An Ol' Broad's Ramblings
Neil Barofsky, the White House-appointed watchdog over the $700 billion Congress-approved bank rescue, warns that the so-called TARP money is ripe for fraud.
The special investigator general for the Troubled Asset Relief Programs told Congress in testimony that rip-offs and misuse could cost billions in taxpayer dollars.
“We are looking at the potential exposure of tens if not hundreds of billions of dollars in taxpayer money lost to fraud,” Barofsky said.
“History teaches us that an outlay of so much money in such a short period of time will inevitably draw those seeking to profit criminally.”
Let’s see…you combine a bunch of feckless weasels with a LARGE dollar amount, what do you think is going to happen? Ya think they’re going to be responsible grown ups? Pfft! We’ve got children with their first allowance in a candy store.