Thanks to Cartago Delenda Est for this one. I have been wondering the same thing: Where do these quasi-governmental agencies like the Fed get the authority to spend tens of billions of dollars of taxpayer money on bailouts? Where I come from (the U. S. of A.) the House of Representatives has the power of the purse.
Where is Congress?
Here's my theory: there may be some Constitutional ground for QUANGOs (QUAsi-Non Governmental Organizations) to determine spending--but I'd sure like to know what it is. But, regardless, the reason Congress isn't involved is because they don't want to touch this with a ten foot pole.
This is a result of the invertebrate nature of politicians in general, who want someone else to take the responsibility when it really belongs to them.
In other words, nothing new here.
Monday, September 22, 2008
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Sorry that this is off topic, Martin, but silently reading 'QUANGO' and pronouncing it mentally gave me a good laugh. I don't like 'em either.
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