regulatory system.”

"COP is empowered to hold hearings, review official data, and write reports on actions taken by Treasury and financial institutions and their effect on the economy.

Through regular reports, COP must:

Oversee Treasury’s actions
Assess the impact of spending to stabilize the economy
Evaluate market transparency,
Ensure effective foreclosure mitigation efforts
And guarantee that Treasury’s actions are in the best interest of the American people.

Lastly, Congress has instructed COP to produce a special report on regulatory reform that will analyze 'the current state of the regulatory system and its effectiveness at overseeing the participants in the financial system and protecting consumers.'”

COP has an Executive Director and office space.  I would love to know its budget for this year. 

March 6, 2009 in Current Affairs | Permalink

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