The Impossible-To-Track Bank Bailout

[struggle4progress]

CBS Evening News: Information Blacked Out On How Much In Tax Dollars Key Players Are Getting Paid
WASHINGTON, Jan. 28, 2009 | by Sharyl Attkisso

... The contracts were awarded to handpicked auditors and law firms without competitive bidding. The bill is $37 million tax dollars - and growing by the minute.

Yet in one contract after another, vital information is blacked out, such as how much people are getting paid and who the key players are. There's even the Bank of New York Mellon which got $3 billion in bailout money - and got hired to manage the bailout, too. How much are they being paid? Blacked out.

Treasury calls the missing information "proprietary," a business secret. But the watchdog appointed by Congress says it ought to be public.

"If I had my way, there would not be contracts with blacked-out portions," said Elizabeth Warren of the Congressional Oversight Panel. "If you're going to take taxpayer money, then the deal has to be that you're open and above board with the American people" ...

http://www.cbsnews.com/stories/2009/01/28/eveningnews/main4761089.shtml?source=RSSattr=Politics_4761089

[Rosa Luxemburg]

1. who decided they would be blacked out?

who is the Treasury?

[elleng]

2. A bit more about her;

http://www.huffingtonpost.com/2008/12/16/elizabeth-warren-tarp-ove_n_151418.html

[aquart]

3. "Business secret," my Aunt Fannie. HOW DARE THEY?

[D-Lee]

4. Guess someone didn't hear about the Freedom of Information Law

or maybe got inspired by those signing statements into thinking anything goes in government. The "old" TARP administration policies were unbelievable and seemed directly contrary to the statutory reporting provisions.

Thank goodness for this breath of fresh air!

[Two Americas]

5. oh, I can track it

It all goes from our pockets right into their pockets, and that is the last we ever see of it.