This page attempts to establish a comprehensive database on the Troubled Asset Relief Program (TARP) and its oversight. While the government does post items to the internet (note: official sources represent the vast majority of links), it does so in an extremely decentralized manner.
Congressional Oversight Panel (COP)
The COP produces a monthly report in addition to producing a special report on regulatory reform (HL). The Panel reviews the program’s administration, purchases’ impact on markets and insitutions, transparency and effectiveness. It has the power to retain outside experts and consulatants to aid in reporting.
Financial Stability Oversight Board (FSOB)
The FSOB evaluates the Treasury Secretary’s policy and the
effectiveness of “preserving home
ownership, stabilizing financial markets, and protecting taxpayers.” Must importantly, the FSOB has the power to
make recommendations – this is the only oversight board with this statutory
power. The Board meets at least monthly
and has regularly meet more frequently.
Government Accountability Office (GAO)
The GAO conducts “ongoing oversight” of the
TARP’s “activities and performance.” In
evaluating the TARP’s performance, the GAO monitors foreclosure minimization,
cost reduction and whether the program provides stability or prevents market
“disruption.” The GAO may also research
the efficiency of Treasury programs enacted under the TARP in addition to the
statute itself. The GAO also determines
whether programs protect taxpayers. The GAO produces reports every 60 days in addition to conducting an annual audit of the TARP program.
Special
Investigator General (SIG)
SIGTARP has a variety of duties including describing the catogories of purchases made by the Treasury, a listing of the assets, explain the purchases of the Treasury Secretary, listing institutions receiving funds, producing detailed biographies of asset managers, listing insurance contracts as well as estimating purchases, obligations, expenditures and revenues of the TARP. Most importantly, the Treasury Secreatary must describe why they enacted a particular program.