TPM:
A four-person oversight panel for the Treasury's $700 billion bailout released a bewildered preliminary report this morning into how Treasury is spending its billions of dollars of taxpayer money.
U.S. stocks have declined 40 percent this year, 12 of the nation's largest financial institutions are teetering on the brink of bankruptcy, and 171 banks are on the Treasury's "problem list." Since Congress approved the bailout in October, the Treasury has allocated some $335 billion, but some of the most fundamental questions about where that money went remain unanswered.
1 comment:
Hank is like a kid let loose in the candy store. Our money is gone to friends, businesses and pay off. Many of those Law Makers are getting their cut and doing a great acting job. The Chinese played their hand to get a US bank and will soon buy out other banks. The Saudi's are looking to step up and take over Citi Groups since they have majority shares. Yes folks if only Spitzer had filed those indictments he had this wouldn't be happening. But Americans chose to follow the Govenment and Law Makers who said Spitzer should be removed for hiring a prosititue. Thank goodness those values aren't required for other Law Makers like Vitters. Even Ashcroft and Gonzales were allow to destory the Constitution without anyone saying a word.
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