No Effective Oversight for $3 Trillion in Bailout Funds

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On Tueday, three government watchdogs testified about TARP and other government bailout programs before the Senate finance committee. They offered some profoundly troubling observations about the government’s inability to monitor and oversee effectively the spending (and lending) of nearly $3 trillion in bailout funds. It’s a bit surprising that their testimony received about 1 percent of the media attention given to those AIG bonuses (a paltry $165 million) and sparked about 1 percent (or less) of the public outrage generated by those same bonuses. But I was invited to talk about the testimony with David Shuster on MSNBC:

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FACT:

Mother Jones was founded as a nonprofit in 1976 because we knew corporations and the wealthy wouldn't fund the type of hard-hitting journalism we set out to do.

Today, reader support makes up about two-thirds of our budget, allows us to dig deep on stories that matter, and lets us keep our reporting free for everyone. If you value what you get from Mother Jones, please join us with a tax-deductible donation today so we can keep on doing the type of journalism 2020 demands.

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