It’s been about two months since the U.S. Treasury Department implemented its Troubled Asset Relief Program (TARP). With nearly half of the initial $700 billion available under the program already committed, many people are wondering whether the program is working. In a report released yesterday, Congress’s own watchdog agency, the Government Accountability Office (GAO), confirms what many have already concluded – that nobody knows if the program is working, and there isn’t any way of knowing because the mechanisms “To help ensure the program’s integrity, accountability, and transparency” are not in place. GAO does concede that it may be too early to tell if the program is working, but goes on to explain that, regardless, the measures for making that judgment are not in place.” source...
Government Accountability Office says government doesn’t have a coherent strategy for the financial crisis. by reddit
“It’s been about two months since the U.S. Treasury Department implemented its Troubled Asset Relief Program (TARP). With nearly half of the initial $700 billion available under the program already committed, many people are wondering whether the program is working. In a report released yesterday, Congress’s own watchdog agency, the Government Accountability Office (GAO), confirms what many have already concluded – that nobody knows if the program is working, and there isn’t any way of knowing because the mechanisms “To help ensure the program’s integrity, accountability, and transparency” are not in place. GAO does concede that it may be too early to tell if the program is working, but goes on to explain that, regardless, the measures for making that judgment are not in place.” source...
It’s been about two months since the U.S. Treasury Department implemented its Troubled Asset Relief Program (TARP). With nearly half of the initial $700 billion available under the program already committed, many people are wondering whether the program is working. In a report released yesterday, Congress’s own watchdog agency, the Government Accountability Office (GAO), confirms what many have already concluded – that nobody knows if the program is working, and there isn’t any way of knowing because the mechanisms “To help ensure the program’s integrity, accountability, and transparency” are not in place. GAO does concede that it may be too early to tell if the program is working, but goes on to explain that, regardless, the measures for making that judgment are not in place.” source...
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