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Wednesday, December 3, 2008

Bailout Lacks Oversight, GAO Says


'The rapid pace of implementation and evolving nature of the program have hampered efforts to put a comprehensive system of internal control in place,' [a new GAO report] said. 'Until such a system is fully developed and implemented, there is heightened risk that the interests of the government and taxpayers may not be adequately protected and that the program objectives may not be achieved in an efficient and effective manner.'(Washington Post, Wednesday)

The blind following the blind?

FEE Timely Classic:
Political Accounting by James Bovard