So...taxpayers can be pretty sure that the unprecedented "bailout" we're financing is going to be abused by greedy profiteers? Treasury won't be responsible for due diligence, and can even waive the conflict provision?
Now, call me paranoid, but it sounds like the purpose of the bailout - ostensibly, to begin repairing our struggling economy - has gone by the wayside. It's now going to be used to fatten the pocketbooks of the same crooks who made the mess to begin with.
Call your representatives, folks...call them often, email them every day and tell them we want effective, trustworthy oversight on this. Let every House/Senate member know that we hold them personally responsible for watchdogging and accountability for these funds. It's our money and we didn't hand it over for anyone to play with. We can't leave them with the impression that no one is watching.
I'll be emailing my reps today, and at least weekly until I know this problem is on the radar in Washington, and I'll be telling everyone I know to do the same. They aren't going to fix it if they think no one's watching.
It appears that the administration may still be following the creed of markets regulating themselves. Tragic. I can only hope that the process will be completely transparent, so that others might exercise some form of oversight on this fundamental issue.
Well, it has already started, as we have seen Henry Paulson appointed one of his former Goldmen Sachs cronies to the run the bail-out until the new administration takes over.
Never mind that Paulson did not appoint a seasoned non-bias university intellectual economist, he appointed some 35 year old investment banking wall street wiz kid, of whom most of us have never heard of until now. But, I am fairly sure who has already ripped-off some average Joe six-pack investors in his stellar career!
This has shadiness, cronism and back room deals written all over it as in the fox guarding the chicken coop.
I wonder if Paulson & Bernanke have the ' ghost ' investors already lined up to line their own pockets on the way out...
So...taxpayers can be pretty sure that the unprecedented "bailout" we're financing is going to be abused by greedy profiteers? Treasury won't be responsible for due diligence, and can even waive the conflict provision?
Now, call me paranoid, but it sounds like the purpose of the bailout - ostensibly, to begin repairing our struggling economy - has gone by the wayside. It's now going to be used to fatten the pocketbooks of the same crooks who made the mess to begin with.
Call your representatives, folks...call them often, email them every day and tell them we want effective, trustworthy oversight on this. Let every House/Senate member know that we hold them personally responsible for watchdogging and accountability for these funds. It's our money and we didn't hand it over for anyone to play with. We can't leave them with the impression that no one is watching.
I'll be emailing my reps today, and at least weekly until I know this problem is on the radar in Washington, and I'll be telling everyone I know to do the same. They aren't going to fix it if they think no one's watching.
It appears that the administration may still be following the creed of markets regulating themselves. Tragic. I can only hope that the process will be completely transparent, so that others might exercise some form of oversight on this fundamental issue.
Well, it has already started, as we have seen Henry Paulson appointed one of his former Goldmen Sachs cronies to the run the bail-out until the new administration takes over.
Never mind that Paulson did not appoint a seasoned non-bias university intellectual economist, he appointed some 35 year old investment banking wall street wiz kid, of whom most of us have never heard of until now. But, I am fairly sure who has already ripped-off some average Joe six-pack investors in his stellar career!
This has shadiness, cronism and back room deals written all over it as in the fox guarding the chicken coop.
I wonder if Paulson & Bernanke have the ' ghost ' investors already lined up to line their own pockets on the way out...