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http://www.gao.gov/new.items/d1016.pdf
Examiner Editorial: Uncovering the bull under the bailout | Washington Examiner (http://www.washingtonexaminer.com/opinion/Uncovering-the-bull-under-the-bailout-8426220.html - broken link)
Quote:
"Measuring the effectiveness of TARP's programs has been an ongoing challenge," the GAO report said, adding that "any changes attributed to TARP could well be changes that would have occurred anyway" -- due to policy interventions, the actions of financial regulators or even natural market corrections. In other words, a year after Congress burdened present and future taxpayers with a debt of immense magnitude, government auditors still can't say for sure that TARP accomplished anything toward preventing a financial collapse.
So there you have it: Treasury officials lied to Congress and the public, and refused to demand even a basic level of accountability from TARP recipients while borrowing hundreds of billions of dollars that taxpayers will eventually have to pay back, plus billions in interest. Incredibly, just Wednesday, President Obama announced a new TARP-like program for small businesses and community banks.
How long before the WH mounts an attack on the IG overseeing TARP? He has raised the alarms, he has exposed the lack of accountability, he has exposed the cover-up and lies.
Millions were crying foul and "NO BAILOUT", but the politicians again didn't listen.
And, if you recall that bill failed to pass the first time.
You can thank the Republicans for that.
Remember Pelosi's scathing speech..blaming the Republicans for not passing that bailout bill ?
Pelosi fought to get that bailout passed. Last time I looked Pelosi was a Dem.
Ben is busy deliberating how to take a trillion out of the economy.
Geeez. He already has the means and is under no time constraints at all. He'll wait until he has near 100% confidence of zero-risk. Nobody wants to be sent back to Square-1 at this point, you know...
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