Congressional overseers seek to determine whether the cabinet agencies under President Obama (specifically the Environmental Protection Agency), who promised “an unprecedented level of openness in government,” have hidden communications about official business with the use of private and alias email accounts.
When is a government watchdog not really a watchdog?
When he rolls over and lays at the feet of his master rather than sink his teeth into a program that he’s been tasked to guard.
Such appears to be the (unsurprising) case with Herbert Allison, Jr. (pictured), a former Wall Street executive (Merrill Lynch and TIAA-CREF) until he was appointed president and CEO of Fannie Mae in 2008, after it was put into conservatorship. Subsequently President Obama named (and the Senate confirmed) him as overseer of the Troubled Asset Relief Program (TARP), the $700 billion asset acquisition fund that bailed out Wall Street financial institutions. He served in that role for about 15 months, until September 2010.
How did a start-up electric car company that raised more than $1 billion suddenly fail to meet government-lending standards, to the point where it can no longer draw on an awarded Department of Energy loan and has therefore halted renovation work on a Delaware plant?
Two weeks ago Texas Gov. Rick Perry made what many formerly mainstream media pundits thought was his crowning debate gaffe in Michigan, when he could not remember the third of three cabinet departments (after Education and Commerce) he would eliminate if he were elected president.
The one he momentarily forgot, the Department of Energy, should have been the first one on his lips.