SIGTARP Report Warns of Risks to Taxpayers

WASHINGTON. D.C. – House Committee on Oversight and Government Reform Ranking Member Darrell Issa (R-CA) characterized a report released by the Special Inspector General charged with overseeing the $700 billion Troubled Asset Relief Program (TARP) as a final warning for the Administration to demand transparency as “simply put, the American people have a right to know how their tax dollars are being used,” the report says.

“Last fall, at the request of Treasury officials who lacked a clear vision and endgame for protecting the economy, Congress rushed to pass a misguided $700 billion bailout of Wall Street,” Issa said.  “It comes as little surprise that a plan lacking vision, appropriate oversight and transparency has and continues to simply shift even greater risk to taxpayers.  The farther officials push this misguided intervention, the more likely it appears that taxpayers will ultimately foot a massive bill for these mistakes.”