Bailout Recipients Subject to Criminal Penalties

LAT: Neil J. Barofsky, special inspector general for the Troubled Asset Relief Program, said his intent was to shed more light on the workings of the widely criticized program. He already has lobbied successfully to have all TARP award agreements and vendor contracts posted publicly online.

"We want to bring transparency to areas that previously were dark so the American people, who have invested so much, can see what's going on," Barofsky said.

He was to release a 188-page report today on his efforts since he was appointed two months ago. The report says Barofsky also will require senior bank executives to certify under criminal penalty their plans for complying with the executive pay limits that the Obama administration will impose on TARP recipients.
Read the executive pay rules here.