Sunday, December 21, 2008

No Accounting for Anything

From New York Times:

Frank Rich:
In its own independent attempt to penetrate the bailout, the Government Accountability Office learned that “the standard agreement between Treasury and the participating institutions does not require that these institutions track or report how they plan to use, or do use, their capital investments.” Executives at all but two of the bailed-out banks told the G.A.O. that the “money is fungible,” so they “did not intend to track or report” specifically what happens to the taxpayers’ cash.

This truly was an "October surprise." As a going-away present Bush found an ingenuous way to turn over $700,000,000,0001 of taxpayer money to the private sector.

No matter how the election went, the "trickle down" bullshit was secure!
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1. that's "billions for those of you with the silver spoon in the way - twelve digits of GOP-lovin schwag - nice punking of America

3 comments:

ToLo said...

"Behind the ostensible government sits enthroned an invisible government owing no allegiance and acknowledging no responsibility to the people. To destroy this invisible government, to befoul the unholy alliance between corrupt business and corrupt politics is the first task of the statesmanship of the day." -- Theodore Roosevelt, April 19, 1906

Possibly the last "real" Republican, with a possible nod to Eisenhower.

Doogman said...

I can almost hear the cigar-chompin barrons growling 'collateral damage' and chuckling in liquid, oily tones. Don't think these pinstriped punks will go easy.

Mumzee said...

TR was only a Republican for a while. He broke with the party and ran again on the Bull Moose Party. Ike was a good Republican which is the only thing that kept him from being the best President we ever had.