Accountability Example Not To Follow
Thursday, April 23rd, 2009
Pic by bcanada92
The US government owns 80% of AIG. However, the power to vote rest with three individuals being paid $100,000 a year whom are not accountable to anyone but themselves. The New York Fed recruited them but wanted non-controlling control over AIG. The US government is about to take a 36% ownership position in Citigroup.
Federal and State governments have required increased accountability of nonprofits boards but has failed to follow its own rules for over sight with billions of taxpayer funds.
Nonprofits Boards are not allowed to delegate their responsibilities. The US government must not delegate its ownership responsibilities.
It is time to appoint Warren Buffet to represent the interests of the US tax payers to maximize their value as owners of any financial institution. Only then, can the nonprofit community and individual investors TRUST to put their money back into the stock market.
