March, 24 2009, 10:31am EDT
For Immediate Release
Contact:
Jordan Libowitz,,jlibowitz@citizensforethics.org,.
CREW Launches tarptales.org - Keeping Tabs on All-Things TARP
WASHINGTON
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."
Citizens for Responsibility and Ethics in Washington (CREW) is a nonprofit 501(c)(3) organization dedicated to promoting ethics and accountability in government and public life by targeting government officials -- regardless of party affiliation -- who sacrifice the common good to special interests. CREW advances its mission using a combination of research, litigation and media outreach.
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