GAO to Treasury: More Info Please

Submitted by Melissa Hoffmann on Fri, 01/02/2009 - 11:42

Saving the economy can’t be easy, even if you have access to $700 billion. But a recent audit shows that in a lack of transparency and oversight in its execution of the Troubled Asset Relief Program (TARP), the government may be making missteps similar to those that first catalyzed this crisis.

An audit by the Government Accountability Office said the department “has yet to address a number of critical issues” with the TARP and called on the department’s leader to bolster his efforts to educate lawmakers, investors and the public about the program’s goals to avoid “information gaps and surprises.”

Check out the summary if you don't have time for the 60+ page full report to Congress.

And don't forget to check for a story on this audit in the February 1 issue of The Trusted Professional.

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