Department of Labor gives ripped off employees the brush off, doesn't enforce basic employment law

Do you think we have labor laws and divisions to protect you from outright theft of your wages? Think again.

The GAO investigated the Department of Labor, Wage and Hour division, now under the Obama administration and found the DOL is simply blowing off workers with legitimate complaints on getting ripped off on unpaid wages.

The GAO report, Wage and Hour Division Needs Improved Investigative Processes and Ability to Suspend Statute of Limitations to Better Protect Workers Against Wage Theft, details this investigation.

GAO June TARP report

The GAO released their TARP Report: June 2009 Status of Efforts to Address Transparency and Accountability Issues.

Some main points:

  • $330B "dispersed"
  • $69.2B repaid by end of month
  • still buying preferred shares
  • no disclosure from Treasury/Fed on criteria to purchase shares
  • no disclosure from Treasury on warrant repurchase
  • no disclosure on recapitalization on stress test results
  • "difficulties" in measuring TARP effectiveness
  • no set of determinate indicators to measure TARP impact

Most interesting is the criteria for those stress tests to determine additional needed capitalization. The unemployment rate, which many of us have shown, is much worst than forecast by the economists' consensus.

Bill To Audit Federal Reserve Gets House Majority

Want to know what the hell the Federal Reserve is doing? Now, so do the majority of House Congressional Representatives.

H. R. 1207, Short title: The Federal Reserve Transparency Act, just obtained 221 co-sponsors in support of a GAO audit of the Federal Reserve. This is a House majority.

The blog Firedoglake has support of this bill as an action item.

The long title of the bill is:

To amend title 31, United States Code, to reform the manner in which the Board of Governors of the Federal Reserve System is audited by the Comptroller General of the United States and the manner in which such audits are reported, and for other purposes

GAO to audit Federal Reserve's Role in AIG Bail Out - Thanks Congress!

You might remember this post:

Senator Chuck Grassley (R-IA) submitted an amendment (amending Section 714 of the United States Code) that would have given significant auditing authority to Comptroller General/Government Accountability Office (GAO) over the Board of Governors of the Federal Reserve System.

Which managed to slip past the lobbyists and God knows who else in the Helping Families Save Their Homes Act of 2009, which was just signed into law.

Now Bloomberg reports Fed’s Role in AIG May Be First Target of GAO Audit:

God Bless the GAO

I don't know if any of ya all have been tracking this, but Boeing lost a major contract while Airbus, i.e. offshore outsourcing won the airforce tanker.

The GAO just agreed with Boeing and sustained their protest, which is good because it keeps taxpayer dollars in the US more for US jobs.

story here.