Federal Eye: TARP Creates Staffing Headaches for Treasury

TARP Creates Staffing Headaches for Treasury

The Government Accountability Office has released its latest progress report on the Troubled Asset Relief Program and the Treasury Department’s new Office of Financial Stability (OFS). The Eye will not even attempt to assess TARP’s economic impact, but will instead focus on how it’s altered the federal food chain.

As of Monday, Treasury had hired 38 permanent staff and 52 temporary staff for OFS, up from five permanent staffers and 43 temporary hires in late November. The temporary staff (referred to as “detailees”) come mostly from other parts of the Treasury Department, including the U.S. Mint and IRS and from other agencies and departments, including the SEC, FDIC, Federal Reserve, HUD, and Overseas Private Investment Corporation. Treasury anticipates it will need a total of approximately 131 staffers, through a mix of permanent and temporary hires.

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