Bloomberg News Sues Fed to Disclose Collateral From Taxpayer Loans to Banks

President Bush had over 90% of the American people supporting him for the Iraq war. He was the most popular president at the time. He had much more support than Obama now, or any other president in US history.

Foggy:
re: "Neither party has cornered the market on corruption."

I'm in agreement with you here, investigate whomever if there's a reason, anybody's done wrong, I believe there's still
space in some 'houses of corrections', and nothing hurts some the 'well off' than some really stiff fines....

Nothing really changes in the government until folks are fully accountable for their actions.

flash,

don't forget to add FEMA to that list.

"And, Brownie, you are doing a good job"
(as the bodies kept floating by)

Thanks Bloomberg. Keep at 'em until we get what we deserve to know...all the dirty little details. Bush can't get out of office fast enough.

This makes me wonder whether Paulson has our best interests at heart, or whether he is working on behalf of Wall Street and the banks?

Add Treasury to the list of crime scenes. Wrap yellow tape around the building, just like FBI, DIA, DOJ, NSA and CIA buildings. Preserve all the evidence. Get every scrap of paper. Then throw the book at these criminals.

Roaming,

dont forget the republicans voted against the bailout because Pelosi hurt their feelings, not because it stunk.

Jake: This is less likely to be secrecy than incompetence. (And I don't mean that in any loaded or political way.) Few parts of the government respond to FOIA requests promptly or accurately.

As much as I generally dislike the Repubs, let's remember that they were the ones in the House who voted in large numbers against the bailout. It smelled bad then and it smells bad now, and they were trying to stop it.

This is nothing less than wholesale looting of the US treasury. Paulson is taking non-voting shares for collateral, leaving us in the position of not being able to afford for these companies to sink lest we lose all our investment. On the other hand, we have no means of curtailing their greedy behavior that led to these problems to begin with.

Ding dong the witch is dead. And the Rs got exactly what they deserved. However, you see-no-blue-evil folks are in danger of becoming part of the problem.

Now I know that some of you want nothing more than to drag the dead carcass of the Republican party through the streets. I am certain I can't appeal to you. But to the rest I hope that you turn some of your skepticism toward the Ds and hold them accountable too.

The housing bubble/mortgage crisis/financial meltdown was a failure of government and both parties should be held accountable.

Neither party has cornered the market on corruption. Let's hold Dodd and Rangel and Frank and Reid to the same standards as Cheney and Abramoff and Craig and Delay. Follow the money folks. That's where the cockroaches are. Hold both sides accountable. When we don't we get the kind of government we deserve.

Godspeed President-Elect Obama. And God bless America.

They keep telling us bad loans got us into this mess, and the banks get Super-Loans from the struggling taxpayer, and they say, "Just trust us"???? I'm glad someone is trying to look out for us by forcing accountability.

InWant, I would like to read that article, too. Where was it?

Republicans have ruled since 2000 with and iron fist and answered to no one.... why should hey start now....... who really knows how deep the damage is to our country runs because of them..

Speaking as a taxpayer, I want a statement at least quarterly, as I get for my other investments. And at this level of risk, I expect substantial returns.

Skeeerew the loans. In exchange for my money, I want a piece of paper showing that I OWN (a miniscule fraction of) Wall Street's as..... err, assets. I want my proxy, I want the right to attend shareholder meetings, as a shareholder of record.

I'm a taxpayer. I'm making an investment. I demand accountability, and I expect a fair return. Don't like it? Hit the road, Jack.

After 8 complete years of TOTAL SECRECY in any and every endeavor, especially with Cheney, I agree with Bloomberg. This should have been MANDATED before the first penny was allocated to even one institution. Taxpayers have the RIGHT to know where our tax dollars go and to whom they go, and if they refuse to release that information, then they should NOT BE ALLOWED TO DISPERSE THOSE FUNDS. As a matter of fact, I would request any funds already released be returned until they decide they will, in fact, release that information. This makes me LIVID!

After reading this morning about Treasury changing a section of our tax code [under cover of the bailout] that has caused a shock because it is controversial. That was bad enough.

Can anyone here shed more light on this article?

The secrecy is a continuation from the originally proposed bail out. Initially, no oversight was allowed for how the money would be distributed. The Democrats made some improvements to the initial bail out conditions, but secrecy prevails along with the golden parachutes.

AKA Hateful Left Winger

Jake, you didn't know that with such an open-ended mandate that the fFed makes and lives by its own rules?

It has only been in recent years that they even bothered to explain much about what they do and why.

This is absolutely necessary! There is something mighty strange going on here. There is nothing like good deposition to get to the bottom of this.

Good for Matthew Winkler, perhaps the lid is finally coming off this corrupt administration.

I think what gives? what's the secrecy?

It is the bush "Paulie& Bennie you're doing a good job" of the feds.

it is not always the deed as much as it is the cover up.

they neglected, abused, messed up somethng,
and now they are going to try and cover it up.

we will probally see this play out with every aspect of the turn over.