About | HeinOnline Law Journal Library | HeinOnline Law Journal Library | HeinOnline
LOG IN
LOG IN

GAO-13-840R 1 (2013-09-06)

handle is hein.gao/gaobaahfz0001 and id is 1 raw text is: GAOU.S. GOVERNMENT ACCOUNTABILITY OFFICE 441 G St. N.W. Washington, DC 20548 September 6, 2013 Congressional Committees: Subject: Troubled Asset Relief Program: GA0's Oversight of the Troubled Asset Relief Program Activities The Emergency Economic Stabilization Act of 2008 (EESA) authorized the creation of the Troubled Asset Relief Program (TARP) to address the most severe crisis that the U.S. financial system had faced in decades.' EESA provided GAO with broad oversight authorities for actions taken under TARP and required that we report at least every 60 days on TARP activities and performance. This 60-day report catalogs our products (including reports, testimonies, and correspondence) on TARP activities to date and provides a brief overview of our oversight efforts. To prepare this report, we identified all of the products that we issued from December 2008 through July 2013, including our financial audits of the Office of Financial Stability (OFS), which was established within the Department of the Treasury (Treasury) to implement TARP, and analyzed them to identify common themes. We conducted our work from August to September 2013 in accordance with all sections of GAO's Quality Assurance Framework that were relevant to our objectives. The framework requires that we plan and perform the engagement to obtain sufficient and appropriate evidence to meet our stated objectives and to discuss any limitations in our work. We believe that the information and data obtained, and the analysis conducted, provide a reasonable basis for our findings and conclusions. GAO's Oversight Has Been Comprehensive To date, we have issued 65 products on TARP programs and activities (see encl.l). Our reviews have focused on several key areas, including * the activities initiated under TARP and the challenges encountered in implementing them, * Treasury's process for deciding how to unwind TARP programs and investments and the actions taken to terminate the programs and exit the investments, * indicators of credit conditions in markets targeted by TARP programs, * the management infrastructure for TARP programs, including contracting and staffing issues, and * the status of our recommendations to Treasury. 1EESA, Pub. L. No. 110-343, 122 Stat. 3765 (2008), codified at 12 U.S.C. 5201 et seq. EESA was enacted on October 3, 2008. GAO-13-840R TARP Summary

What Is HeinOnline?

HeinOnline is a subscription-based resource containing thousands of academic and legal journals from inception; complete coverage of government documents such as U.S. Statutes at Large, U.S. Code, Federal Register, Code of Federal Regulations, U.S. Reports, and much more. Documents are image-based, fully searchable PDFs with the authority of print combined with the accessibility of a user-friendly and powerful database. For more information, request a quote or trial for your organization below.



Contact us for annual subscription options:

Contact Us

Already a HeinOnline Subscriber?

Log In

profiles profiles most