Millard pled the Fifth when he was hauled before Congress in May. It’s not hard to see why.

Good legwork by the NYT, and a tip of the hat to its sister paper, The Boston Globe, which was the first to show there was a need for a closer look at this critical agency.

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Ryan Chittum is a former Wall Street Journal reporter, and deputy editor of The Audit, CJR's business section. If you see notable business journalism, give him a heads-up at rc2538@columbia.edu. Follow him on Twitter at @ryanchittum.