Watchdog: Treasury Bailout Disclosure Falls Short

By: Jim Kuhnhenn AP Email
By: Jim Kuhnhenn AP Email

WASHINGTON (AP) - The government's main watchdog over the federal financial bailout says the Treasury Department has repeatedly failed to adopt recommendations aimed at making the $700 billion program more accountable and transparent.

Neil Barofsky (buh-RAHF'-skee), the inspector general for the Troubled Asset Relief Program, says in a report to Congress that Treasury's inaction means taxpayers have not been told what the financial institutions that have received assistance are doing with the money.

Barofsky's conclusion is contained in testimony he is prepared to give Tuesday to the House Oversight and Government Reform Committee.

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