You know things are getting bad when even Federal Reserve officials are questioning whether we’re being ripped off. In an article today, ABC includes the following quote:
Gerald O’Driscoll, a former vice president at the Federal Reserve Bank of Dallas and a senior fellow at the Cato Institute, a libertarian think tank, said he worried that the failure of the government to provide more information about its rescue spending could signal corruption.
“Nontransparency in government programs is always associated with corruption in other countries, so I don’t see why it wouldn’t be here,” he said.
I couldn’t have put it better myself.