Tags: bailout | treasury | secrecy

Bailout Billions Going to Secret List

By Greg Brown   |   Monday, 10 Nov 2008 09:45 AM

Transparency seems to be a foreign word around Treasury.

Even after telling Congress in September that the agency would make clear how it spends trillions in emergency loans and bailout cash, so far no names are forthcoming.

Newswire Bloomberg has sued, demanding that Treasury chief Henry Paulson, a former Goldman Sachs CEO, come clean on who is getting $2 trillion in emergency loans, and which troubled assets – bad home loans and the securities that back them – it was buying with the $700 billion bailout.

No comment from the Federal Reserve, the actual target of the lawsuit.

"The American taxpayer is entitled to know the risks, costs and methodology associated with the unprecedented government bailout of the U.S. financial industry,'' said Matthew Winkler, the editor-in-chief of Bloomberg News.

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Transparency seems to be a foreign word around Treasury.Even after telling Congress in September that the agency would make clear how it spends trillions in emergency loans and bailout cash, so far no names are forthcoming. Newswire Bloomberg has sued, demanding that...
bailout,treasury,secrecy
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