Sen. Bernie Sanders says Congress should reject Treasury Secretary Henry Paulson’s request to release the second half of a $700 billion Wall Street bailout fund.
The Vermont independent, who opposed the financial industry rescue when it passed Oct. 1, says what has happened to the first half of the money has been shrouded in secrecy, and that not enough of it has been devoted to easing the nation’s credit crunch.
Sanders pointed to an Associated Press report in which spokespeople for several banks were quoted as refusing to say how they were using the money from the bailout.
He also says Paulson has not done enough to make sure the rescue money isn’t going to large year-end bonuses and other executive compensation.