Congressman Issa Calls Out Timothy Geithner on TARP Transparency

The following is cross-posted at www.fiscalaccountability.org:

Following the Special Inspector General for TARP (SIGTARP) report highlighting the failure of Treasury to institute standards for transparency and accountability relating to the use of taxpayer dollars through TARP, Congressman Darrell Issa, Ranking Minority Member of the Commitee on Oversight in the House of Representatives sent a letter to Treasury Secretary Timothy Geithner this week. 

Among other things, Congressman Issa requests a full explanation of and records/communications referring or relating to Treasury’s failure to adopt SIGTARP’s recommendation that all recipients of TARP funds be required to account for the use of taxpayer money.

Says Rep. Issa:

While President Obama Came into office promising change, all we’ve seen from your leadership at Treasury is a continuation of the Bush Administration’s failure to ensure adequate transparency of the use of taxpayer dollars by participants in the TARP. 

(…)

The refusal to comply with SIGTARP’s recommendation contradicts President Obama’s promise of openness and transparency. The American people deserve better.

Congressman Issa requests the information to the committee by close of business on Tuesday, May 19, 2009.  It will be interesting to see how Secretary Geithner will respond. 

Stay tuned.