From:
George Dawson
Date:
Nov 30 07:01 UTC
Short link
That's easy - a lack of complete disclosure to the American people.
Apparently nothing has been learned. I wouldn't expect the politicians to
learn anything but the people right now should be demanding a scorecard of
where the money is and the structure of the financing should be explained in
understandable language.
I don't see that anywhere except on fairly esoteric financial blogs, where you
have to speak the lingo to make any sense out of it. The New York Times seems
to be tracking the TARP funds for now:
http://projects.nytimes.com/creditcrisis/recipients/table but this is by no
means all of the stimulus money.
The current government pledges stand at $7.4 trillion - well beyond the scope
of TARP. For context - according to the Fed current outstanding mortgage debt
stands at about $14 trillion and the total market value of publicly traded
American companies is about $11.5 trillion.
George Dawson
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How is The Financial Crisis Similar to Starting a War in Iraq?
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