Troubled Asset Relief Program Report
Mr. Barofsky also outlined the apportionment of TARP funds to banks and indicated that his office was conducting 35 criminal and civil investigations that include suspected accounting, securities and mortgage fraud; insider trading; and tax investigations related to the abuse of TARP programs.
Mr. Barofsky testified about the use of TARP (Troubled Asset Relief Program) funds and levels of transparency for government spending in the… read more
Mr. Barofsky testified about the use of TARP (Troubled Asset Relief Program) funds and levels of transparency for government spending in the program. He focused on his report which said the Treasury Department had “repeatedly failed to adopt recommendations” to fulfill the administration’s pledge of implementing TARP “with the highest degree of accountability.” Several members criticized the Obama administration, saying the Treasury Department had failed to ask financial firms receiving taxpayers' money what they are doing with it or providing adequate financial disclosures.
Mr. Barofsky also outlined the apportionment of TARP funds to banks and indicated that his office was conducting 35 criminal and civil investigations that include suspected accounting, securities and mortgage fraud; insider trading; and tax investigations related to the abuse of TARP programs. close
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Neil M. Barofsky Special Inspector General Department of the Treasury->Troubled Asset Relief Program
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