Congressional Oversight Panel; Printed from http://cop.senate.gov.

An Update on TARP Support for the Domestic Automotive Industry

The Congressional Oversight Panel's January oversight report, "An Update on TARP Support for the Domestic Automotive Industry," found that, although it remains too early to tell whether Treasury's intervention in the U.S. automotive industry will prove successful, the government's ambitious actions appear to be on a promising course. Even so, the companies that received automotive bailout funds continue to face uncertain futures, taxpayers remain at financial risk, concerns remain about the transparency and accountability of Treasury's efforts, and moral hazard lingers as a long-run threat to the automotive industry and the broader economy.

Read the Report