The Obama administration has told special investigators in the Treasury Department to delay a comprehensive examination of how banks and other corporations are using $350 billion in federal bailout money because of possible
conflicts with federal paperwork statutes. [....]
The OMB could have issued a rare emergency waiver of the law. [....]
Barofsky "should not have to jump through bureaucratic hoops in order to gather basic information that the government could have and should have required as a condition of the receipt of TARP funds in the first place," Grassley told OMB director Peter Orszag in a letter. Grassley also disputed whether the paperwork law applied to the investigation.
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