WASHINGTON, January 30 – In a letter to Senate leaders, Senator Bernie Sanders called for a major investigation into what caused the worst financial crisis since the .
Sanders proposed expanding a congressional review of how up to $700 billion inbailout funds are being spent to also investigate how the started in the first place.
"We have an enormous responsibility to explain to the American people what led to this financial crisis, how did we get here, who is responsible, and what we can do to make sure that this never happens again," Sanders (I-Vt.) wrote in a letter to(D-Nev.).
Sanders proposed that theoverseeing the (TARP), chaired by Harvard University Law , expand its scope and also investigate the causes of the economic collapse.
"In order to accomplish this very important goal," Sanders wrote, "We need to examine what responsibility should be borne by individuals, corporations, and institutions for the poor decisions and foolish investments that have in large measure created this monumental crisis.
"Theis already in place. A sensible next step would be to expand its charge from that of scrupulously examining how the TARP monies are spent, to also exploring why the financial crisis occurred in the first place. The panel should have subpoena power necessary to assure that it receives sound information and direct answers to the questions it is charged with answering."
The letter is available here.
Contact: Michael Briggs or Will Wiquist