Panel Slams Treasury For Losing Taxpayer Money

Saturday, January 10, 2009, AM | Leave Comment

An article about “Where Did Taxpayer Money Go? Panel Slams Treasury” by Daniel Arnall and Alice Gomstyn appeared on abcnews.com on Jan. 9, 2009.

Funny. Funny. Funny.

When I hear a joke like that, sometimes I wonder, whether I should cry or laugh.

The Congressional panel blames the Treasury for not keeping track of the bailout money – also known as the Troubled Asset Relief Program, or TARP – that was given to banks and other investment institutions.

It said in one place in the 56-page report: “Congressional Panel Leader: ‘I’m Shocked That We Have to Ask These Questions’.”

On Nov. 18, 2008, I did a post on AIG to pay $503 million to top execs. But more importantly, about where the bailout money went and the Congress and the Treasury complaining. Seven weeks later, they are still complaining.

I don’t understand it one bit. Is it nagging by the U.S. Government and the Congress? Is it simply blithering? Or Is it complaining? But what else could it be?

You cannot ask banks what they did with your money. And when the panel did, the banks refused to provide any accounting of how they are using taxpayer money.

Nagging. Blithering. Complaining.

What’s wrong with this picture? I am glad I am not doing any of those things.

Well! for one thing, I don’t know what the heck is going on. Secondly, or rather infinitely, I have come to a point where I really don’t give a damn.

Come to think of it, neither does the President, the Treasury or the U.S. Congress.

Infinite loop -1

You know in software, you can create a loop that can forever stay in the loop and if the loop is too tight, it can crash the whole system. Nobody else can work on it. The CPU chews up all the bandwith and is just stuck like the saying goes “in neutral.”

Infinite loop -2

I have a suggestion. Let the U.S. Congress create another panel to oversee the current one. Better yet, they should create a “Repeat” loop for continuously creating panels to oversee the previous ones with no condition for exiting. Keep the loop so tight that the American people will never know what goes on in that loop.

Isn’t that the intention?

Stuck in the loop

The two branches of the U.S. Government, the executive and the legislative, are stuck in that tight loop. Did they get themselves in that loop. In the words of Sarah Palin, “You betcha.”

In a Nutshell
A congressional or any other kind of government panel does not mean anything if none of the responsible people gives a damn in theory let alone put the recommendations in practice.

Read the article on abcnews.com in full: Where Did Taxpayer Money Go? Panel Slams Treasury.

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