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Apr 28, 2009

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KSBR focused

A nice, absolutist thought typical of POGO. Prob is that it is a very short list of firms that have the expertise. One can build firewalls and take other precautions. It can be done -- walling off potential COI. We can't tell whether mitigation is done, or done smartly and realistically, however, because Treasury does not release those parts of agreements with companies that serve as Financial Agents of the United States of America. For the bailout programs, Treasury is exempted from the FAR and does not need to follow any of its rules--but it does need to follow common sense and propriety. Tim Geithner is honorable and does, I think, pretty well for someone in a no-win position--would you like to see Bob Rubin or John McCain/S. Palin's secretary of the treasury? He does not have perfect pitch for the conflict of interest scanner and related vulnerabilities; that is strange, but he does not get it, fully. Your concern is one of ten that could have been raised. They can be dealt with, but everyone needs to try.

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