Report identifies each open GAO recommendation issued in the reports from December 2008, and January, March, June, and July 2009 and then provides a summary of Treasury’s actions to address the specific recommendation.

GAO’s eighth report assesses the Troubled Asset Relief Program’s (TARP) impact over the last year. Specifically, it addresses (1) the evolution of TARP’s strategy and the status of TARP programs as of September 25, 2009; (2) the Department of the Treasury’s (Treasury) progress in creating an effective management structure; and (3) indicators of TARP’s performance that could help Treasury decide whether to extend the program.

Testimony discusses (1) how regulation has evolved and recent work that further illustrates the significant limitations and gaps in the existing regulatory system, (2) the experiences of countries with other types of varying regulatory structures during the financial crisis, and (3) how certain aspects of proposals would reform the U.S. regulatory system.

GAO’s seventh report on the Troubled Asset Relief Program (TARP). The report describes (1) the basis for the federal assistance, (2) the nature and type of assistance and steps intended to protect the government’s interest, and (3) selected GAO-developed indicators of the status of federal assistance and AIG’s financial condition.

GAO report discusses the performance of Freddie Mac and Fannie Mae in meeting mission requirements, identifies and analyzes options to revise their structures, and discusses key transition issues.