Thursday, December 04, 2008

Take our money; just don't tell us what you're doing with it.

Corporate transparency? Forget about it!

UPDATE: No way to prove that "Main Street" will ever see the Wall Street bail out:
Treasury has no way to measure whether taxpayer funds invested in banks are being used in accordance with the purpose of the law – to increase lending. The much worse news is Treasury's response that it does not even have the intention of doing so… By rejecting the GAO’s recommendation that measurement is needed and substituting a vague promise to ‘evaluate the overall success of the program,’ Treasury is coming very close to telling the institutions that they will be free to use the funds as they wish.

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