The Bank Police? Sadly, yes

Why does seemingly every Federal agency need its own cops? 

The latest department to be so equipped is the Special Inspector General of TARP.  That's right, the bank bailout administrators apparently have a police force - complete with guns, badges and fully-outfitted prowl cars:

"It has 45 investigators who are empowered to carry guns and badges, and 27 vehicles with sirens and lights spread out in its branch offices across the country."

Because, you know, white-collar bank fraud cases generally rate a Code 1, red light-running response and all.

Old Washington hands, who asked to remain anonymous for fear of publicly engaging in bureaucratic turf wars, called the agency's cars and sirens 'ridiculous,' and 'ludicrous.'"

We agree, although we'd probably use slightly saltier language. 

"As early as last summer, SIGTARP agents were participating in raids alongside other law enforcement agencies. They worked with FBI agents in a raid on Colonial Bank in Orlando, Florida in an investigation into possible TARP-related fraud."

Since the TARP fraud investigators work so closely with those other agencies, why can't they rely on them to make arrests without also having their own armed agents?  This sure appears to be an unnecessary redundancy of resources.  No matter, though, since the taxpayer's pockets are bottomless.

We won't even bother to mention the hypocritical fact that more and more federal employees every day seem to get to carry guns in public no matter how peripheral their law-enforcement role, all while the current administration is so hell-bent on denying law-abiding citizens their right to do the same.