TARP Corps. Owe More Than $220M in Back Taxes

"Second, we have begun an audit into the process under which Bank of America received $45 billion in capital investment and is to receive a guarantee relating to approximately $100 billion of toxic assets in four separate TARP transactions under three different TARP programs," he said.

Barofsky said, however, that he was having trouble staffing his office, partly because it is a temporary agency and there are restrictions on pay and on conflict of interest rules. Many of the potential employees have worked for companies that would be targeted for oversight or have a financial interest in those companies, he said.

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