Tuesday, December 2, 2008

No one could have foreseen that foresight was necessary

I know we've all gotten used to a complete lack of oversight these last few years so any competent review of government policy is bound to come as something of a shock. But this is just plain goddamn ridiculous.
The head of a new Congressional panel set up to monitor the gigantic federal bailout says the government still does not seem to have a coherent strategy for easing the financial crisis, despite the billions it has already spent in that effort.

Elizabeth Warren, the chairwoman of the oversight panel, said in an interview Monday that the government instead seemed to be lurching from one tactic to the next without clarifying how each step fits into an overall plan.

“You can’t just say, ‘Credit isn’t moving through the system,’ ” she said in her first public comments since being named to the panel. “You have to ask why.”
That's right. It took a Harvard Law School professor to remind everyone that the government should probably stop and think about its plan before, you know, enacting its plan.

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