Bailout Lacks Oversight Despite Billions Pledged; Watchdog Panel Is Empty; Report Is Unfinished

[Are_grits_groceries]

<snip>
Yet 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."
<snip>
http://www.washingtonpost.com/wp-dyn/content/article/2008/11/12/AR2008111202846.html?hpid=topnews

What the hell are they doing????

[geckosfeet]

1. They planned this almost as well as they planned the war in Iraq. eom

[KillCapitalism]

7. Yeah it's like Iraq.

It'll be just like those billions that went missing over there.

[SammyWinstonJack]

8. Planned theft. Both the bailout and the war on Iraq. Thank Congress!

And still two months to go. x(

[Donnachaidh]

2. Then they should FREEZE every last cent till they comply.

How hard is it to tell Paulson to shit or get off the pot?

The money was given because they were told it was going to buy back bad loans. He did NOT do that. FREEZE the funds until he complies FULLY with the requirements.

This is juvenile and deadly actions on the part of Paulson. Give him a time frame. If he doesn't comply, call BACK every cent and FIRE Paulson.

[HereSince1628]

4. The oversight should have been a condition of disbursing all funds

Another example of the shoddy work done by _our_ professionals in DC. In the rush to go off half-cocked they don't contemplate the implications of the meaning of the words actually included legistlation.

Thank-you Congress. You just handed the GOP pirates 700 billion to do with whatever they damn well choose.

[malaise]

3. They're reading this on WJ right now

There will be hearings today - should be very interesting.

[mediaman007]

5. When you give a CEO guy (Paulson) a job that actually requires them

to do some work, the truth is they can't organize anything.

[annabanana]

6. stealing... they are STEALING.

It's the last chance to shovel huge amounts of $ out of the Treasury before regulatory restraints are fixed and they are taking full advantage of it.

[Triana]

9. Bingo! Break the treasury - leave Obama with it so he'll be hogtied. n/t

[wroberts189]

10. the answer is "Robbing us blind" n/t

[annabanana]

11. kicking because more people need to see it. .