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Bailout Monitor Sees Lack of a Coherent Plan
Democratic Underground Latest Breaking News —
... for easing the financial crisis, despite the billions it has already spent in that effort. Elizabeth Warren, the chairwoman of the oversight panel, said in an interview Monday that the government instead seemed to be lurching from one tactic to the next without clarifying how each step fits into an overall plan. You cant just say, Credit isnt moving through the system, she said in her first public comments since being named to the panel. You have to ask why.' Read more: http://www.nytimes.com/2008/12/02/business/02tarp.html
ThinkFast: December 2, 2008
Think Progress —
... Elizabeth Warren, the head of a Congressional oversight panel for the bailout, “says the government still does not seem to have a coherent strategy for easing the financial crisis, despite the billions it has already spent in that effort.” According to Warren, the government seems “to be lurching from one tactic to the next without clarifying how each step fits into an overall plan.” ...
Nobody Could Have Predicted
Eschaton —
That you shouldn't have handed $700 billion to these idiots. The head of a new Congressional panel set up to monitor the gigantic federal bailout says the government still does not seem to have a coherent strategy for easing the financial crisis, despite the billions it has already spent in that effort.
Today In Troubling Financial News
Swampland —
... gotten used to. It's like comparing Newton and Einstein: both were right but their rules governed entirely different domains. We are now morphing towards a world where the government fist is being substituted for the invisible hand, where regulation trumps Wild West capitalism, and where corporate profits are no longer a function of leverage, cheap financing and the rather mindless ability to make a deal with other people's money."
--The U.S. Treasury lacks a "coherent plan" for distributing the bailout money.
--The home price slide ...
Where's that TARP oversight?
Daily Kos —
... as we work to protect the American people's interest in this effort. Status: Not happening. Layer two: the "Congressional Oversight Panel" -- a five-member board appointed by Congressional leadership and charged with monitoring Treasury Secretary Henry Paulson's use of the sweeping authority granted to him as part of the package. Status: missed deadline on first "mandatory" report; one of the five members, Sen. Judd Gregg (R-NH), has already quit. Layer three: the "Financial Stability Oversight Board," yet another ...
No clue what they're doing
Daily Kos —
Ugh. Those of us who argued against the $700 billion based that argument on that facts that 1) we didn't have a good handle on what the problem was, so 2) it was stupid to rush to a solution that might not solve the actual problem. Throw in the additional fact that $700 billion is a whole fucking lot of money, and it seemed all so absurd. And of course, we skeptics were right. The head of a new Congressional panel set up to monitor the gigantic federal bailout says the government still does not seem to have a coherent strategy for ...
Progressive Breakfast: The States Are Hungry
LiberalOasis : The Blog —
... Management and Budget. Robert Zoellick, Portman's predecessor, is now the President of the World Bank. Mickey Kantor, Bill Clinton's first USTR, was subsequently appointed to be Commerce Secretary ... Yet on the other hand, Becerra could have a real shot at becoming the first ever Hispanic Speaker of the House."
Can We Bail out the Bailout?
Two official overseers of the financial industry bailout are unimpressed.
NYT: "Elizabeth Warren, the chairwoman of the [congressional] oversight panel, said ... the ...
