"Trust Us" Say The "Good Hands" Of The US Government

[Annie]

Transparency? Not so much:

Watchdogs: Treasury won't disclose bank bailout details | McClatchy

Posted on Tue, Mar. 31, 2009

Watchdogs: Treasury won't disclose bank bailout details

Chris Adams | McClatchy Newspapers

last updated: March 31, 2009 0854 PM

WASHINGTON — The massive programs designed to rescue the nation's financial sector are operating without adequate oversight, with vague goals and limited disclosure of their details to the taxpayers who are paying for them, government watchdogs told a Senate panel Tuesday.

The Troubled Asset Relief Program, or TARP, was launched in the midst of last fall's collapse of the nation's banking system and is designed to get loans flowing to businesses and individuals.

But "without a clearer explanation" about parts of the program, "it is not possible to exercise meaningful oversight over Treasury's actions," said Elizabeth Warren, a Harvard Law School professor who leads a special congressional oversight panel monitoring the TARP program. Her comments came in a Senate Finance Committee hearing on the bailout program.

Noting that TARP passed Congress six months ago, Warren said that her group has repeatedly called on the Treasury Department to provide a clear strategy for the program — and that "the absence of such a vision hampers effective oversight."

Although she has asked Treasury to explain its strategy, "Congress and the American public have no clear answer to that question."...

Feeling all warm and cozy now?

 

[driveby]

Ehhh don't sweat it, they know what to do with your money, you don't....

 

[editec]

It fun to see the sheeple waking up.

This economic meltdown is almost worth all the inconvenience just to see people finally getting it.

 

[neurosport]

It fun to see the sheeple waking up.

This economic meltdown is almost worth all the inconvenience just to see people finally getting it.

well during great depression unemployment only got up to 25% or so.

it would need to get up to 50% this time in order for people to really GET IT.

and forget about old people losing their social security - that won't do shit. you need white men 18 to 24 years old starving to death - then something will happen.

regarding prosecuting Bush administration Obama said we should look to the future instead. well as long as Americans think they have a future they will keep getting fucked. once they realize there ain't no future left they may finally want REVENGE and therefore take care of the SOURCE of the problem.

if lets say a couple thousand politicians and bankers get burned alive on live TV that will quickly make students in Yale and Harvard change their majors from business, law and political science to medicine and engineering.

politicians and bankers have all the incentive in the world to lie and cheat and no incentive whatsoever to be honest or responsible. it's not their fault that people don't properly "reward" them for their "service" to their country.