Fortenberry Calls on Financial CEOs to Testify Before Congress

Washington, DC - Congressman Jeff Fortenberry says that the chief executive officers of the financial institutions receiving government assistance should testify before Congress.  Fortenberry joined more than 80 of his colleagues in contacting Speaker Nancy Pelosi and Financial Service Chairman Barney Frank to call for the CEOs to testify about how their institutions may have contributed to the credit crisis and what steps they are taking to protect consumers and taxpayers.  Fortenberry also wants the CEOs to explain how the financial institutions have used the federal money already received and when they expect to repay the taxpayer dollars.

“The American taxpayers deserve greater accountability as this process continues,” Fortenberry said.  “Unfortunately, none of the leaders of the financial institutions involved in the bailout have been required to answer directly to Congress and the American public.  The vast majority of Americans have no responsibility for the current financial turmoil and they have a right to know how the financial institutions are using their tax dollars.”

Fortenberry recently called for Congress to vote on using the second half of the $700 billion bailout.  He opposed the original bailout plan and urges more direct congressional oversight of U.S. Treasury and Federal Reserve spending.

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