Oversight of the Troubled Asset Relief Program
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Please note that the content of this book primarily consists of articles available from Wikipedia or other free sources online. The Emergency Economic Stabilization Act created the Troubled Assets Relief Program to administer up to $700 billion dollars. Several oversight mechanisms are established by the bill, including the Congressional Oversight Panel, the Special Inspector General for TARP (SIGTARP), the Financial Stability Oversight Board, and additional requirements for the Government Accountability Office (GAO) and the Congressional Budget Office (CBO). The Financial Stability Oversight ...
Please note that the content of this book primarily consists of articles available from Wikipedia or other free sources online. The Emergency Economic Stabilization Act created the Troubled Assets Relief Program to administer up to $700 billion dollars. Several oversight mechanisms are established by the bill, including the Congressional Oversight Panel, the Special Inspector General for TARP (SIGTARP), the Financial Stability Oversight Board, and additional requirements for the Government Accountability Office (GAO) and the Congressional Budget Office (CBO). The Financial Stability Oversight Board is created to review and make recommendations regarding the Treasury''s actions. Its purpose is to review the operation of TARP, to make recommendations to the Treasury for improvements, and to watch for fraud and misrepresentation. The FSOB also has the power to ensure that the Treasury follows policies in accordance with the Act and the economic interest of the U.S. It is to meet on a monthly basis and report to Congress and the Oversight Panel quarterly.
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