Treasury Department Covering Up Bailout Payments
So much for that transparency we were promised.
Just two weeks after the passage of the bailout bill, and one day after a Treasury Department official declared, “we are committed to transparency and oversight in all aspects of the program,” the Treasury Department began covering up the amount it would pay to New York Mellon Bank to act as a financial agent in the bailout.
The amount to be paid the bank in the contract posted to the Web is blacked out.
Here’s an image of the redaction:
These sort of contracts in the private sector are, obviously, not public record. But when banks come crying to the taxpayers with their hands out and get a $700,000,000,000 bailout their right to privacy ends.
