Thursday, November 13, 2008

Our MBA President at work

Bailout Lacks Oversight Despite Billions Pledged
Watchdog Panel Is Empty; Report Is Unfinished
By Amit R. Paley
Washington Post Staff Writer
Thursday, November 13, 2008
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.
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.

Did we really expect W and his minions to manage this massive program effectively?
For W and his minions, "oversight" is a dirty word, implying needless Government involvement in what ought to be a ... wait!
This is a Government program!!!
... hmmm. I guess "oversight" just means someone is watching W and his minions to make sure We the People are getting a fair shake. Okay - that would explain why W is loathe to do it!

Stop the madness!!!

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