The Treasury Department Plans to Outsource Management of $700 Billion

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Well, the US Government has decided to bail out troubled banks with 700 Billion US tax dollars.
700,000,000,000 is such a big number you just have to write it out and try and figure out how much that really is.
The WORLD has a population of 6.
7 billion, so that is equal to the population of 110 planets.
Hmm, most people can't imagine 2 planets with intelligent life, so 110 planets is a bad example.
The US has a population of 350 million (ok, I know it doesn't really but the math is easier than 305 million).
If every American gives $20 that is 7 billion.
$200 is 70 Billion, $2000 is 700 Billion.
Each person owes the bank $2000, and I thought the services charges we were already applying were harsh.
Now the Treasury Department has announced plans to outsource the management of this $700 billion using special contracting authorities.
Again with a "Hmm".
These will probably the same guys that ran Enron, right? These "special contracting authorities" may end up being like the private security teams that worked in Iraq.
  • Not subject to American law, because they were in Iraq.
  • Not subject to the laws in Iraq (or they just hid so well that they never got caught).
  • Not subject to the Uniform Code of Military Justice (the UCMJ is the Congressional Code of Military Criminal Law applicable to all military members worldwide) because they are no longer in the military.
So the Treasury Department is going to hire its own mercenaries (oops, "private portfolio managers") other financial services consultants without following standard procedures.
I'm not sure why but this really sounds like a dirty business that is going to make some people very rich on the taxpayer dollar.
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