Troubled Asset Relief Program : status of efforts to address transparency and accountability issues : report to congressional committees.

Format:

Book

Government document

Author/Creator:

United States. Government Accountability Office

Contributor:

Hillman, Richard J.

McCool, Thomas Joseph, 1947-

Williams, Orice M.

Language:

English

Subjects (All):

United States. Department of the Treasury. Office of Financial Stability--Management.

United States.

Troubled Asset Relief Program (U.S.).

United States. Department of the Treasury. Office of Financial Stability.

Economic assistance.

United States--Economic policy--2001-2009.

Financial crises--United States.

Financial crises.

Banks and banking--State supervision--United States.

Banks and banking.

Debt financing (Corporations)--United States.

Debt financing (Corporations).

Bank failures--United States.

Bank failures.

Bank loans.

Economic stabilization--United States.

Economic stabilization.

assistance.

Banks and banking--State supervision.

Economic policy.

Management.

Physical Description:

iii, 105 pages : digital, PDF file

Other Title:

Status of efforts to address transparency and accountability issues

Place of Publication:

[Washington, D.C.] : U.S. Govt. Accountability Office, [2009]

Summary:

This is the second GAO report on the Troubled Asset Relief Program (TARP). It follows up on the nine recommendations from the December 2, 2008, report (GAO-09-161). It also reviews (1) the nature and purpose of activities that had been initiated under TARP as of January 23, 2009; (2) Treasury's Office of Financial Stability (OFS) hiring and transition efforts, use of contractors, and progress in developing a system of internal control; and (3) preliminary indicators of TARP's performance. To do this work, GAO reviewed signed agreements and other relevant documentation and met with officials from OFS, contractors, federal agencies, and some participating institutions. Treasury has taken important steps to implement all nine previous recommendations, but has yet to fully address eight. This report includes recommendations that Treasury further expand its efforts to monitor how CPP recipients are using program funds and more clearly articulate and communicate a strategic vision for the program. Addressing these and other recommendations would help ensure greater accountability and transparency and better enable Treasury to effectively manage TARP.

Notes:

Title from PDF title screen (viewed on Mar. 2, 2009).

"GAO contacts, Richard J. Hillman, Thomas J. McCool, Orice M. Williams"--Page 105.

"January 2009."

Includes bibliographical references.

"GAO-09-296."

OCLC:

311625519