Dec 11th 2008
The Congressional Oversight Panel (COP) established under the Emergency Economic Stabilization Act of 2008 (EESA) to “review the current state of the financial markets and the regulatory system” released the first in a series of reports yesterday. The report, “Questions About The $700 Billion Emergency Economic Stabilization Funds,” raises 10 issues about Treasury’s Troubled Asset Relief Program (TARP) and the various programs thereunder including the Capital Purchase Program and the Significant Failing Institutions SSFI) program. COP has established a website and will conduct roundtables to obtain further feedback, and plans to issue another report on TARP, as well as a report making recommendations for reform of the financial regulatory structure. Read more here.