Yesterday the Congressional Oversight Panel on the Wall Street bailout released its latest report: Assessing Treasury’s Strategy: Six Months of TARP (that link is to a 151 page pdf, a news release is also available).

The total value of all direct spending, loans and guarantees provided to date in conjunction with the financial stability efforts (including those of the FDIC as well as the Treasury and the Federal Reserve) now exceeds $4 trillion. This report reviews in considerable detail specific criteria for evaluating the impact of these programs on financial markets.