Saturday, February 28, 2009

A Conflict of Interest?

This is just disgusting.

"Sununu Sits on TARP Oversight Panel, and on Board of Bank That Administers TARP"
  • John Sununu, who serves on the Congressional Oversight Panel monitoring the government's bailout progam, has joined the board of a subsidiary to Bank of New York Mellon -- a firm that, in addition to receiving bailout funds, has been hired by the Treasury Department to administer the program.
  • Given that the Congressional Oversight Panel (COP) is charged broadly with assessing how the TARP program is working, in order to help Congress determine whether to continue injecting capital into the financial sector, the arrangement would appear to create a significant conflict of interest for the former New Hampshire GOP senator.
  • Sununu's conflict, then, appears clear.
Is there no end to the, the, the -- I don't have a word to go here. Inbred? Illegal? Unethical? Corrupt? Unscrupulous? Wrong? Greedy? (Well, that goes without saying.)

My vocabulary-- and my thesaurus -- have failed me.

Who is paying attention? And why is this being allowed?

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