Auditors fault Treasury oversight of bailout funds - Yahoo! News: "WASHINGTON – The government must toughen its monitoring of the $700 billion financial bailout to ensure that banking institutions limit their top executives' pay and comply with other restrictions, federal auditors said Tuesday in the first comprehensive review of the rescue package.
The Treasury Department has no mechanism in place to track how institutions are using $150 billion in taxpayer money that the government injected into the banking system as of last month, the Government Accountability Office concluded in its report to Congress."
Norton's comment: Surprise, surprise! Put kids in charge of a candy store, and expect them to eat it all and denie it all. Human nature is at work here. But we MUST insist on better. It is our money!
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