Anyone who thinks the Troubled Asset Relief Program (TARP) bailout money for the banks is being used by banks to write loans, should check out this Washington Post report. Taxpayers money is being misused.

The Post tells us that a report from the special inspector general overseeing the government's financial rescue program will reveal that of the 360 banks surveyed, nearly half had used the money to invest, repay debt or buy other banks. While most say they had used some of the money for loans, the revelations show there is a need for more transparency. US taxpayers need to know where their money is going. But the US Treasury says that can't be done.

Of course, when Timothy Geithner announced his bailout plan in February, he pledged full transparency. "The American people will be able to see where their tax dollars are going and the return on their government's investment, they will be able to see whether the conditions placed on banks and institutions are being met and enforced, they will be able to see whether boards of directors are being responsible with taxpayer dollars and how they're compensating their executives, and they will be able to see how these actions are impacting the overall flow of lending and the cost of borrowing."

At the time, he said people would be able to see all the details on the website FinancialStability.gov. If you check the web site, you might find a few details but nothing about whether the conditions being placed on banks are being met and enforced.

About the only true audit of the situation comes from the special inspector general. And even then, the US Government isn't listening.