United States House Oversight Subcommittee on TARP, Financial Services and Bailouts of Public and Private Programs

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The Subcommittee on TARP, Financial Services and Bailouts of Public and Private Programs is a subcommittee within the U.S. House of Representatives's Oversight and Government Reform Committee. It was established in 112th Congress, during a committee reorganization spearheaded by the full committee's chairman, Darrell Issa, which restructured the various subcommittees' jurisdictions and increased the total number of subcommittees from five to seven. [1]

A congressional subcommittee in the United States Congress is a subdivision of a United States congressional committee that considers specified matters and reports back to the full committee.

Darrell Issa American politician, inventor and entrepreneur

Darrell Edward Issa is an American businessman and Republican politician. He served in the United States House of Representatives from 2001 to 2019, representing districts primarily covering north San Diego County, California. From January 2011 to January 2015, he served as Chairman of the House Oversight and Government Reform Committee. Issa served as CEO of Directed Electronics, which he co-founded in 1982. It is currently one of the largest makers of automobile aftermarket security and convenience products in the United States. Sporting a net worth of approximately 250 million dollars, Issa during his tenure was the wealthiest serving member of Congress.

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Jurisdiction

The subcommittee was created primarily to provide oversight of the Troubled Asset Relief Program, or TARP, established in 2008. [2]

The Troubled Asset Relief Program (TARP) is a program of the United States government to purchase toxic assets and equity from financial institutions to strengthen its financial sector that was passed by a Democratic Party controlled Congress and signed into law by Republican Party President George W. Bush on October 3, 2008. It was a component of the government's measures in 2008 to address the subprime mortgage crisis.

Members, 112th Congress

MajorityMinority
Ex officio

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References

  1. "Issa Announces Oversight Subcommittee Structure, Names Chairmen and Vice Chairmen". January 18, 2011. Retrieved 2011-01-18.
  2. Crabtree, Susan (December 17, 2010). "Issa, House GOP create new oversight sub-panels for TARP, stimulus". The Hill. Retrieved 2010-12-20.