The panel is supposed to oversee the Treasury Department's handling of the $700 billion TARP fund that Congress authorized to bail out banks and other financial institutions. The report consists of 10 questions, many of which are questions for the Treasury Department. A section of the report discusses each of the 10 questions and raises other questions.
The panel was formed over the last two weeks and probably hasn't had time to delve into the matter thoroughly but the report is disappointing nevertheless. It reveals a sort of bureaucratic approach to the panel's oversight function and a sort of nitpicking approach as well. Panel members seem unclear about what Congress intended when it passed the TARP legislation and about what the Treasury Department is supposed to be doing with the funds. You'd think they would have a clear understanding of such matters before they accepted their assignment.
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