TV News LIES

Sunday, Sep 25th

Last update05:20:13 AM GMT

You are here News Editorials The New Trough

The New Trough

E-mail Print PDF

The Wall Street bailout looks a lot like Iraq — a "free-fraud zone" where private contractors cash in on the mess they helped create.

As soon as the bailout was announced, it became clear that Treasury officials would hire outsiders to perform their jobs for them — at a profit. Private companies wanting to help manage the bailout were given just two days to apply for massive, multiyear contracts. Since it was such a mad rush — after all, the entire economy was about to implode — there was no time for an open bidding process. Nor was there time to draft rigorous rules to make sure that those applying don't have serious conflicts of interest. Instead, applicants were asked to disclose their conflicts and to explain — and this is not a joke — their "philosophy in fulfilling your duty to the Treasury and the U.S. taxpayer in light of your proprietary interests and those of other clients." In other words, an open invitation to bullshit about how much they love their country and how they can be trusted to regulate themselves.

More...


Most Recent Related Stories...


Alex Baer: The Excellence of Less

El-cap-oIt was a complete surprise when I got word from the Trump campaign that I had...

Alex Baer: Stay Calm, We Have a White Flag

droneAdd another quote, maybe, to the lexicon of our self-confusion:  "We have met the enemy, and...

Alex Baer: Let's Pretend Words Still Have Meaning

words have meaningWhen there are no major upheavals on the scene, and things are percolating along on a...

Alex Baer: Tales of the Orange Piñata

Trump as pinataAnother day, another passel of brain cells slaughtered by Reality.Take Trump, for example -- please.  And...
 
America's # 1 Enemy
Tee Shirt
& Help Support TvNewsLIES.org!
TVNL Tee Shirt
 
TVNL TOTE BAG
Conserve our Planet
& Help Support TvNewsLIES.org!
 
Get your 9/11 & Media
Deception Dollars
& Help Support TvNewsLIES.org!
 
The Loaded Deck
The First & the Best!
The Media & Bush Admin Exposed!