Not only is money being passed out from the Fed while they refuse to reveal its destination, but the bailout itself in progress is proceeding with no oversight or accountability.
$290 billion of the package has already been committed, but:
Hm, now that is highly encouraging. But, then, this is what happens when you give the government billions of tax payer dollars to solve problems that they themselves caused. Somehow, the money isn't allocated just like they said it would be. Pretty soon, it's gone, and they need -another- stimulus package. So many industries to bail out, so many Americans to pay for it, so many politicians to make sure they get a slice as it passes by. It's like filling a kiddie pool one bucket at a time, with people dipping it out with cups to drink as you go.
There is a famous Latin expression:
Quis custodiet ipsos custodes?
("Who will watch the watchers?")
That, as the American people, is our job. The government cannot be trusted to watch itself, especially with our money. In this case, they don't even have watchers, let alone anyone to hold the watchers accountable. Anyone still wondering why congress' approval ratings are lower than Bush's?
-()4|<.
$290 billion of the package has already been committed, but:
"Yet for all this activity, no formal action has been taken to fillthe independent oversight posts established by Congress when itapproved the bailout to prevent corruption and government waste. Norhas the first monitoring report required by lawmakers been completed,though the initial deadline has passed.
"It's a mess," said Eric M. Thorson, the Treasury Department'sinspector general, who has been working to oversee the bailout programuntil the newly created position of special inspector general isfilled. "I don't think anyone understands right now how we're going todo proper oversight of this thing."
Hm, now that is highly encouraging. But, then, this is what happens when you give the government billions of tax payer dollars to solve problems that they themselves caused. Somehow, the money isn't allocated just like they said it would be. Pretty soon, it's gone, and they need -another- stimulus package. So many industries to bail out, so many Americans to pay for it, so many politicians to make sure they get a slice as it passes by. It's like filling a kiddie pool one bucket at a time, with people dipping it out with cups to drink as you go.
There is a famous Latin expression:
Quis custodiet ipsos custodes?
("Who will watch the watchers?")
That, as the American people, is our job. The government cannot be trusted to watch itself, especially with our money. In this case, they don't even have watchers, let alone anyone to hold the watchers accountable. Anyone still wondering why congress' approval ratings are lower than Bush's?
-()4|<.
Posts
No comments:
Post a Comment