Fox Business Sues The Fed For Info on Bailout Funds

By Caomhin

Here’s hoping that Fox Business is successful in its lawsuit against the Federal Government in which they are seeking Fed to release details on where the bailout funds have gone and how they are being used.  In other words, they are seeking some accountability from the government.  We, the people, have been seeking such accountability for quite some time with little results, but I commend the effort being made by the network.

I have repeatedly gone on record in opposition to the bailouts, as we cannot and will not spend our way out of a recession and the massive compilation of debt will greatly diminish the long term prosperity of our nation.  The bailouts have simply been used as mechanisms for politicians to fund pet projects, repay special interest groups, and to pass massive pork-laden bills.  The vast majority of those in the halls of the Congress know little to nothing about the economy.  Most shockingly, however, though probably most telling as well, is the lack of transparency in the process.

We, the American taxpayers, are the ones whose money is going into these projects.  Bailouts cannot promise to fix our economy (and indeed only we, the consumers within the free market structure can fix the economy)  but rather, the only promise we can be secure in is a future tax increase to be passed on to us as a result of Congress’ action.  We have every right to know where our money is going; indeed we must demand to know this information.  A single lawsuit by Fox Business may not achieve this goal but hopefully this can serve as a rallying point for the citizens of this nation to demand answer from the government as to what, exactly, they are doing with vast sums of our money.


2 Responses to “Fox Business Sues The Fed For Info on Bailout Funds”

  1. 1 smellytourist January 14, 2009 at 1:34 am

    You’re right. Prior to this post, I didn’t know FN was seeking that information.

  2. 2 msr January 14, 2009 at 1:48 am

    I’m not a republican, but I STRONGLY support this action. I’m disgusted with the lack of accountability and want some answers. And I too am very disappointed with the bailouts. I can’t believe they passed! Our country can’t continue to print money.

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