{"id":718,"date":"2009-02-10T05:00:00","date_gmt":"2009-02-10T10:00:00","guid":{"rendered":"https:\/\/dev.pirg-test.com\/georgia\/edfund\/resources\/failed-bailout-2\/"},"modified":"2022-08-16T13:54:47","modified_gmt":"2022-08-16T17:54:47","slug":"failed-bailout","status":"publish","type":"resource","link":"https:\/\/dev.pirg-test.com\/georgia\/edfund\/resources\/failed-bailout\/","title":{"rendered":"Failed Bailout"},"featured_media":0,"template":"","meta":{"_acf_changed":false,"_yoast_wpseo_meta-robots-noindex":false,"_yoast_wpseo_meta-robots-nofollow":false,"_yoast_wpseo_opengraph-title":"","_yoast_wpseo_opengraph-description":"","_yoast_wpseo_twitter-title":"","_yoast_wpseo_twitter-description":""},"campaign_tax":[153],"display_option":[],"issue_tax":[],"resource_type":[64],"region_tax":[],"state":[7,13],"topic_tax":[124,125],"class_list":["post-718","resource","type-resource","status-publish","hentry"],"acf":{"details":{"helper_taxonomies":{"topics":[124,125],"collection":false,"press_type":false,"person_type":false,"resource_type":64,"event_type":false,"campaigns":153,"department":false,"level":false,"states":[7,13],"act_option":false,"display_option":false,"primary":{"topic":124}},"subtitle":"Lessons for Obama from Bush's Failures on TARP","excerpt":"Following the collapse of major financial institutions Congress enacted a sweeping $700 billion taxpayer-financed bailout of the financial sector. However, months into the program and billions of dollars later, no one knows how the money was spent and no one is convinced that it\u2019s achieved any of the intended results. The U.S Public Interest Research Group Education Fund (U.S. PIRG) believes it is critical for Congress to demand and the Department of Treasury to implement mechanisms and metrics to make sure that the actions of the TARP recipients reflect the original goals and objectives of the Emergency Economic Stabilization Act (EESA). Those mechanisms must be based on the sound public policy principles of oversight and accountability.<br \/>\nThe report first establishes that what is known about how the TARP recipients\u2019 behavior before, during and after the bailout paints a dire picture of how the TARP funds were spent. It then presents a clear opportunity for lawmakers to regain some of the withering faith of the American people through widely supported execution tactics and simple communication practices with respect to TARP.","featured_image":"","caption_override":"","updated_on":null,"sidebar_action":null,"related_event":null,"hide_hero_image":false,"location":"","external_link":{"publication_name":"","url":""},"file":null,"sidebar_action_query_string":""},"helper_people_group":{"title":"Authors","entities":null},"helper_downloads":{"title":"Downloads","files":[{"file":100000000020878,"title":"Tax-Shell-Game_The-Taxpayer-Cost-of-Offshore-Corporate-Tax-Havens_GA-PIRG-EF_May-2009_0"}]},"page_layout":[{"acf_fc_layout":"layout_wysiwyg","_acfe_flexible_toggle":"","component_wysiwyg":{"content":"<p>Georgia PIRG Education Fund<\/p>","":null}}],"site_specific_content":""},"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.0 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Failed Bailout<\/title>\n<meta name=\"description\" content=\"Following the collapse of major financial institutions Congress enacted a sweeping $700 billion taxpayer-financed bailout of the financial sector. 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