Last week the Congressional Oversight Panel, created last fall to oversee the Treasury Department's implementation of the Troubled Assets Relief Program (TARP), released its third report on how and where TARP money has been spent.  You may have missed the report amid all the stimulus bill negotiations and debates, but you probably caught the headline that the Treasury got back a lot less in assets than it paid in:

The Panel’s analysis revealed that in the ten largest transactions made with TARP funds, for every $100 spent by Treasury, it received assets worth, on average, only $66. This disparity translates into a $78 billion shortfall for the first $254 billion in TARP funds that were spent.

The panel's chair Elizabeth Warren, says the Treasury should have been clearer with the American people in explaining the report's findings in the below video. 

You can find the full report here.