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TARP Report

TARP Report

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An oversight panel charged with monitoring the federal government's $700 billion bailout program released a scathing report today, accusing the Treasury Department of failing to live up to its obligations to taxpayers about disclosure and how it proposes to fix the foreclosure crisis.
An oversight panel charged with monitoring the federal government's $700 billion bailout program released a scathing report today, accusing the Treasury Department of failing to live up to its obligations to taxpayers about disclosure and how it proposes to fix the foreclosure crisis.

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Published by: Washington Post Investigations on Jan 10, 2009
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11/11/2012

 
1
Accountability for theTroubled Asset Relief Program
The Second Report of theCongressional Oversight PanelJanuary 9, 2009
 
2
Congressional Oversight PanelPanel MembersElizabeth Warren, ChairRep. Jeb HensarlingRichard H. NeimanDamon SilversSen. John E. Sununu
 
3
TABLE OF CONTENTS
Executive Summary 4Introduction 7Treasury Department Updates Since Prior Report 8Questions About the $700 Billion: Discussion of Treasury’s Responses 91.
 
What Is Treasury’s Strategy? 92.
 
Is the Strategy Working to Stabilize Markets? 103.
 
Is the Strategy Helping to Reduce Foreclosures? 114.
 
What Have Financial Institutions Done with the Taxpayers’ 11Money Received So Far?5.
 
Is the Public Receiving a Fair Deal? 126.
 
What Is Treasury Doing to Help the American Family? 127.
 
Is Treasury Imposing Reforms on Financial Institutions 12that are Taking Taxpayer Money?8.
 
How Is Treasury Deciding Which Institutions Receive the Money? 139.
 
What Is the Scope of Treasury’s Statutory Authority? 1310.
 
Is Treasury Looking Ahead? 14Treasury Department Response Grid 15Oversight Activities 42Future Oversight Activities 44About the Congressional Oversight Panel 45Appendix I: Letter from Congressional Oversight Panel 46Chair Elizabeth Warren to Treasury SecretaryMr. Henry M. Paulson, Jr., dated December 17, 2008Appendix II: Treasury Department Responses to Questions of the First 49Report of the Congressional Oversight Panel , dated December 30, 2008

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