Yesterday, Neel Kashkari, Treasury's interim head of the $700 billion bailout package testified in Congress, and we must say that some Democrats dared to ask the right questions.
For example, Rep. Dennis Kucinich, D-Ohio, chairman of the panel, said the Treasury Department had "abdicated its responsibility" to prevent home foreclosures, and he added that the changes in implementing the bailout announced by Treasury Secretary Henry Paulson this week (see our previous posts on this topic below)
break with congressional intent, contradict public assurances previously made by Treasury and leave the federal government without an adequate mechanism to stem the tide of home foreclosures
We couldn't have said better.
