The Evanston Everyman 4/23/09
If good looks was a minute/ You know that you could've been an hour- Smokey Robinson, 'The Way You Do The Things You Do'
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The inspector general for the TARP program announced Tuesday that more than $2 trillion of the $3 trillion dollars handed over to the financial industry lacks proper accounting. If you use the FBI figure that 10% of all federal money given to the private market gets lost to fraud, you have $30 billion dollars. Over the first three months of the year companies like GM, AIG, Citigroup, and others spent $9.2 million to lobby the government for more funds. GM received an extra $5 billion dollars last week, and Chrysler received $500 million in temporary loans to stem the tide until their restructuring deadline. Yet The Post reported that Chrsyler Financial turned down financial aid because their executives did not want to accept mandated compensation limits. Meanwhile, the rest of us struggle to make our bills and hold up our heads. Don’t let the Man ever fool you. He’ll always get his.
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