According to Elizabeth Warren, Chair of the TARP Congressional Oversight Panel, Treasury Secretary Hank Paulson misled their investigation.
Here is part Warren's interview with CBS "Early Show" anchor Julie Chen this morning:
Prof. WARREN: Well, they're trying to push money into banks and the question the oversight panel was asking is, `are you getting an equivalent amount back?' And so that's what this was about. Now there could be lots of policy reasons that Treasury might decide that it wanted this money to be in the banks. But our question is the one we put to Secretary Paulson, and that is, `are you putting it in and getting back assets that are worth equivalent value?' He told us yes; our independent investigation said no
CHEN: So are you saying he was lying?
Prof. WARREN: Well, I'm telling you he told us yes and our independent investigation said no.