The panel appointed by Congress to track Treasury’s use of the bailout funds has released its second report — and its conclusions are even more worrying than the first.
One excerpt:
It is not enough to say that the goal is the stabilization of the financial markets and the broader economy,” the panel wrote in a monthly report published today. “The question is how the infusion of billions of dollars to an insurance conglomerate or a credit card company advances both the goal of financial stability and the well-being of taxpayers, including homeowners threatened by foreclosure, people losing their jobs and families unable to pay their credit cards.
We’ll have many more soon…
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