Accountability is a big problem with Chimp DC and the proposed Great Swindle. But, there hasn't been much talk of the details by which the Treasury is to be held accountable for this heist.
Dodds proposed legislation calls for monthly and weekly reporting from the Treasury Secretary to the Congress. I ask, does this actually put any restraint on King Henry?
Incidentally, if he accumulates any assets, what restrictions does he have on their use? Might he game the market? Might he game foreign markets? Might he get a face lift and hole up in "Paraguay"?
11 (b) REPORTS BY THE SECRETARY.—
12 (1) MONTHLY REPORTS TO CONGRESS.—Not
13 later than one month after the date of the first exer
14 cise of the authority granted in section 2(a)(2), and
15 monthly thereafter, the Secretary shall provide to
16 the Committee on Banking, Housing, and Urban Af
17 fairs, the Committee on the Budget, and the Com
18 mittee on Finance of the Senate and the Committee
19 on Financial Services, the Committee on the Budget,
20 and the Committee on Ways and Means of the
21 House of Representatives a written explanation of
22 the overall actions taken by the Secretary during the
23 reporting period and a detailed financial statement
24 with respect to the exercise of authority under this
25 Act, including—
1 (A) all agreements made or renewed;
2 (B) all transactions occurring during the
3 month, including the parties involved;
4 (C) the nature of the assets purchased;
5 (D) all projected costs and liabilities;
6 (E) operating expenses, including com
7 pensation for financial agents;
8 (F) the valuation method used for each
9 transaction; and
10 (G) a description of the vehicles estab
11 lished to exercise such authority.
12 (2) WEEKLY PUBLIC REPORTS.—On a weekly
13 basis, every Friday, the Secretary shall make public
14 the total value of assets held and the total amount
15 of assets purchased and sold during that week under
16 the authority of this Act.