Is the TARP Congressional Oversight Panel Off the Rails?

Not everyone is impressed with the growing politicization of the TARP Congressional Oversight Panel, including Megan McArdle and Thomas F. Cooley. To tell the truth though, I'm not sure that anyone knowledgeable is surprised by what has happened.

The panel has been a mess since the very beginning in December 2008 when COP member Congressman Jeb Hensarling received the panel's first report 8 minutes before it was published and refused to sign it.