[pepsionice]

What? You expected records? That would require an entire new department...which you’d have to fund.

[Diogenesis]

[1010RD]

More government incompetence or just corporatism?

[DustyMoment]

Treasury Department Blasted for Sloppy Record-Keeping on Bailed-Out Banks

WHAT!!??? The federal government did "sloppy record-keeping"?? I'm shocked, I tell ya, SHOCKED!!!



(More likely they followed the Clinton model and (to paraphrase Bill) kept all the records they intended to keep.)

[snowsislander]

From what I saw, the terms for the sale of the warrants were drawn up clearly and correctly — in fact, all of the agreements were posted on the Treasury website for quite a while, and may still be there. I read through a number of them since I was curious about the details, which the financial press did a poor job of reporting.

This particular article is about the repurchase of the warrants by the banks that want them. I don't think that the article makes a strong case about there being problematic aspects to these repurchase negotiations.

[dennisw]

Bureaucrats are sloppy all the time....on purpose. Makes it harder to exercise oversight. Plus many Federal employees are brain dead lard ass drones, lots of useless (and can’t be fired) affirmative action hires. They ain’t too bright or dedicated to their job

Some Fed employees are good but we have to many of the above

[LibLieSlayer]

Check barney franks checking account.

LLS

[TPOOH]

Don’t you get it? - Keeping shaby records of banking transactions is the whole point of the American banking system. Remember Jekyl Island.

[RSmithOpt]

Intentional & Completely Unexpected??

[mo]

..Well at least they weren’t watching porn .../s

Honestly...why should We the People continue to fund this ^&ap

[marstegreg]

“Even assuming that Treasury is making decisions in every case based on reasonable and fair rationales, in the absence of documentation Treasury leaves itself vulnerable to criticism that its decisions are unwise, arbitrary or unfair,” he writes.

He forgot treasonous

[Texas resident]

Keeping records was never the intent. It is about extortion. “Hey bank president, nice bank you got there. Hate to see something bad happen to it.” Besides if they kept good records, there would be a paper trail in case responsible people get back in charge and decide to investigate this. Cloud the landscape and no one can be held responsible, but they got the result they wanted.