Tuesday, March 6, 2012

Government in the Tune of Green: "Despite what we've said to the Securities Exchange Commission."

Watch this through to the end. Remarkable - if entirely predictable -stuff.

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Why "entirely predictable"? Because back in 2009 in the wake of the "stimulus" bill's passage, units of the federal government (like the Energy Department) suddenly found themselves tasked with the job of distributing billions upon billions of taxpayer dollars as quickly as possible. None had the staff, the accounting infrastructure, or even basic procedural safeguards in place to do so responsibly. How could they? But nevertheless, that was the mandate - distribute as much money as possible, as quickly as possible. Cash sprayed from a fire hose. A couple dozen staff - eventually augmented by a few new hires - required (in addition to their usual duties) to somehow assess, evaluate and prioritize thousands upon thousands upon thousands of thick, detailed applications for stimulus money. A wholly impossible mandate - except for the fire hose distribution part, that is. That part was easy enough. Nobody in the history of mankind has ever had much difficulty giving away money.

With that as context, is it any surprise to find that three years on we are forced to bear uncomfortable witness to this long parade of embarrassing and wasteful failures?

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