Posts Tagged violation of public trust

Bailout Lacks Oversight

This is what you call major violation of the public trust. It is so outrageous, there are no words for it. The Bush administration has managed to achieve one more major disaster before leaving office–give away BILLIONS of taxpayers dollars with NO OVERSIGHT. That’s right. We were told how absolutely necessary this bailout is, and we trusted they would spend our money wisely and carefully. HAH!

And now they want to bail out GM to the tune of more BILLIONS in order to save millions of jobs. And we all want to save those millions of jobs, don’t we? But who can be believed any more? Not George W. Bush. Not anyone in his administration.

Bailout Lacks Oversight Despite Billions Pledged

In the six weeks since lawmakers approved the Treasury’s massive bailout of financial firms, the government has poured money into the country’s largest banks, recruited smaller banks into the program and repeatedly widened its scope to cover yet other types of businesses, from insurers to consumer lenders.

Along the way, the Bush administration has committed $290 billion of the $700 billion rescue package.

Yet for all this activity, no formal action has been taken to fill the independent oversight posts established by Congress when it approved the bailout to prevent corruption and government waste. Nor has the first monitoring report required by lawmakers been completed, though the initial deadline has passed.

Six weeks! What have they been doing? When the hell are they going to get around to this? Is it not a priority? Shouldn’t they be on it 24/7?! I mean really!

I apologize for the shouting. This just pisses me off!

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