November 21, 2008


WASHINGTON, DC – Senator Chris Dodd (D-CT), Chairman of the Senate Committee on Banking, Housing and Urban Affairs, today issued the following statement on the nomination of Neil Barofsky to be Special Inspector General Committee for the Troubled Asset Relief Program.  Having officially received the nomination on Monday, Dodd convened the Committee for a hearing just two days later.  The nomination was cleared by members of the Senate Banking Committee, the leadership of the Senate Committee on Homeland Security and Governmental Affairs, and all Democratic Senators.  However, the nomination was blocked on the floor by at least one Republican member.
“Mr. Barofsky’s testimony this week demonstrated that he has the experience and sound judgment required to provide meaningful oversight of a program that is continuously evolving to address the changing needs of the financial system and an economy in distress.  I would like to thank Senator Shelby and indeed all of my Committee colleagues, as well as the leadership of the Homeland Security Committee, for working with me in an expedited fashion on this very important nomination.  They recognize, as I do, that this position is vital to safeguarding the billions of taxpayer dollars that are being used to stabilize and strengthen our economy. 
“Unfortunately, the confirmation has been delayed by at least one Senator. That delay is regrettable and not in the best interest of American taxpayers.  It is my sincere hope that those who are blocking this nomination will reconsider their actions and confirm Mr. Barofsky at the earliest opportunity.”