The White House today announced that they were proposing legislation to privatize the Treasury Department. Spokesperson Jay Carney said that the sale would result in an annual savings of up to one billion dollars. Said Carney “I think most of you know we are not a big fan of privatization here at the White House. But when you look at the large number of investment bank personnel that work at the Treasury Department and realize that they are performing the same functions and advocating the same policies that they did at their former employers, it just makes sense for them to stay at the big banks, do what they’re already doing, and save the tax payers’ money.” Carney said the contract would be awarded through competitive bidding, but that the decision had already been made that the winner would be Goldman Sachs.
©Obamabeans 03/25/2013