Comments on: Audit: Bailout Oversight Woefully Lacking

GAO Report Says There's No Way Of Knowing How Bailed Out Banks Are Spending Taxpayer Money

[clovisbuford]

They finally acknowledged they''''ve been hiding the fact this financial titanic "officially" started to sink Dec 2007. Sure took them long enough."Posted by homespunlady at 06:30 PM : Dec 02, 2008
Not only that internal documents shows it was the Bush government watch agencies that killed plans to tighten financial requiremnets according to an AP story quoted on this site yesterday . You add the fact that Paulsen is engaged in a no strings give away to an industry that paid him over a 100 million dollars , you have to ask yourself whose side are these people on . The congress is going to have to step in and hold these people accountable , just don''t count on it till the new admin steps in.If they don''t it might be time to hit the streets, I Don''t care which party it is if you sit idly by while the tax payer gets screwwed then you are part of the problem .One would hope at some point the federal investigations get rolling and the perp walks start .

[steamed2]

Frankly, the only thing I''m amazed at regarding the so-called ''financial crisis'' is that taxpayers still haven''t organized a honest-to-god march on Congress. As a retired financial crimes investigator I can only laugh at the ''revelation'' that they failed to put any oversight in how the ''bailout'' money was being used! Paulson originally tried to have it written into the first version of the bailout law that his decisions for use of the money couldn''t be reviewed by any court of law or any administrative agency, and no one wondered why? The version that finally DID pass was just as devoid of any real oversight and now it''s clear Henry Paulson lied like a thief concerning both his intentions with the money AND what the banks would do with it once it was received, which is NOTHING! Just how apathetic and stupid is this country? What will it take to wake taxpayers up? Take a minute to check out http://www.peak.org/~LW584

[trillion1]

Who is this news to? paulson is political hack who''es only job was to steer as much of this money as possible to reward the people who caused the problem.

[earache4]

How exactly did they come up with the $700 Billion figure again?

[homespunlady]

Got to thinking that all the warning rants I posted coming to pass is a REALLY big backhanded compliment. I get to say I told you so but nobody will believe me now anymore than they believed me before the feces hit the fan.

They finally acknowledged they''ve been hiding the fact this financial titanic "officially" started to sink Dec 2007. Sure took them long enough.

Now with echos of my words ringing on the news like Christmas bells; I''m driven to turn the danged thing off and retreat into my own dreary quiet "holiday season".

There''s much more to come with plenty of unpleasantness but now is not the time to mention what may be.

Let the naive and children have one more dream and a bit of happiness if it can be found before facing grim reality.

If we close our eyes and wish real hard, click our heels and repeat sincerely maybe it will magically happen. Now repeat after me - there''s no place like home, there''s no place like home....

P.S. Happy Holidays

[jntlw-2009]

Big Surprise. The Bush cabal had zero oversight for the malfeasant misspending of billions of dollars for the Iraq war, so it would not come as a surprise that this bailout - which originally wanted no oversight - hasn''t managed to have any yet. Priorities you know - oversight of themselves is not important. But watching every move the American people make via illegal surveillance is their priority. Very screwed up administration - very openly corrupt one too. Bush and friends really need to do jail time for the unbelievable orchestrated corruption over the last 8 years. Congress and the Senate were complicit as far as I am concerned, as they did nothing to reign in an outlaw regime.

[ludvig1-2009]

Oh and I''ve never owned a foreign made car unless you count the Chevy Chevette that was made in Canada.

[ludvig1-2009]

I''m a retired Federal Nuclear Engineer that got caught up the the base closure scenario. In the priority placement program. One Nuclear Engineering job opened up that I know about, but it was offered to one of the other 500 Nuclear Engineers from Mare Island and Charleston Shipyards being closed. Priority placement says you only qualify for the job you did and nothing else. My pension today is $28,000 a year out of which I pay for a portion of my health insurance along with taxes being withheld. For comparison with state (California where I live) and local workers, the police chief here just retired with a pension of $145,000 a year, whose main function when he worked as far as I was concerned was to make sure cops took pictures of characters like me riding bikes down the street and put decoy cars in my path when I went out for a walk, and scaring the locals by making statements in the paper like "People are walking down the street to steal your cars." Today while walking down the street, this woman on the other side of the street, I suppose afraid I was going to carjack her quickly put her baby on her lap and drove off. I guess he did more than an adequate job of scaring people.

[cariboubarbi]

HOW DID WE GO FROM BEING THE RICHEST NATION IN THE WORLD TO THE MOST INDEBTED NATION IN THE WORLD?


A: TRICKLE DOWN ECONOMICS