No Effective Oversight for $3 Trillion in Bailout Funds

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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