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CREW Launches tarptales.org - Keeping Tabs on All-Things TARP
WASHINGTON - March 24 - Today, Citizens for Responsibility and Ethics in Washington (CREW) launched TARPtales.org, a new website that will serve as a central repository for the latest news, reports, and congressional hearings related to the Troubled Asset Relief Program (TARP).
Armed with $700 billion in taxpayer money, TARP has been charged with keeping banks and other big businesses afloat during the economic downturn. Since its inception, TARP has come under criticism for a lack of transparency, oversight, and effectiveness. Just last week, it was reported that AIG, an insurance and financial services company, used a portion of its bailout funds to pay $218 million in bonuses to executives.
Melanie Sloan, CREW's executive director, said, "The goal of TARPtales.org is to both educate the public and hold the government accountable for all-things TARP. Before now, there has been no one place the American taxpayer could go to keep tabs on the government bailout; TARPtales.org aims to change that." Sloan continued, "With $700 billion at stake, diligent oversight is imperative. TARPtales.org should become a go-to source for anyone trying to monitor how the government is spending our money."