EDITOR OF REDSTATE
Roger Hedgecock has the top story at Human Events today.
Though private fraud gets the bigger headline (think Bernie Madoff), fraud in federal government programs is now so pervasive that even the Obama press is taking notice. The scope of fraud in all federal programs dwarfs the corruption in the private sector the media loves to sensationalize.
Consider the fraud in the Wall Street bailout. Here’s just one example.
This past week, the Inspector General for the TARP $700 billion bailout reported that taxpayers will “almost certainly” lose money on their investments in the “too big to fail” financial institutions. One reason, it’s safe to say, is contained in Neil Barofsky’s revelation that he is conducting 65 separate investigations of possible fraud involving TARP funds.