In September, as Congress was racing to put together the Wall Street bailout legislation, the National Whistleblower Center was calling for whistleblower protections to be added to the bill. Despite their efforts, Congress did not listen. They authorized the Administration to distribute $700 Billion of taxpayer money, but refused to protect employee whistleblowers who would ensure that it would be spent correctly.
ABC News has this story detailing how the Administration and Congress have done nothing to exercise oversight while the Administration is doling out billions of bailout dollars. But, even if these measures (appointing an inspector general, and setting up a congressional oversight committee) were to materialize, they still will not be effective unless we protect employees who would step forward to report the fraud.