TARP: Additional Actions Needed to Better Ensure Integrity, Accountability, and Transparency
by Craig Jennings, 12/2/2008
That's the title of a report released today by the Government Accountability Office (GAO). The report, prescribed by the Troubled Asset Relief Program (TARP) legislation, is the first of a recurring series to the appropriate committees of Congress and the Special Inspector General for TARP.
Treasury has yet to address a number of critical issues, including determining how it will ensure that CPP is achieving its intended goals and monitoring compliance with limitations on executive compensation and dividend payments. Moreover, further actions are needed to formalize transition planning efforts and establish an effective management structure and an essential system of internal control.
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