The congressional panel overseeing the $700 billion economic rescue plan laced into the Treasury Department today for misleading Congress over how the money is being used.
"We've been lied to. We've been bamboozled. What we have here is one big mess," said Rep. Davis Scott (D-Ga.), who like several others on the House Financial Services Committee focused on the fact that the hundreds of billions of dollars used to shore up the capital position of banks is not being felt in the form of easier credit for homeowners and businesses.
"Why has Treasury not generally required financial institutions to engage in specific mortgage foreclosure mitigation plans as a condition of taxpayer funds?" the panel asked.
Because you didn't require Treasury to do anything, bubulas, you just gave them the money. And now that the car manufacturers got their little slice of the pie, you are going to give Treasury, and thus the bankers, another $350bn, and they'll do what they damn well please with that too.