Friday, December 05, 2008

TARP update

The GAO has a new report out:
Treasury has yet to address a number of critical issues, including determining how it will ensure that CPP is achieving its intended goals and monitoring compliance with limitations on executive compensation and dividend payments. Moreover, further actions are needed to formalize transition planning efforts and establish an effective management structure and an essential system of internal control.
More here via Declan McCullagh (who, incidentally, I played with once on an all libertarian soccer team -- the Invisible Feet).

For those keeping score:

DJIA on Oct. 3: 10,325.
DJIA right this minute: 8,534.

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