03/02/2009 05:12 am ET Updated May 25, 2011

Government Watchdog: TARP Still Lacks Transparency, Accountability

The U.S. Treasury's financial-rescue plan remains an incomplete operation, plagued by backlogs and a lack of clear mission, a government watchdog said in a report to U.S. lawmakers.

The Government Accountability Office said Treasury has taken steps to improve the Troubled Asset Relief Program, including starting to monitor how banks use billions of dollars of government funds, but that more needs to be done.

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