Fiscally Irresponsible, Part IV

January 10, 2009 at 8:35 pm Leave a comment

Good one from Kim Peterson, below.  I am still in awe about the lack of accountability that was attached to these handouts.  The initial proposal sent down from the White House specifically stated that in addition to no accountablity, that even congressional oversight would not be permitted.  Here’s what Kim says:

How is it that an ATM can give my exact balance at any time, but banks can’t say what they did with $1 billion in bailout money?

Because no one forced them to. The government is handing out money like Halloween candy — no strings attached. No strict rules on what banks should do with the money or how they should account for it. Only after the fact did people see the money go to executive bonuses and other non-essentials.

Yet another uh-oh moment for the U.S. Treasury, which is getting raked over the coals for its incompetence by a congressional watchdog.   Read More…

Posted Jan 09 2009,  by Kim Peterson

Treasury Defends Bailout Bait & Switch
$50 billion of bailout going to employee bonuses
Fiscally Unsound Part II


Entry filed under: Money, Politics. Tags: , , , , .

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