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February 9, 2009 at 17:18:39     Permalink Senator: "We've Seen Money Go Out The Back Door Of This Government Unlike Any Time In The History Of Our Country" Diary Entry by George Washington (about the author)

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"Nobody knows what went out of the Federal Reserve Board, to whom and for what purpose. How much from the FDIC? How much from TARP? When? Why?"

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A senator has revealed that - even today - congress is as much in the dark about the financial bailouts as the American people.

Specifically, Senator Dorgan said:

“We’ve seen money go out the back door of this government unlike any time in the history of our country,” Senator Byron Dorgan, a North Dakota Democrat, said on the Senate floor Feb. 3. “Nobody knows what went out of the Federal Reserve Board, to whom and for what purpose. How much from the FDIC? How much from TARP? When? Why?”

This isn't surprising, given that the official overseer of the TARP bailout program said that even she can't find the answers to these questions, and that the government has no coherent plan and is taking the wrong actions in response to the financial crisis.
Don't worry, though ... U.S. taxpayers are only on the hook for a mere $9.7 Trillion Dollars so far. And I'm sure that everything is being done for the best of reasons - isn't it?

 

George Washington

George Washington is a pen name. I am using the pen name, with the approval of the publisher.

 

 
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