Just in case you all thought I was just a Partisan Hack
Transparency. We’ve been hearing about the need for transparency in the financial system for months. Between Barney Frank’s bloviatiations (fucking ironic since he’s the chairman of the House Financial Services committee, but I digress), and pundits across the spectrum; from CNBC to FOX.
Even Paulson has come out more than once on the topic.
But they’re not going to do it:
Fed Defies Transparency Aim in Refusal to Disclose
Fed Chairman Ben S. Bernanke and Treasury Secretary Henry Paulson said in September they would comply with congressional demands for transparency in a $700 billion bailout of the banking system. Two months later, as the Fed lends far more than that in separate rescue programs that didn’t require approval by Congress, Americans have no idea where their money is going or what securities the banks are pledging in return.
Here. We’re going to spend 2 TRILLION dollars of your money. But we’re not going to tell you what we’re going to do with it.
Trust us.
We’re from the government.
We’re here to help you.
It’s insane. inSANE.