Rep. Frank Guinta named to important House subcommittee looking into TARP & govt. bailouts

(Washington –  January 18, 2011)   Representative Frank Guinta (R, NH-01) has been named Vice Chairman of the House Subcommittee on TARP, Financial Services and Bailouts of Public and Private Programs.  It will look into financial and monetary policy, banking, housing and insurance regulation, as well as financial crises, rescues and tax policy. The subcommittee is part of the larger House Committee on Oversight and Government Reform, chaired by Representative Darrell Issa (R, CA-49).

“Congressman Guinta’s experience as a mayor and his commitment to accountability in government convinced me he was the right candidate to serve as vice chair for this subcommittee,” said Issa. “In this position, he will play a leading role in sorting out still unanswered questions about the financial meltdown and federal programs that are failing to achieve measurable goals to help the economy while wasting taxpayer dollars.”

Guinta said he is eager to begin his new assignment.  “Granite Staters have told me they are unhappy with the billions of dollars spent on bailouts.  They want to know where all that money went, what it produced, and cases where it was wasted.  When waste is identified, they want it stopped immediately. My goal is to do everything I can to keep the money paid by hardworking taxpayers from being needlessly squandered.  I was sent to Washington to help get our nation’s financial house in order, and I look forward to working on this important subcommittee to do just that.”

Guinta also serves on the House Committee on Transportation and Infrastructure.