Political Bloviation

John Cole gets all uppity about the latest example of bad faith, lack of transparency and stonewalling around the bailout package handed to the Dept. of the Treasury:

Balloon Juice » Blog Archive » More Patriotism
Patriotism is sheltering your income to avoid paying taxes while receiving $700 billion in handouts from the middle class. Mind you, these are the same folks who are already padding their income with late fees, NSF charges, overlimit fees, and interest rates that make the mafia blush.

Awesome. I just love how the Bush administration manages just a little bit more bad faith with the legislature before leaving Washington for good

He follows on with this tidbit from Bloomberg:

“The Federal Reserve is refusing to identify the recipients of almost $2 trillion of emergency loans from American taxpayers or the troubled assets the central bank is accepting as collateral.”

Fed Chairman Ben S. Bernanke and Treasury Secretary Henry Paulson said in September they would comply with congressional demands for transparency in a $700 billion bailout of the banking system. Two months later, as the Fed lends far more than that in separate rescue programs that didn’t require approval by Congress, Americans have no idea where their money is going or what securities the banks are pledging in return.

Nothing to see here people move along. No accountability, no responsibility, just your tax money getting spent by the trillions on a wink and a handshake. Yeah just trust us,  but don’t expect us to answer questions about it.

Beware, every single time the Bush administration tries to sell something as an emergency, the tax payers get shanked and big money interests benefit at our expense. When do the adults take over again?

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