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Government Accountability Office posts

GAO says H1N1 flu could lead to Internet traffic jams

Posted Oct 28th 2009 5:00PM by Joseph Lazzaro (RSS feed)
Filed under: Forecasts, Internet

One known consequence of the spread of the H1N1 flu? Possible, short-term school closures, as well as keeping under-the-weather kids out of school, to help contain the virus.

One little-known consequence? Traffic jams on the Internet, caused by all those school kids and adults out sick from work, logging on to the Web from home -- something that could overwhelm Internet networks, a Government Accountability Office study warns, and The Washington Post reported. To read the full GAO report, click here.

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GAO says Fed, Treasury have authority to rescue Big 3

Posted Dec 4th 2008 2:17PM by Joseph Lazzaro (RSS feed)
Filed under: Industry, Ford Motor (F), General Motors (GM), Politics, Recession

The Government Accountability Office, Congress' investigative arm and watchdog, said the U.S. Federal Reserve and the U.S. Treasury have the authority to bail-out the Big Three automakers, marketwatch.com reported Thursday.

Gene Dodaro, acting head of the GAO, said the Fed and Treasury could provide loans to the struggling U.S. automakers under an emergency loan designation.

The above ruling conflicts with the view of U.S. Treasury Secretary Henry Paulson, who has said that the $700 billion in TARP funds administered by the Treasury Department can only be used for financial companies.

However, Dodaro said the TARP legislation "is worded broadly enough" to allow Treasury to lend money to General Motors, Ford, and Chrysler, marketwatch.com reported.

Shares of GM (NYSE: GM) fell 33 cents to $4.57 while Ford (NYSE: F) fell 4 cents to $2.81 on Thursday at mid-day.

Continue reading GAO says Fed, Treasury have authority to rescue Big 3