Elizabeth Warren, the Harvard Law professor overseeing the $700-billion bailout, has blown the whistle on the Obama administration for the lack of oversight on its economic rescue plan.

Warren, often referred to by the press as the "bailout watchdog," testified Tuesday before the Senate Finance Committee – and was quick to blame the Treasury Department for not cooperating with Congress and for failing to be transparent on bank-bailout spending. The Huffington Post reports:

‘We do not seem to be a priority for the Treasury Department,’ said Warren. She added that the administration’s failure to ask for more accountability has led to a situation that is difficult to oversee. ‘This problem starts with Treasury,’ she said. Warren argued that ‘continuous subsidization without vigorous oversight is exactly what got us into this.’ She complimented the administration’s oversight of the auto industry, but contrasted it with the lack of the same with regard to the banks.

Politico notes that Warren also said that her panel has "no way to measure" the bailout’s success because the Treasury has given her "no articulation of what [the bailout] is supposed to accomplish."

Warren, who criticized former Treasury Secretary Hank Paulson for allegedly underestimating public exposure to bank losses, also said that her office has "substantial questions about AIG, TALF … how many acronyms can we do here?"

She continued: "Congress and the American people have been cut out of the conversation."

In this video, Warren makes her group’s priority clear: ensuring bailout money is being spent in the taxpayers’ best interests.

Watch: