Paulson Debates Second Infusion U.S. Treasury Secretary Henry Paulson is debating whether to ask Congress for the second installment of the $700 billion bailout package, concerned about competing demands for the funds and a potentially hostile reaction from lawmakers.
Mr. Paulson's dilemma was thrown into relief Tuesday by a report from the Government Accountability Office, the investigative arm of Congress, which sharply criticized the Treasury Department's handling of the Troubled Asset Relief Program, or TARP.
Besides lawmakers threatening to deny a request for the additional money, Mr. Paulson is also grappling with confusion stemming from the transition to a new administration.
The report suggested Treasury has little ability to monitor potential conflicts of interest among independent contractors helping implement the program. As a result, there is a "heightened risk that the interests of the government and taxpayers may not be adequately protected and that the program objectives may not be achieved in an efficient and effective manner." http://online.wsj.com/article/SB122826667852274509.html
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