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

Author(s): United States. Government Accountability Office
Online: Connect to resource online
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Subjects: Economic assistance
Financial crises--United States
Banks and banking--State supervision--United States
Debt financing (Corporations)--United States
Bank failures--United States
Bank loans
Economic stabilization--United States
United States--Economic policy--2001-2009
United States. Dept. of the Treasury. Office of Financial Stability--Management
Troubled Asset Relief Program (U.S.)
Formats: Electronic Resource, Remote
Material Type: Books
Language: English
Audience: Unspecified
Published: [Washington, D.C.] : U.S. Govt. Accountability Office, [2009]
Physical Description: iii, 105 p. : digital, PDF file
Alternate Titles: Portion of title: Status of efforts to address transparency and accountability issues
Additional Authors: Hillman, Richard J
McCool, Thomas Joseph, 1947-
Williams, Orice M
Notes: System requirements: Adobe Acrobat Reader
Mode of access: Internet from GAO web site. Address as of 3/2/2009: http://www.gao.gov/new.items/d09296.pdf ; current access available via PURL
Title from PDF title screen (viewed on Mar. 2, 2009)
"GAO contacts, Richard J. Hillman, Thomas J. McCool, Orice M. Williams" -- P. 105
"January 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
Includes bibliographical references
"GAO-09-296."
OCLC Number: 311625519