TARP Needs Better Oversight, Management: GAO

Law360, New York (December 10, 2008, 12:00 AM EST) -- Although the U.S. Department of the Treasury has allocated nearly half of the $700 billion to be disbursed by the Troubled Asset Relief Program to stabilize the U.S. economy, the program needs stronger management and oversight in order to protect the interests of the government and taxpayers, according to a recent report by the U.S. Government Accountability Office.

The GAO's first official review of TARP reveals that the Treasury has failed to establish an effective management structure and system of internal controls for the program or...
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