Saturday, January 10, 2009
Idiots, The Whole Lot Of 'Em
Boy, who coulda seen this coming? The Fed hasn't been using the TARP funds as required. And Congress didn't build in enough oversight. I'm shocked. Shocked.
Can Congress really have trusted the Bush administration to do it right? Did they assume the Fed would act competently and responsibly, now, all of a sudden, for the first time? And do we chalk this up to which of the choices, when it comes to understanding George Bush: 1) incompetence, 2) inattentiveness, 3) blind ideology, 4) wanton disregard of the public interest in favor of cronies, or 5) the usual combination of all of the above?
Bush has behaved like this for eight years. We can blame him -- and it's no surprise that I do, partial to facts as I am -- but it's even more infuriating that once again, when the chips are down (WAY WAY WAYdown), Congress once again goes all hypo-pituitary and lets him get away with it.
I really believe Barack Obama wants to change these things; that he's committed to finding things that are most likely to work and to make an effort toward efficient implementation. I believe he wants to find consensus in Congress (ironically, it's that willingness that might work against him: already we hear more resistance from congressional Democrats than they ever showed toward Bush); but given past performance of Congress no matter who's in charge -- their functional inability to transcend self-aggrandizement and gotcha games -- and given the enormity of the tasks at hand, if he actually succeeds it will surpass the parting of the Red Sea as the greatest act of overcoming inertia and the laws of nature in the history of mankind.
Not that the Red Sea ever got parted.
[As if to prove my point, here's further proof of what seems obvious bull-headedness and needless obscurity. Why not just wait a couple of weeks and give the money to the Obama team? As I said: idiots, the whole lot of them.]
[[Happily, the person in charge of TARP oversight of the funds is an impressive woman.]]