When arrogant elitism runs our country

Put Mssr. KnowItAll in charge of the country and his Treasury Secretary will do what he “knows” is “right” — without studying long enough to determine the potential consequences.

Stay tuned.

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Govt watchdog criticizes handling of car dealers

WASHINGTON (AP) — The Treasury Department failed to consider the economic fallout when it told General Motors and Chrysler to quickly shutter many dealerships as part of government-led bankruptcies, a federal watchdog found.

A report released Sunday by the special inspector general for the government’s bailout program raised questions about whether the Obama administration’s auto task force considered the job losses from the closings while pressuring the companies to reduce costs.

Treasury didn’t show why the cuts were “either necessary for the sake of the companies’ economic survival or prudent for the sake of the nation’s economic recovery,” said the audit by Neil Barofsky, the special inspector general for the Troubled Asset Relief Program, the $787 billion stimulus program known as TARP.

“Treasury made a series of decisions that may have substantially contributed to the accelerated shuttering of thousands of small businesses,” investigators said.

Those decisions resulted in “potentially adding tens of thousands of workers to the already lengthy unemployment rolls — all based on a theory and without sufficient consideration of the decisions’ broader economic impact,” the report said.

Read the rest of the article

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About Mark Kelly

Jesus follower, Bible reader, husband/father/son/brother/uncle, rider, hiker, snapshooter
This entry was posted in Politics and tagged , , , . Bookmark the permalink.

2 Responses to When arrogant elitism runs our country

  1. Ben Hoffman says:

    Hey, I thought you dumb-f*cks were against the bailouts. Now you complain about how they were implemented?

  2. Admin says:

    The “dumb-f*cks” – as you so eloquently put it – are the ones who think malfeasance and failure of due diligence are acceptable once the voting is over.

    I really admire both your vocabulary and your intellect, but I have a question: Why are you so squeamish about spelling out the word?

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