Tuesday, 26 October 2010 08:37
'The late Bloomberg News reporter Mark Pittman asked the U.S. Treasury in January 2009 to identify $301 billion of securities owned by Citigroup Inc. that the government had agreed to guarantee. He made the request on the grounds that taxpayers ought to know how their money was being used.
More than 20 months later, after saying at least five times that a response was imminent, Treasury officials responded with 560 pages of printed-out e-mails -- none of which Pittman requested. They were so heavily redacted that most of what’s left are everyday messages such as “Did you just try to call me?” and “Monday will be a busy day!” '
Read more: Treasury Hides $300 Billion Back-door Bailout to Citibank
Tuesday, 26 October 2010 08:28
'When President Obama and Congress passed a multi-billion dollar jobs creation bill it was widely reported that tens of thousands of jobs would be saved or created as a result. Contrary opinions from opponents of the bill argued that only the free market, not government, is capable of creating sustainable, meaningful labor and that the billions spent would end up being more wasteful spending.
According to Los Angeles City Controller Wendy Greuel, the contrarians may have been right. In a recent audit and follow-up press release, the city controller’s office says that of the $111 million in stimulus funds the city has already received of the $594 originally awarded, the city has created or retained a total 54.46 jobs.'
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