Saturday, January 24, 2009

Treasury's Redacted Contracts:TARP

Pro Publica reports:
Despite touting how transparent the bailout would be, the Treasury Department has kept plenty of the $700 billion taxpayer-funded plan opaque. Besides the obvious things about TARP most people might want to know (such as how banks are spending billions of our dollars ) one curious omission has been Treasury's refusal to reveal how much the government is paying Bank of New York Mellon to be the bailout's "prime contractor" (i.e. the bank that holds and tracks the assets).
Socialism means that lack of accountability.