Capitol Report: TARP auditor wants bank CEOs to certify they’ve checked for fraud

The Special Inspector General for the Troubled Asset Relief Program wants Congress to pass legislation that forces Wall Street CEOs to come out of the shadows and swear there’s no fraud or illegal activity in their organizations.

The Troubled Asset Relief Program, or TARP, was created by the Emergency Economic Stabilization Act of 2008, the law passed to provide all kinds of relief to banks and other companies including General Motors GM, -4.18% and AIG AIG, +0.38% The intention was to avert a financial collapse and get the economy growing again.

Christy Goldsmith Romero is the current independent watchdog, or SIGTARP, for the federal law enforcement agency that targets crime by financial institutions and executives who received TARP funds.

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