Wednesday, December 31, 2008

Bail-Out Scams

Corporate Bailout: Intentionally Bungled? : NO QUARTER

"Earlier, I posted about how executive pay can drain companies and destroy jobs. Today, I cannot help thinking about how our politicians have committed to funneling billions of tax dollars to some of the same executives who managed to personally enrich themselves while driving their companies (and our economy) into a ditch.

Naturally, this led me to think about one of the big “mistakes” that government officials made when crafting the Wall Street bailout plan: the failure (or refusal) to insist on accountability..."

Gort, where are you? We need you.

Update: Logistics Monster has a the first of a multiple-part series up on our economic mess. You really should go by and check out this post. It has one of the most comprehensive assessments of the Federal Reserve I've ever read. (I claim no expertise on the Fed, btw.)

1 comment:

Logistics Monster said...


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