U.S. GAO says critical issues not yet addressed in TARP

WASHINGTON Dec 2 (Reuters) - The $700 billion financial industry rescue package being administered by the U.S. Treasury Department has "yet to address a number of critical issues," according to a draft report by Congress' investigative body.

The full report by the General Accountability Office is due to be released later on Tuesday. But according to excerpts of the draft report obtained by Reuters, GAO also said it was unclear how government regulators will monitor the use of Treasury Department investments by participating institutions. (Reporting by Richard Cowan and Kevin Drawbaugh, Editing by Maureen Bavdek)