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You know things are getting bad when even Federal Reserve officials are questioning whether we’re being ripped off. In an article today, ABC includes the following quote:
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Former Vice President of Dallas Federal Reserve: Failure of the Government to Provide More Information About Bailout Could Signal Corrruption
George Washington’s Blog
Wednesday, Nov 12, 2008
Gerald O’Driscoll, a former vice president at the Federal Reserve Bank of Dallas and a senior fellow at the Cato Institute, a libertarian think tank, said he worried that the failure of the government to provide more information about its rescue spending could signal corruption.
“Nontransparency in government programs is always associated with corruption in other countries, so I don’t see why it wouldn’t be here,” he said.
I couldn’t have put it better myself.
This article was posted: Wednesday, November 12, 2008 at 4:53 am
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