Where the money goes, nobody knows

Elizabeth Warren, chair of the Congressional Oversight Panel, has a great discussion with Jon Stewart about where our money is going in the government’s attempt to fix the banks:

(h/t Jordan)


As an aside, Matt Taibi has some questions for “teabaggers”:

1. If you’re so horrified by debt and spending, where were your tea parties when George Bush was adding $4 trillion to the federal deficit?

2. If you’re so outraged by the bailouts, where were your tea parties when the bailouts were first instituted by Henry Paulson and George Bush last fall?

3. If you’re so troubled by pork, where were your tea parties when the number and cost of congressional earmarks rose spectacularly in each year of Republican congressional rule between 1996 and the end of the Republican majority in 2006?

One Comment

  1. Ian

    I wish he could’ve interviewed her for a longer duration. Its nice to hear someone discuss this stuff with what sounds like an objective way of looking at things. The news channels want you to be outraged one way or another (“Greedy Wall Street bankers did this to us!” “Regulation is socialism!”) and all the while we aren’t really watching whats going on behind the scenes and we don’t understand it.

    The teabagging thing is frightening. Not because many of the people at it don’t really understand what they are protesting (thats probably standard for ANY mass protest). Its scary because the whole thing was basically orchestrated by Fox News so that Fox News could report on it. They’ve now crossed a line between just sitting back and spouting partisan nonsense about whats happening in the world, to actually generating the event to report on. Their viewship skyrocketed because of it, which means they made a lot more money on advertising. We’ve discussed this a lot on this site, with me being staunchly against biased news reporting, even if that is an impossible ideal. Now we see what this kind of a news media can lead to, and there’s no reason to think that it can’t become something even worse. Its equally scary to me if MSNBC did something similar. This isn’t just because its Fox News.