these newly released videos of the world trade tower attacks clearly demonstrate my conspiracy theory about 9/11...,
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accounting and competence, down the mines:
If the estimated savings from the new tax breaks are included, the [total amount of federal] assistance [to the financial sector] would climb to $2.46 trillion. That total does not include other measures not focused directly on banks, such as Treasury Department's $200 billion in support for Fannie Mae and Freddie Mac, and the Federal Housing Administration's $300 billion HOPE for Homeowners program.
Amit R. Paley:
For all this activity, no formal action has been taken to fill the independent oversight posts established by Congress when it approved the bailout to prevent corruption and government waste. Nor has the first monitoring report required by lawmakers been completed, though the initial deadline has passed.
"It's a mess," said Eric M. Thorson, the Treasury Department's inspector general, who has been working to oversee the bailout program until the newly created position of special inspector general is filled. "I don't think anyone understands right now how we're going to do proper oversight of this thing."
Rep. Barney Frank (D-Mass.), who chairs the House Financial Services Committee, said his concerns about oversight diminished after the Treasury program's focus shifted from purchases of financial firms' troubled assets to capital injections into companies. "The concern was they'd be buying assets and we wouldn't know the price," Frank said. The revised bailout program "doesn't have the conflicts of interest and the other things people were concerned about."
The oversight is very rigorous, it is overseen with such rigor that there is no oversight to spare for what it is that needs to be overseen so rigorously. Instead I became a miner, because down the mines it's all dark and there's no need for any oversight at all, because there's nothing down there to see.
:: posted by buermann @ 2008-11-13 19:14:36 CST |