Economic Rescue Program Lacks Oversight, Says Congress' Accountability Office

The Washington Post's Amit Paley has the must read article today reporting that the Government Accountability Office (GAO) - aka Congress' way to run numbers and scrutinize projects - says the economic rescue package doesn't have enough safeguards.

Here's why you care: It is your money. The GAO filed both a full report, and a straightforward easy to read two page summary listing off the concerns. Give Paley's story a read and print and keep the two page GAO summary. You'll want this because it contains an excellent timeline of the rescue program that will help you follow the bouncing ball of the Treasury's moves to stabilize the market. Why You Care also thinks that the GAO's concerns will be echoed by a number of members of Congress each time a Treasury or Federal Reserve official testifies on Capitol Hill. Especially when the Senate finally approves the inspector general for the program. It is like a cheat cheat for the coming debate. Hang on to it, you'll be glad you did.