A year after Cares Act, watchdogs struggle to oversee trillions in coronavirus spending

Thank you my friend Lt Col Charlie Brown for posting the unsurprising news that a year after the Cares Act, watchdogs struggle to oversee trillions in coronavirus spending

Trillions in COVID-19 Bailouts: Where Did it Go? [Jesse Eisinger]
In March the US government authorized the largest domestic bailout in history. Who were the real winners and losers of this bailout? Pulitzer Prize winning reporter Jesse Eisinger has been following the money.
Both the Fed and the federal government acted quickly to shore up the economy in the wake of the pandemic. But as unemployment and the stock market both soar, we ask what the short and long term effects of this spending has been. In a discussion with Rob Johnson, President of INET, Eisinger expresses his findings on the true winners of the government’s pandemic response.
Jesse Eisinger is a senior reporter and editor for ProPublica. He won the Pulitzer Prize for National Reporting in 2011 for his work on Wall Street’s morally questionable practices. He has also written for the Wall Street Journal and the Dow Jones newswire. His first book, The Chickenshit Club: Why the Justice Department Fails to Prosecute Executives, was published by Simon & Schuster in 2017."
https://www.youtube.com/watch?v=hRaRfzZ2FQk


Pasted from the article referenced
"When the $2.1 trillion Cares Act was enacted just over a year ago, Democrats in Congress, mistrustful of the Trump administration's ethical track record, made robust policing a top priority for the gusher of new spending.
The law, intended to stem the economic pain caused by the coronavirus pandemic, created new oversight bodies and directed more than $270 million to new and existing watchdogs. A House subcommittee with the power to issue subpoenas quickly got to work with queries to private corporations and government agencies.
One year later, the conversation in Washington over how to oversee a new, nearly $2 trillion relief package administered by the Biden administration is decidedly more muted. The latest legislation, called the American Rescue Plan, created no new oversight bodies, although it appropriated more than $200 million in new funding for existing ones.
To date, more than $5 trillion in government spending has been appropriated to respond to the pandemic and ensuing economic calamity. Yet, over the past year, oversight from three separate watchdog entities has been either undermined by partisan disagreements, slowed by bureaucratic hurdles or constrained by funding, according to interviews with those tasked with carrying out oversight, outside experts and advocates.
Democrats say they spent much of the last year battling the obstructionism of the Trump administration and a GOP-controlled Senate with little interest in holding Trump accountable. Republicans say now that a Democratic president is in the White House, Democrats in Congress appear to have less desire to conduct rigorous oversight of the executive branch.'


Maj Bill Smith, Ph.D. LTC (Join to see) COL Mikel J. Burroughs SMSgt Lawrence McCarter SMSgt David A Asbury SSG Franklin BriantSPC Michael Duricko, Ph.D TSgt David L. SGT James Murphy 1SG Steven ImermanSPC Michael Terrell A1C Riley Sanders SSgt Marian MitchellSPC Michael Oles SRSGT Michael Hearn Sgt (Join to see) SGT (Join to see)

I think the watchdogs have blinders, muzzles, and no teeth.

"We're are here to help"....someone a few admins ago made this joke. We are now living out this SNL skit.