An Open Letter to Senator Menendez
60Dear Senator Menendez,
I am writing you about the economic bailout "plan" in which 700 billion dollars (700,000,000,000) were appropriated for Troubles assets.
At the time this Bill was on the table I had also written to you about the lack of transparency in this plan.
To date this is still the case.
I work on various projects of different amounts at my job none of which have come close to the capital expenditure required by TARP.
No project is completed without a gated review process (Capital Value Process).
This ensures that certain documentation and processes are being followed and that the project is still delivering on its initial objectives.
The other required element of any project is a project plan which lays out the how, who, and when.
The project planners axiom is "Failing to Plan is Planning to Fail."
Given the manner in which money is being distributed under TARP I have the feeling that no such plan exists .
If it does it should be made available in a transparent way to all Americans.
This is not national security and there is no reason for the lack of transparency.
We have a Right to Know.
Sincerely,
Michael Ala
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