WASHINGTON – Senator Chuck Grassley has asked the Treasury Department and the Federal Deposit Insurance Corporation for an accounting of how it is determining eligibility among the mortgages is selects to guarantee as part of the federal government’s ongoing financial system rescue operation.
Grassley said he is concerned that the bailout not include straw buyers and those who gamed the system for financial wheeling and dealing and that resources dedicated to this effort are safeguarded to help Americans in need of help.
The text of the letter of inquiry from Grassley is below.
October 30, 2008
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The Honorable Henry M. Paulson, Jr. Secretary U.S. Department of the Treasury 1500 Pennsylvania Avenue, NW Washington, DC 20220
Sheila C. Bair Chairman of the Board Federal Deposit Insurance Corporation 550 17th Street, NW Washington, DC 20429 |