New GAO Reports – Government Support for Bank Holding Companies, InfoSec, James Webb Space Telescope

by Sabrina I. Pacifici on January 8, 2014

  • GOVERNMENT SUPPORT FOR BANK HOLDING COMPANIES - Statutory Changes to Limit Future Support Are Not Yet Fully Implemented, GAO-14-174T, Jan 8, 2014: “GAO found that from 2007 through 2009, the federal government’s actions to stabilize the financial system provided significant funding support and other benefits to bank holding companies and their subsidiaries. The Board of Governors of the Federal Reserve System (Federal Reserve Board), the Department of the Treasury (Treasury), and FDIC introduced new programs with broad-based eligibility that provided funding support to eligible institutions, which included entities that were part of a bank holding company and others.”
  • INFORMATION SECURITY - Agency Responses to Breaches of Personally Identifiable Information Need to Be More Consistent, GAO-14-34, Dec 9, 2013: “According to agency officials, the Department of Homeland Security’s (DHS) role of collecting information and providing assistance on PII breaches, as currently defined by federal law and policy, has provided few benefits.”
  • JAMES WEBB SPACE TELESCOPE - Project Meeting Commitments but Current Technical, Cost, and Schedule Challenges Could Affect Continued Progress, GAO-14-72, Jan 8, 2014: “JWST is one of NASA’s most complex and costly science projects. Effective execution of the project is critical given the potential effect further cost increases could have on NASA’s science portfolio. The project was rebaselined in 2011 with a 78 percent life-cycle cost estimate increase –now $8.8 billion–and a launch delay of 52 months–now October 2018. GAO has made a number of prior recommendations, including that the project perform an updated cost and schedule risk analysis to improve cost estimates.”

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