TARP Funds Still MIA

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The U.S. Public Interest Group has been doing an admirable job of tracking the government’s failure to track what banks are doing with the billions in taxpayer dollars they’ve received from the Troubled Asset Relief Program (TARP). Today, they circulated a nice little chart showing the status of the many alleged efforts at transparency. It’s not encouraging. Here’s the running tally:

Hearings on or related to the Troubled Asset Relief Program:   24
TARP Special Inspector General reports received from banks:   364
Department of Treasury requests for lending data:   21
General Accounting Office reports urging more oversight: 11
TARP oversight bills pending Congressional action:  14
TARP oversight bills passed into law so far: 0
Comprehensive accountings made to public agencies or the public to date: 0
 
USPIRG observes that “Six months, $565 billion, 24 hearings and 364 reports later, the American taxpayers still don’t know where their money has gone.”

 

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Fact:

In-depth journalism that investigates the powerful takes real money and is so damn important right now.But it doesn’t take a Mother Jones investigation to know that billionaires and corporations will never fund the type of reporting (like they do politicians) we do that exists to help bring about change. Instead, our mission-driven journalism is made possible by people power, and has been for 46 years now since our founding as a non-profit.

In “TITLE TK” Monica Bauerlein writes about the perilous moment we’re in, and why it’s so important that we raise $325,000 by the time November’s midterms are decided so we can be ready to throw everything we have at the big issues facing the nation no matter what happens. Please help MoJo’s people-powered journalism with a donation today.

$400,000 to go!

payment methods

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