{"id":185,"date":"2009-01-06T18:42:29","date_gmt":"2009-01-06T18:42:29","guid":{"rendered":"http:\/\/www.whistleblowerlawyerblog.com\/2009\/01\/treasury_reports_on_tarp_funds.html"},"modified":"2021-06-11T17:49:57","modified_gmt":"2021-06-11T21:49:57","slug":"treasury_reports_on_tarp_funds","status":"publish","type":"post","link":"https:\/\/www.finchmccranie.com\/whistleblower-blog\/treasury_reports_on_tarp_funds\/","title":{"rendered":"With Treasury Reporting TARP Funds to More Than 200 Financial Institutions, Who–Besides Whistleblowers–Can Guard Against Fraud and Abuse?"},"content":{"rendered":"

The Treasury Department last week issued its December 2008 report to Congress on what it has done with the “bailout” funds through the Troubled Asset Relief Program (TARP) and Capital Purchase Program (CPP)<\/a>. With more than 200 institutions receiving taxpayer money, an overriding question is how to prevent and redress the inevitable fraud and abuse of TARP and other taxpayer funds, through whistleblowers<\/a> and other means.<\/p>\n

Treasury reported that, as of December 31, 2008, it had invested $177.5 billion in more than 200 U.S. financial institutions. As discussed previously on the whistleblower lawyer blog<\/a>, Treasury recounted its announced assistance to General Motors and GMAC, as part of the Automotive Industry Financing Program (AIFP).<\/a><\/p>\n

Treasury also described its New Year’s Eve investment in Citigroup of $20 billion in preferred stock and warrants, as part of a new Targeted Investment Program (TIP). It also discussed reporting to Congress on the “Asset Guarantee Program,” an insurance program.<\/p>\n

Treasury’s list of institutions receiving funds is reprinted below.<\/p>\n

With abuses already being reported by TARP whistleblowers, we urge the government to act decisively to plan for and redress<\/em> the inevitable abuses that will occur. Sen. Grassley has emphasized that the qui tam whistleblower provisions of the False Claims Act<\/a> be used to deal with TARP bailout fraud and abuse, as we have discussed previously<\/a>. The IRS Whistleblower Rewards Program <\/a>should also serve an essential role in protecting taxpayer funds, as well as rewarding whistleblowers.
\n Continue reading \u2192<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

The Treasury Department last week issued its December 2008 report to Congress on what it has done with the “bailout” funds through the Troubled Asset Relief Program (TARP) and Capital Purchase Program (CPP). With more than 200 institutions receiving taxpayer money, an overriding question is how to prevent and redress the inevitable fraud and abuse […]<\/p>\n","protected":false},"author":6,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2],"tags":[],"class_list":["post-185","post","type-post","status-publish","format-standard","hentry","category-irs-whistleblower-program-for-tax-whistleblowers"],"yoast_head":"\nWith Treasury Reporting TARP Funds to More Than 200 Financial Institutions, Who--Besides Whistleblowers--Can Guard Against Fraud and Abuse? — Whistleblower Lawyer Blog — January 6, 2009<\/title>\n<meta name=\"description\" content=\"The Treasury Department last week issued its December 2008 report to Congress on what it has done with the "bailout" funds through the Troubled Asset — January 6, 2009\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.finchmccranie.com\/whistleblower-blog\/treasury_reports_on_tarp_funds\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"With Treasury Reporting TARP Funds to More Than 200 Financial Institutions, Who--Besides Whistleblowers--Can Guard Against Fraud and Abuse? 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