There’s No Real Oversight Of The $2 Trillion Coronavirus Relief Law
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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.
Money will vanish, and there will never be an accounting of it. Just requests for ‘more!’….
April 20, 2020 at 12:17 AM #305480Mr. Mickeys MomModerator
- Total Posts: 4,938
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...
April 20, 2020 at 12:32 AM #305482
April 20, 2020 at 12:35 AM #305485peacecorpsParticipant
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Trump removes independent watchdog for coronavirus funds, upending oversight panel
Maybe he won’t need to ignore it now since it won’t really ‘oversee’ anything anyway.
The Big Lie: "Make the lie big, Make it simple, Keep saying it, And eventually they will believe it." AH.
"Arguments must therefore be crude, clear and forcible, and appeal to emotions and instincts, not the intellect." JG
National issues (slavery/racism, income inequality, pandemics and 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 nationalism.
April 20, 2020 at 12:58 AM #305499youroutParticipant
- Total Posts: 438
Need to call it what it was. A heist.
Just like the 2008 bailout which was nothing more then a heist.
April 20, 2020 at 5:38 AM #305623Fugitive BirdieParticipant
- Total Posts: 298
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.
April 20, 2020 at 4:11 PM #3057193fingerbrownParticipant
- Total Posts: 3,122
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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