Millions Paid To Bailout Fund Managers ... REDACTED

[mrJJ]

Redacted! Treasury Refuses To Disclose Millions Paid To Bailout Fund Managers

Jay Yarow | Oct 21, 2008 2:03 PM
The Treasury Department has posted the contracts it has with private companies advising on the bailout, perhaps in an effort to increase transparency during this dense and difficult period which is leaving many taxpayers feeling screwed. Too bad the Treasury Department decided to black out the compensation for these firms, so taxpayers have no idea what they're paying for.

Bailout Sleuth has the details on the blacked out sections:

The Treasury Department told other news organizations that the information on the bank's compensation will be released when other details of the program, such the hiring of subcontractors, are finalized.

Kevin Heine, a spokesman for Bank of New York Mellon, said the bank does not expect the information to be kept secret.

examples at link

http://www.businesssheet.com/2008/10/redacted-the-blacked-out-bailout

[lumberjack_jeff]

1. Uh... why?

Is there no element of governance which is transparent?

Oh, there is one. In many states you can find out what each employee makes, by name.

[mrJJ]

3. Individual or Company Compensation?

Firms or Individuals? makes a difference I think....

[Eric J in MN]

2. The Bailout Bill has a section to allow no-bid contracts. NT

NT