Excerpt from the transcript of testimony of Neel Kashkari, Interim Assistant Secretary of Treasury for Financial Stability and Assistant Secretary of Treasury for International Affairs
Before the House Financial Services Committee
Wednesday, Dec 10, 2008
Mr. KASHKARI: Well, thank you, Congressman. It’s something I am personally very focused on. I do a lot of –I give a lot of updates to the country in the form of speeches and hearings such as this so that people can see in granular detail what we’re doing.
But let me also comment on reporting. The legislation calls for many levels of reporting—a tranche report—excuse me, transaction reports within two days of every investment; tranche reports every time we obligate $50 billion; a report to Congress within the first 60 days of our first commitment and then monthly thereafter.
We’ve met every single one of our reporting requirements—every single one—on time. All of this information—there is a wealth of information on the Treasury Web site and I’m having a heck of a time getting people to go there and look at it.
People say we don’t have the data and I say, well, have you looked at the Treasury Web site? It’s all there. And they say, no, I hadn’t looked there. And so we need help getting the message out, because we are putting so much data out there, I’m afraid we’re overloading people with too much information and too much data.