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DON'T SAVE A CEO OR LIFESTYLE / START TRUE BAILOUT OVERSIGHT
With AIG asking for another 10 billion, an imminent big Three auto bailout in the works and countless Banks, CEO's and Investment houses feeling the largesse of the Treasury ~ it's time to stop laughing, begin an effective oversight and assess the waste: Allen L Roland
Here are the facts, regarding the bailout ~ virtually none of the billions of taxpayer dollars approved for the bailout has been earmarked for families facing foreclosure. And the Government Accountability Office has reported that the program lacks ways to ensure that banks are properly using the money.
Half of the $700 billion in economic bailout funds has been spent so far. What's the impact been? Where's the money going ?
Here's a satirical and appropriate one minute Video to set the stage ~ The money you give won't just save a life, it'll save a lifestyle . Click on ~ http://www.informationclearinghouse.info/article21417.htm
But if you're looking for leading questions that demonstrate the complete scorn that the Oversight Panel, chaired by Harvard University law professor Elizabeth Warren, has for Treasury's inconsistent, ad hoc and zig-zag efforts to avert the collapse of the U.S. financial system, then you will enjoy the 38-page report, which also works quite well as a detailed summary of Treasury's actions to date ( Courtesy of Andrew Leonard, Salon.)
Ten questions for Hank Paulson
Excerpt of Warren's direct style: " We are here to ask the questions that we believe all Americans have a right to ask: who got the money, what have they done with it, how has it helped the country, and how has it helped ordinary people? It is unclear whether there have been any efforts to assess the business plans, the management, or the accounting and general transparency of firms receiving aid from the Capital Purchase Program." http://images.salon.com/img/htww/htww.png
If you're not outraged, you're on life support !
Tell Congress that the bailout must serve the public interest by helping those hit hardest by the economic crisis!
Allen L Roland http://blogs.salon.com/0002255/2008/12/11.html
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