NEWS

Wed, Jul 14

Bailout watchdog to audit housing program

The special inspector general for the financial bailout will examine how 10 states were selected for a $2.1 billion Obama administration plan to aid areas hit by the housing bust.

Bailout watchdog Neil Barofsky is performing the audit in response to a request by Rep. Darrell Issa, R-Calif., according to a letter released Tuesday by Issa's office.

The Treasury Department has been running the government's "Hardest-Hit" fund, which is stocked with financial rescue money. Read more.

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