March 14, 2009

Time for Oversight

"Our job, as we see it, is getting the best return on our investments for our stockholders."

Those were the words from a bank that has taken bailout money and invested it overseas -- maybe Dubai, maybe another place -- but the basic thing is that it was anyplace but here.

Foreign banks and economies other than ours are being bailed out. Meanwhile, people are still losing their jobs and their homes at a high rate.

Are we "stockholders"? Are the wealthy still getting richer from our resources -- doing so from principal that was loaned out of the pockets of people whose lives are going down the crapper?

Their job, as we see it, should be untangling the snarled mess of bundled debt and the assuming of responsibility to those who are floating them loans involuntarily -- not to those with enough excess cash to set it out there for raking benefits off money that belongs to others.

Bailout funds should not be going overseas. It's time for that overlooked oversight to come online, before bailout money has disappeared without a trace.

Posted by Scorpio at March 14, 2009 06:49 AM | | Technorati links |
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