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Questions Loom Over Use of Treasury Bailout Money

WASHINGTON (AP) - The head of a congressional panel overseeing
the $700 billion bailout program says she is "shocked" that
officials trying to follow where the money has gone still have many
unanswered questions.
Harvard University law professor Elizabeth Warren, appearing on
national television Friday as her panel released a critical report
on the rescue fund, said Congress "may want to take a very hard
look" at how the money has been used by the banks that got the
bulk of the initial disbursements.
Warren told ABC's "Good Morning America" that the Treasury
Department "didn't put any tracking mechanisms on it."
Warren also said. "They didn't tell the banks what they had to
do in order to get the money. It might be used for lending, it
might be used to buy other banks ... Or it might just be stuffed in
vaults and left there."


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