Remember when Obama assured us that all the “stimulus” money would be spent wisely?

Andrew Coulson, writing at Cato’s blog, brings up the inconvenient case of Dr. Robert Felner, recently fired from his deanship at the University of Louisville ed school and now under federal investigation. (He includes a link to the longer story on this in the Chronicle of Higher Education.)

Through Bernie Madoff-like chicanery, Felner managed to pocket much of a $694,000 earmarked federal grant over a span of three years. Coulson says, “Given that officials couldn’t stay on top of millions of dollars in taxpayer’s money under normal circumstances, it’s unsettling to think what is going on right now as the system is suddenly flooded with billions of new dollars.”