On 9 January 2009, Congressional Oversight Panel (COP) has commented on replies by Treasury to COP’s queries (45 questions in total) in its 2nd report:
Accountability for the Troubled Asset Relief Program (TARP)
report link
COP highlights 4 specific areas that deserve special attention !
1. Bank accountability: not knowing what the banks are doing with
taxpayer money
2. Transparency and asset evaluation: not enough transparency, especially on asset evaluation
3. Foreclosures: Treasury takes no steps to use any of this money to alleviate the foreclosure crisis
4. Strategy: no information on strategy
The Treasury Department Response Grid in the report is interesting.
Sigh, it seems that Treasury didn’t respond to many of the questions asked.
