In Final Months of Bush Administration, Democrats Realize They Can’t Trust Bush Administration
Yesterday, the Government Accountability Office issued findings that the Treasury Dept. has done nothing to measure the effectiveness of its Wall Street bailout
Jul 31, 2020753.3K Shares10.7M Views
Yesterday, the Government Accountability Office issued findings that the Treasury Dept. has done nothing to measure the effectiveness of its Wall Street bailout or to ensure that the bailed out banks are complying with caps on executive pay.
Democrats, of course, are apoplectic. House Speaker Nancy Pelosi (D-Cal.) issued a statementcalling for more transparency from the Treasury by “improving its communication with Congress and the general public.” And House Financial Services Chairman Barney Frank (D-Mass.), who helped draft the bailout bill, saidthat Treasury’s refusal to use the cash to address the foreclosure crisis puts the agency “perilously close to a breach of faith” with the Democrats who supported the emergency proposal. Frank is scheduling a hearing to examine the GAO’s findings.
But what’s more shocking here: That the White House would abuse its power, or that Congress would empower it to do the responsible thing with $700 billion in taxpayer cash? How many more Guantanamo Bays, warrantless wiretapping programs, secret energy task forces and Katrina responses would it take before it reaches the conclusion that this White House is not to be trusted?
Paolo Reyna
Reviewer
Paolo Reyna is a writer and storyteller with a wide range of interests. He graduated from New York University with a Bachelor of Arts in Journalism and Media Studies.
Paolo enjoys writing about celebrity culture, gaming, visual arts, and events. He has a keen eye for trends in popular culture and an enthusiasm for exploring new ideas. Paolo's writing aims to inform and entertain while providing fresh perspectives on the topics that interest him most.
In his free time, he loves to travel, watch films, read books, and socialize with friends.
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