WHO: U.S. Treasury Department
WHAT: The Government Accountability Office and a congressional oversight group said Treasury has given banks billions of dollars without monitoring them to ensure the banks are abiding by government restrictions. In a new report, the congressional panel wrote,
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“Without that oversight, it is impossible to determine whether taxpayer money is used in accordance with Treasury’s overall economic stabilization strategy. Treasury cannot simply trust that the financial institutions will act in the desired ways; it must verify.”
WHY IT’S A BAD IDEA: Government failed to properly monitor and regulate the banks that fueled this crisis in the first place. Now it is failing taxpayers again? Why should taxpayers give any more money to bail out banks when there is no guarantee they are not abusing our trust?
WHERE TO VENT: Call Treasury at 202-622-2000
Today’s Dim Bulb
Up for adoption. Abandoned animals are filling area shelters — at the same time shelters are seeing a huge drop in donations. Financial reasons may make it difficult to care for your animal, but don’t drop off your pet without helping the shelter with a donation of money, food or time. When you adopt a pet you have an obligation to care for that animal to the best of your ability. Pet adoption should not be taken lightly.
Quote of the day
“If the University should identify a particular day to furlough all employees, the campus would close. … Although the current economic times are unsettling, we will weather this period just as we have done so many times in the past.” – University of Maryland, College Park, President Dan Mote in an e-mail to the campus community Monday
