FBI Targets TARP Fraud

TARP was meant to bail banks out for their bad behavior, but is it simply inspiring more? According to Reuters, “The FBI is working with other U.S. agencies to prevent wrongdoing related to government bailout money and the economic stimulus package, in what could be the ‘next wave’ of financial fraud cases, Director Robert Mueller said on Tuesday.” Mueller said the FBI is working to track the money and shifting its resources to New York and Wall Street. "With billions of dollars at stake—from the purchase of troubled assets to improvements in infrastructure, healthcare, energy and education—even a small percentage of fraud would result in substantial taxpayer losses," Mueller said.