Wrecking Our Economy, Treasury Edition

One thing about the TARP bailout being run by the Treasury Department is really bothersome: The Treasury Department is handing out hundreds of billions of dollars with no conditions whatsoever.

For instance, the Treasury Department gave $25 billion to Citibank, part of over $125 billion that was supposed to free up the credit markets. But the banks did nothing with the cash other than sock it away. That's because Secretary Paulson and his minions (all of which undoubtedly have ties to the banking industry) gave them the money without strings.

But when Detroit came up and asked for $25 billion, my oh my, "we need to see a plan," "what are you going to do with the money," "how can we be sure you're not going to continue business as usual" and so on and so forth.

Hundreds of billions of dollars, going into a rathole.