Maurice Hinchey: “since the bailout bill was passed last year, about $350 billion of the $700 billion that was allocated in that…”

“since the bailout bill was passed last year, about $350 billion of the $700 billion that was allocated in that legislation has been authorized and effectively spent through the Treasury Department. However, there's very little information with regard to who are the recipients of that $350 billion and for what purpose they receive that money and how they spend it. So this amendment just asks and makes it clear that upon the passage of this legislation, that the Secretary must provide information with regard to where that money has gone and how that funding was spent. And then, 30 days later, within 30 days after the enactment of this paragraph, the Secretary shall promptly submit to the appropriate committees here in the Congress that information: Where the money was allocated and for what purposes it was spent. I think this is a very essentially important piece of information. I expect that it will be passed by the House. I reserve the balance of my time.”