Hatch writes to Paulson about bailout money

Published: Tuesday, Jan. 13, 2009 10:02 a.m. MST
 |  E-MAIL | PRINT | FONT + - 
Sen. Orrin Hatch, R-Utah, is warning the Bush and Obama administrations that before he will vote to release the remaining $350 billion approved to help ailing financial institutions, he wants to see exactly how the first half of such funds was used.

Hatch wrote Treasury Secretary Henry Paulson saying, "If these institutions do not disclose how the allocated funding will be used to restore liquidity in our economic system, I believe we are undermining the intent of this law and the trust of the American people and cannot support allocating the remaining $350 billion."

He is especially concerned about reports that some banks are refusing to account for what they have done with money they have received.

"Treasury has yet to explain to the American people how this money is being used by the participating institutions. I strongly believe that this was not the intent of Congress, nor do I believe that it was your intent when the legislation was developed," Hatch wrote Paulson.

— Lee Davidson

Recent comments

Continued Message to THE Honorable United States Senator;Orin...

James G Conley,Sr. | Jan. 15, 2009 at 12:32 p.m.

Note;IAM,Giving my name,Because MY CONSTITUTION GIVES ME THE RIGHT...

James G Conley,Sr. | Jan. 15, 2009 at 11:54 a.m.

I should clarify by what I meant when I said that Sen. Hatch gets it....

Gus | Jan. 13, 2009 at 7:36 p.m.

Related content
previousnext

Latest comments

Utes roll past Jaguars

The young utes have shown improvement in each game. That is what good coaches...

I agree about Will, he is una maquina de futbol sent from the future. I sure...

As an avid Cougar fan, I'm embarrassed by a couple of these posts....

Utes turn attention to rivalry

I see what you did there....

LIBERAL LEFTIES CAN MOCK BECK ALL THEY WANT......BECK IS STILL MORE ETHICAL...

World has ample oil supplies

I love these right wingers that talk about "AMPLE OIL SUPPLIES". I always...

It has been frustrating to watch UDOT build these new free-way interchanges...

Only the NOW could argue that perpetrators are really victims....

In high school. I think lunch break so there were kids milling around when we...

I picked us too Yura, RSL 3 gals 1. Good luck tonight fellas.

Advertisements