Thread: The New Bailout
View Single Post
Old 06-09-2009, 01:47 PM   #187
classicman
barely disguised asshole, keeper of all that is holy.
 
Join Date: Nov 2007
Posts: 23,401
I heard an interview this morning with Elizabeth Warren, Chair of the TARP Congressional Oversight Panel. She was discussing how the legislation was specifically written "ambiguously" so that if/when the banks pay back the money we, the taxpayers have no right to the money. In fact, according to her, the administration has the right to utilize that money however they see fit. In short we may (read probably) will never actually get paid back.

Furthermore, she said that she has been requesting more information on the banks and the stress tests. She cannot perform the functions of the position which they empowered her with.
Paraphrasing... I would just like them to be more open, transparent and forthcoming with the information from the stress tests so that we (an independent body) can look at how things are and may be affected by different economic indicators..."
__________________
"like strapping a pillow on a bull in a china shop" Bullitt
classicman is offline   Reply With Quote