The Obama administration will be appointing a whistle blower to oversee the deployment of the Stimulus money. Wow!
President Barack Obama plans to announce Monday a former Secret Service agent who helped expose lobbyists' corruption at the Interior Department as his pick to oversee the $787 billion economic stimulus plan.
Obama is set to name Earl Devaney as chairman of the new Recovery Act Transparency and Accountability Board, an administration official said Sunday. Vice President Joe Biden also will be given a role coordinating oversight of stimulus spending.
Now my question, as notorious outsourcers like IBM and G.E. lobby and even run TV ads to get a piece of the pie in large contracts....will they award them to smaller corporations who hire U.S. citizens, do not labor arbitrage or incorporate offshore to avoid taxes?
Shocking, true. Here Comes The Light. Although the details are not known, how much transparency and regulation will exist, the actual Fed meeting is tomorrow. CNBC is reporting that the Fed is setting up a credit default swap auction.
Officials at the Federal Reserve plan to meet with top executives from two commodities exchanges in an effort to create a new marketplace for credit default swaps, one of the most important, controversial and opaque securities traded on the Wall Street, CNBC has learned.
The meeting, scheduled to be held as early as Tuesday of this week at the headquarters of the New York Fed, is expected to clear the way for the creation of a new clearing house, or exchange, where CDSs can be traded with more transparency and with a degree of government oversight.
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