Dodd, Frank Warn Paulson May Not Get TARP’s Next $350 Billion

The Treasury has ignored the “clear congressional intent” of the TARP to reduce home foreclosures, Frank, a Massachusetts Democrat, told reporters yesterday after a speech at a Consumer Federation of America conference in Washington. “At the very least, he’d have to agree that some of that money was going to be used for foreclosure relief.”

“Little is understood about how these investments are contributing to the nation’s economic recovery,” House Minority Leader John Boehner and 11 other Republicans wrote in their Dec. 3 letter.