Bailout Watchdog: Shutting Down TARP To Be Tricky, Government Does Not Have Plan To Address ‘Too Big To Fail’
That’s one of the conclusions raised in a new report released Thursday by the Congressional Oversight Panel, detailing the challenges faced by the administration as it attempts to shut down the unpopular bailout program. Though slated to end in October, the government will likely continue to hold hundreds of billions of dollars in private assets beyond then. Unwinding those positions will be tricky. The panel wonders if the Treasury is up to the task.
Led by Harvard Law Professor Elizabeth Warren, the Congressional Oversight Panel was created by Congress to keep tabs on the bailout. Its monthly reports over the past year have kept an uncompromising critical light shined on the bailout. Its latest report was no different.