Lonesome Tree in Sandhills

Monday, January 12, 2009

Failing Grade for TARP

While the Golden Globe hands out cinema awards, I can think of at least 4 reasons Congress & Bush's Administration should receive a big fat 'F' for TARP:

1. failing to enforce use of the money as intended by Congress (extend credit),
2. failing to enforce transactional transparency for the money given (as agreed),
3. failing to immediately put an army of bank auditors inside the banks, and
4. failing to investigate CEO's for evidence of criminal malfeasance.

CEO's knew when they signed those 1-pg. agreements that TARP was a toothless tiger. These men did not rise up through the ranks to earn millions each year without learning something about politics both within their companies & with the Administration as well as the SEC.

Will someone with backbone & ethics please take the wheel now?
~ Informed citizens are necessary for a strong nation. ~

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