Sen. James Inhofe (R-OK) is making waves by criticizing Treasury Secretary Paulson's handling of the bailout and saying that Congress should take back whatever is left of the $700 billion "blank check" it issued to the Bush administration in October. In a letter posted on his website, Inhofe told his Senate colleagues that he intends to push for immediate legislation that would require Congressional authorization for any further payouts.
The ultra-conservative Oklahoma Republican told the Tulsa World, "It is just outrageous that the American people don't know that Congress doesn't know how much money [Paulson] has given away to anyone. ... It could be to his friends. It could be to anybody else. We don't know. There is no way of knowing. ... He was able to get this authority from Congress predicated on what he was going to do, and then he didn't do it."
Paulson is a former CEO of the giant investment banking firm Goldman Sachs, which is assumed to be a primary beneficiary of the bailout plan. ThinkProgress warned in September, "The conflict of interest provides all the more reason for the bailout legislation in Congress to have more stringent oversight that the administration opposes."
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1 comment:
That is a fact and Paulson hopes to get away with his crime spree. I love to hear the Journalist say Hank is doing a great job, when he doesn't know what the hell he's doing and can't even explain the lies he's telling. The Foreign Leaders said it best they will just wait for Obama to take office because the Bush team has no idea what their doing except giving away the money.
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