Roughly half of the $700 billion bailout, Warren added, was “don’t ask, don’t tell money. We didn’t ask how they were going to spend it, and they didn’t tell how they were going to spend it.”
via Elizabeth Warren Talks Toxic Assets On MSNBC (VIDEO).
Really?
Who hands out $350 billion (that’s billion with a “B”) without usage and reporting requirements?
The population of the US is estimated to be 305 million. So that’s $1,150 per person being given to banks with no strings attached?
What am I missing? Surely governments don’t work that way. No government department I’ve ever worked with gave away money without usage and reporting requirements.
