May the Odds be in Your Favor...

NOT shocking at all that the people whom run Social Security, Medicaid, Medicare, DMV, etc, etc...are inept at fixing the problem they created. recall the definition of insanity, how about an oxymoron. Who says these companies are "...too big..." to fail. Why are WE paying these "retention" bonuses for the so called brightest minds. You mean the same birght mind that created the issue. Nevertheless I digress I shall leave it to professional journalist to relay some info to you.

Bank bailout may hurt taxpayers, be open to fraud Inspector general cites potential flaws in bank bailout, urges Treasury to adopt safeguards

    * Jim Kuhnhenn, Associated Press Writer
    * Tuesday April 21, 2009, 12:27 am EDT

WASHINGTON (AP) -- Taxpayers are increasingly exposed to losses and the government is more vulnerable to fraud under Obama administration initiatives that have created a federal bank bailout program of "unprecedented scope," a government report finds.

In a 250-page quarterly report to Congress, the rescue program's special inspector general concludes that a private-public partnership designed to rid financial institutions of their "toxic assets" is tilted in favor of private investors and creates "potential unfairness to the taxpayer."

The report, which examines the six-month old, $700 billion Troubled Asset Relief Program, is scheduled for release Tuesday.

Using blunt language, Inspector General Neil Barofksy offers a series of recommendations to protect the public and takes the Treasury to task for not implementing previous advice. The report also commends Treasury and the Federal Reserve for creating some safeguards. (want more of this article)