In flagrant contempt of its lofty promises, the federal government has failed to provide formal oversight for President Bush XLIII’s unConstitutional bail-out.
The federal shysters wasted no time in committing $290 Billion of the $700 Billion allocated by Congress before Treasury Secretary Henry Paulson said yesterday, Well, oops, You know how we told you fools we were gonna spend it one way? Well, I changed my mind!
But they’ve moved much more slowly in imposing oversight. No formal action has occurred to fill independent oversight slots intended to prevent waste and corruption, and the deadline for submission of a required monitoring report has passed, with of course no report having been filed, according to this morning’s Washington Post.
This should surprise no one. Since the days of Alexander Hamilton, who became our nation’s first Treasury Secretary, federal power-mongers have offerred absurd guarantees that administrative restraints would protect the people from tyranny. It’s been more than 200 years. Isn’t it time we stopped falling for with this?