Hensarling floats bill to terminate TARP

Rep. Jeb Hensarling (R-Texas), a leading conservative House Republican, wants to put an end to the government's $700 billion financial rescue program.

"It is increasingly being used instead to promote the economic, social and political agendas of the administration," he said on Monday. Hensarling is the only sitting member on the five-person Congressional Oversight Panel set up to oversee the rescue package.

Hensarling introduced a bill on Monday that would end the Troubled Asset Relief Program (TARP) by December 31.

-Silla Brush