Thursday 13 November 2008

REALLY? Ya think?!

BAILOUT LACKS OVERSIGHT...
Watchdog Panel is Empty; Report is Unfinished

The Washington Post reported today that money granted as a bailout for our failing economy is not being watched. Huh... Tell me something shocking cuz this news sure isn't!

I supported the bailout at first. They said some nice things and pounded in the word oversight into every speech given by a politician about this bill. The word oversight is sorely lacking in our government right now, so whenever a politician mentioned it, it made us feel all warm and fuzzy inside. Right? It made us feel like we could trust this bailout to do something, even if we knew it wouldn't help 'Main Street' right away. McCain and Obama supported it so how could we not support it? Too bad the politicians we should have listened to were the ones speaking sentences that placed the phrase "need some palpable" before the word oversight.

This bailout cannot work if there is no functional oversight. We all know this! With $290 billion already in the hands of large banks like Bank of America, no one is around to watch what happens with the money borrowed against our ever-growing national debt. There also isn't a group of people overseeing what the bill can do next. With a lame-duck Congress that will probably wait until the new session begins in January to do anything about this and doubts that anyone will understand the bill enough to oversee it's purpose, this $700 billion bailout is now another cloud looming over the hell that is 2008.

Hurrah...

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