October 25, 2010
SIGTARP Identifies Harm to Government's Credibility as Cost of TARP
The Special Inspector General of the TARP Program released its Quarterly Report dated Oct. 26, 2010. The 338-page report assesses TARP after two years and, consistent with previous reports, does not mince words in describing problems. It identifies as a fundamental non-financial cost of TARP the "potential harm to the Government's credibility that has attended this Program," because of the lack of transparency, program mismanagement, and flawed decision-making processes that have fueled public anger.
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