Trump says he won't cooperate with bailout oversight, so what is he hiding?
Advertisement
This raises the question, even before the first dollar is spent on the $500-billion business bailout in the measure, of what Trump expects to need hiding., congressional and public oversight of the spending is necessary to make sure that the bailout serves its purposes. “If you’re going to distribute the money without conditions attached ... your policy goals are not going to be achieved,” Neil M. Barofsky, who oversaw the spending from the 2008 bank bailout, told me.
The bill that emerged from Congress and that Trump signed seemed to avoid that pitfall. But with the stroke of a pen, Trump opened the way to finagling, waste and grifting.The oversight language in the virus bailout bill was the same as in the legislation that established his office, which oversaw spending from the Troubled Asset Relief Program, or TARP, the 2008 bank bailout.
That language “was an important tool to have when parts of the administration [were] uncooperative, ' Borofsky told me Monday by email. “Just having that tool, and the threat of going to Congress, was very valuable in my experience, and losing it could impede the ability of the IG to the information it needs to full its mandate under the statute.”
The oversight provisions to which Trump objects include requirements that he consult with Congress on appointing the SIGPR and staff members of the oversight office, and language giving Congress a role in bailout spending made through the Department of Veterans Affairs, the U.S. Agency for International Development and the State Department.
Indonesia Berita Terbaru, Indonesia Berita utama
Similar News:Anda juga dapat membaca berita serupa dengan ini yang kami kumpulkan dari sumber berita lain.
Column: If Trump alone can fix our coronavirus crisis, then why the hell hasn't he?Trump has the power to require companies to produce masks, gloves and ventilators for the coronavirus crisis. His refusal to do so could cost lives.
Baca lebih lajut »
Column: Enough walks already: A dog's view of stay-at-homeWhat started off as a dog's dream come true — the whole family, home with us all the time! — has become a nightmare. So much walking!
Baca lebih lajut »
Column: 'Blue Highways' author William Least Heat-Moon on the art of traveling in placeWilliam Least Heat-Moon, after visiting every U.S. county in the lower 48, is the master of the topographical journey. Now 80, he takes another trip — into the imperfect history of American democracy.
Baca lebih lajut »
Column: Economists agree with doctors that prematurely lifting lockdown would be disastrousInstacart grocery shopping and delivery workers are striking today to call for better pay and sick leave benefits based on their increased exposure to the coronavirus. smasunaga reports:
Baca lebih lajut »
Dubai firm tied to Trump posts loss as virus downturn loomsDubai's largest, fully private real estate developer posts its first yearly loss since becoming a publicly traded company, a worrying sign for the sheikhdom's already-reeling vital property market that's been hit by fallout from the coronavirus pandemic.
Baca lebih lajut »
On the coronavirus, Trump changes his mind about China (again)When it comes to the coronavirus, what's Donald Trump's posture toward China? It's a moving target.
Baca lebih lajut »