Congresswoman Berkley testifies in Las Vegas on December 16 at a hearing of the panel charged by Congress with overseeing the nation’s $700 billion financial rescue package

December 16, 2008-- Yesterday, I had the opportunity to address the Congressional Oversight Panel (COP) created by Congress to oversee the expenditure of the Troubled Asset Relief Program (TARP) funds authorized in the Emergency Economic Stabilization Act of 2008 (EESA). I focused my remarks to the COP on the impact that the nation’s troubled economy has had on Nevada, including record foreclosures, rising unemployment rates and a continued lack of access to credit for businesses and consumers. 

I also criticized the Treasury Department’s handling of the TARP, saying that the first $350 billion spent on the plan has not helped struggling families or businesses in the Las Vegas Valley, including those who have lost their homes to foreclosure or have been unable to secure a reasonable mortgage as a result of the credit crisis.

Members of the public unable to attend the hearing are encouraged to post their own questions, make their own suggestions, and share their personal stories through the Panel's website at www.cop.senate.gov