There’s No Real Oversight Of The $2 Trillion Coronavirus Relief Law

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  • #305471

    N2Doc
    Donor
    • Total Posts: 6,809
    @n2doc

    The oversight commission, which is supposed to oversee the $500 billion that Congress handed to the Federal Reserve to help local governments and businesses survive the pandemic, is made up of five members: one appointed by each congressional leader, plus a chairman agreed upon by Senate Majority Leader Mitch McConnell (R-Ky.) and House Speaker Nancy Pelosi (D-Calif.).

    Senate Minority Leader Chuck Schumer (D-N.Y.) moved quickly with his pick, naming Bharat Ramamurti, a former aide to Sen. Elizabeth Warren (D-Mass.), to the commission. But the rest of the congressional leaders didn’t name their picks until late on Friday. McConnell picked Sen. Pat Toomey (D-Pa.), a former banker and longtime ally of the financial services industry. House Minority Leader Kevin McCarthy (R-Calif.) picked Rep. French Hill (R-Ark.), another former banker.

    But it was Pelosi’s pick that irritated progressives the most. She selected Rep. Donna Shalala (D-Fla.), citing the first-term, 79-year-old representative’s experience as Health and Human Services secretary under President Bill Clinton.

    “Her leadership as Secretary of Health and Human Services will serve the American people extremely well, as she works to ensure that this historic coronavirus relief package is being used wisely and efficiently to protect the lives and livelihoods of the American people, and not be exploited by profiteers and price-gougers,” Pelosi said in announcing the appointment.

    more

    https://www.huffpost.com/entry/2-trillion-coronavirus-relief-no-oversight_n_5e9be558c5b635d25d6dbdf1

    Money will vanish, and there will never be an accounting of it. Just requests for ‘more!’….

  • #305480

    Mr. Mickeys Mom
    Moderator
    • Total Posts: 2,951
    @mrmickeysmom

    Nice going, eh? This fucking fool has a form letter ready to electronically sooth everyone and anyone trying to make him accountable in this state for anything. His tea bag loving ass sees the oil and gas industry as a bridge to whatever century he lives in.

    Hell, no... I'm not giving up...

  • #305482

    rampart
    Member
    • Total Posts: 534
    @rampart

    and congress gave him this $2T (actually $6T with the fed reserve “leveraging”) then let him get away with that signing statement.

    i am disgusted.

     

  • #305485

    peacecorps
    Member
    • Total Posts: 1,784
    @peacecorps

    <header class=”summary-header”>

    Trump removes independent watchdog for coronavirus funds, upending oversight panel

    https://www.politico.com/news/2020/04/07/trump-removes-independent-watchdog-for-coronavirus-funds-upending-oversight-panel-171943

    Maybe he won’t need to ignore it now since it won’t really ‘oversee’ anything anyway.

    </header>

    National problems (slavery/racism, income inequality, pathetic health care, weak unions) are not solved with more states' rights. Global problems (climate change, migration, trade, war, pandemics) are not solved with more national sovereignty.

    A CEO, an American worker and an immigrant sit at a table with a dozen cookies in front of them. The CEO grabs 11 of them, then leans over and warns the worker, "Watch out for the immigrant. He is trying to get your cookie."

  • #305499

    yourout
    Member
    • Total Posts: 349
    @yourout

    Need to call it what it was. A heist.
    Just like the 2008 bailout which was nothing more then a heist.

  • #305623

    Fugitive Birdie
    Member
    • Total Posts: 235
    @fugitivebirdie

    So they gave all the money to their biggest customers that owe the bank money so they won’t miss any payments.

    As long as the “small business” doesn’t have more than 500 employees per location they qualify for $10 million per location in loans.

    So that is oversight.

    Apparently all the money was spoken for in three minutes and the banks got a 5% commission on the total of the loans.

    LOL

  • #305719

    3fingerbrown
    Donor
    • Total Posts: 2,480
    @donaldtuohy

    96-0. As if anyone in Washington  gives a shit about any kind of oversight.

    All governments lie to their citizen's, but only Americans believe theirs.

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