It appears that the congressional panel tasked with investigating the Treasury Department’s TARP program has discovered that absolutely nothing has been done by way of oversight on the recipients of this money.

Maybe I’m a cynic, but I think that this is a feature, not a bug.

Bush and His Evil Minions^™ in general, and Henry Paulson in particular, have done their level best to ensure that not the smallest vestige of accountability accrue to those people who are most responsible for this mess, because they believe the rules of accounting and honesty should not apply to rich people.

Elizabeth Warren, who heads a congressionally appointed oversight panel, told ABC news there was no evidence the Treasury had used money from the Troubled Asset Relief Program to support the housing market by avoiding preventable foreclosures.

“There’s just no money that’s gone in that direction. This one’s not even arguable,” she said. “The TARP funds themselves have not been used in this way despite congressional statutes requiring them to do so.”

In a draft of a report to be released on Friday, the panel said the Treasury has failed to reveal its strategy for stabilizing the financial system and had done little to track how the money was used.