Bailout Monitor: We don't know what we're doing

From The Herald Tribune:

The head of a new congressional panel set up to monitor the gigantic U.S. government bailout says the government still does not seem to have a coherent strategy for easing the financial crisis, despite the billions it has already spent in that effort.

Elizabeth Warren, the chairwoman of the oversight
panel, said in an interview Monday that the government instead seemed to be lurching from one tactic to the next without clarifying how each step fits into an overall plan.

"You can't just say, 'Credit isn't moving through the system,' " she said in her first public comments since being named to the panel. "You have to ask why."

Why indeed. Why does anyone with an ounce of sanity and common sense think that just throwing borrowed and stolen money wiily nilly at the largest and most complex economy in the world is going to have any predictable or desired effect?

And it's not as if we don't have dozens of examples of when this was tried and failed in the past and none where it succeeded.