Tuesday, July 21, 2009

The Very-Most-Special People: Banks

And it's starting to gain traction.

The top watchdog over the financial bailout package said the Treasury Department is rejecting "common sense" by not requiring banks receiving billions of dollars in government money to say how they are using the money.

In a report to be released on Monday, Neil Barofsky said banks that have received money from the $700 billion bailout package passed last year are able to indicate how they are using taxpayer money and that Treasury should require banks to be more transparent.

Whaddya mean, 'tell us how they are using the money'? Are you KIDDING??

In and of itself, that report is not exactly political dynamite. We already knew that Geithner is a third-class papershuffler whose prior life was dedicated to comity with banks.

But that's not the end of the story.


The Obama administration's promises of "transparency" are being revealed as lies on the magnitude of "The check's in the mail" and "Sure, I'll respect you tomorrow morning." Avoiding public scrutiny of reckless misappropriation of taxpayer dollars is at least one possible motive for the legislation sponsored by Rep. John Larson (D-Conn.) -- discussed in this morning's American Spectator story about the IG investigations -- that would give President Obama power to fire and replace five IGs at federal financial oversight agencies.

"The IGs are restless. Time to fire the IGs."

Republicans on both sides of Capitol Hill express skepticism of whether Democrats are genuinely interested in investigating anything except allegations of wrongdoing by the long-gone Bush administration. Not all of this skepticism is off-the-record, and it is by no means limited to the cases of Walpin and two other former inspectors general.

Lemmeesee, heah, Gomer. The TAXPAYER forks over several hundred billion dollars to banks. Banks are not required to tell us where the money went. Some Inspector Generals raise all kinds of questions, and another is fired, then slandered. Then a Connecticut Member of the House proposes that FIVE financial-related IGs get fired and replaced by Dear Leader Obama. (Connecticut also elected Chris Dodd, (D-The Banks/Countrywide).

That odor is not coming from the Milorganite plant.

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