Bush Administration Screws Taxpayers With TARP Loophole

   It looks as if the Bush Crime Syndicate has fucked us once again with the TARP funding for Wall Street.

    From  MSNBC:

[A]t the last minute, the Bush administration insisted on a one-sentence change to the provision, congressional aides said. The change stipulated that the penalty would apply only to firms that received bailout funds by selling troubled assets to the government in an auction, which was the way the Treasury Department had said it planned to use the money.

Now, however, the small change looks more like a giant loophole, according to lawmakers and legal experts. In a reversal, the Bush administration has not used auctions for any of the $335 billion committed so far from the rescue package, nor does it plan to use them in the future. Lawmakers and legal experts say the change has effectively repealed the only enforcement mechanism in the law dealing with lavish pay for top executives.

  Are we surprised? What I think that we need to do this Christmas is to get our lawmakers some " Hooked On Phonics " sets so that these clowns can learn to actually read these laws/bills which they pass.

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