Congressional Leader Finally Demands Accountability From Treasury And Fed

I'm not going to repeat myself with a lengthy post here. But, we talked about the necessary requirement of intellectual discourse and peer review to identify the best course of actions to work our way through this crisis. And, Paulson's beer hall putsch so commonly used by those who would circumvent our democratic process to get this $700 billion plan extorted through Congress. Money we now see pissed away in bank dividends and executive bonuses. In other words, massive sums of money completely wasted without an ounce of accountability by Congress or the Goldman Sachs boys running the Treasury program. As of yesterday Paulson told us he was just kidding and now wants to try something different. Even though a month ago he stated categorically that his plan was the only plan. That's really nice. In other words, you didn't know what you were talking about yet would not allow the input necessary to develop a useful strategy. Needless to say, the entire world can basically say I told you so. This was fun. Let's do it again some time.

Finally, Congressional leader John Boehner has taken a leadership position (Notice how leader and leadership were used in the same sentence, thereby tying together actions with title. That hasn't happened too often in recent years.) by demanding transparency into the Federal Reserve's program. I suspect Boehner and others feel betrayed as money has been frittered away with no accountability. How should the American people feel for burdening us with hundreds of billions in future obligations so Wall Street could buy more Ferraris? It's about time. Let the war of accountability begin. Maybe next time we'll get something more useful out of a more thoughtful process.