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Tag Archive: Bailout

The unbearable opacity of TARP: Government agencies can’t tell us who’s in charge

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The new report to Congress from SIGTARP -- the Special Inspector General for the Troubled Asset Relief Program -- begins by noting that TARP has evolved into "12 separate, but often interrelated, programs involving government and private funds of up to almost $3 trillion" of an "unprecedented scope, scale, and complexity." The report highlighted the possibilities of fraud and conflicts on interest in the bailout process and calls for better disclosure. We continue to find that even some of the most elementary details about the program -- like who is actually managing distribution of the bailout money to financial institutions -- is still shrouded ...

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