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GG090421: It's a TARP!

April 21, 2009

TARP Watchdog Urges Better Oversight“The significant Government-financed leverage presents a great incentive for collusion between the buyer and seller of the asset, or the buyer and other buyers, whereby, once again, the taxpayer takes a significant loss while others profit,” … — “Presents a great incentive” is just a nicer way of saying “inherently vulnerable to fraud, waste and abuse … conflicts of interest … collusion … and … money laundering.” [Crimes suspected in 20 bailout cases — for starters] though it sounds more crime-y when you say it that way. And yes, this shit is going to cost “up to $3 trillion.” That’s how much my plan of distributing $10,000 to every man, woman and child in the United States would have cost. My plan had the advantage of being simpler, and you know, would have fucking helped. —

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