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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SIX TRUTHS

Reclaiming power from those who abuse it often starts with telling the truth. And in "This Is How Authoritarians Get Defeated," MoJo's Monika Bauerlein unpacks six truths to remember during the homestretch of an election where democracy, truth, and decency are on the line.

Truth #1: The chaos is the point.

Truth #2: Team Reality is bigger than it seems.

Truth #3: Facebook owns this.

Truth #4: When we go to work, we're in the fight.

Truth #5: It's about minority rule.

Truth #6: The only thing that can save us is…us.

Please take a moment to see how all these truths add up, because what happens in the weeks and months ahead will reverberate for at least a generation and we better be prepared.

And if you think journalism like Mother Jones'—that calls it like it is, that will never acquiesce to power, that looks where others don't—can help guide us through this historic, high-stakes moment, and you're able to right now, please help us reach our $350,000 goal by October 31 with a donation today. It's all hands on deck for democracy.

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