More TARP Woes

We knew Pilar had it right when she asked on February 18th why TARP recipients and financial institutions "with very hard bottom lines and very tangible products" were not held to the same dollar-for-dollar financial reporting requirements as nonprofit organizations.

Her words ring more frightfully true in light of the latest news of $165 million in bonuses paid out to AIG executives, a group that has already received more than $170 billion in taxpayer bailout funds.

But don't worry folks, only another $90 billion of those bailout funds were passed from AIG onto Goldman Sachs and "several other European banks," according to the latest news from Reuters. 

Surely we should not be depending on the media to reveal the use of TARP funds. And certainly this is not the last time we'll see violations of taxpayer "donor intent" making headlines.