$700 billion bailout subject to fraud, misuse

http://money.cnn.com/2008/12/02/news/economy/gao_tarp_report/?postversion=2008120218

 

There will be lots of fraud and misuse just like the funds for:

9/11 compensation.
Iraq rebuilding.
Katrina aftermath.

 

Don't mean to get off topic here but the 911 compensation. The last I read the 1b the fed ponied up for workers illness, the interest earned on the 1b has covered the costs to pay attorneys and administration expense. That is the incentive to maintain the principle and not pay out claims.

This keeps people busy and employed doing nothing till everyone dies off.

 

"$700 billion bailout subject to fraud, misuse"

Welfare of almost any kind administered by pretty much any bloated bureaucracy is a guarantee for waste and inefficiency.