Treasury puts out guidelines for bailout managers

[Newsjock]

Source: CNN

... The Treasury on Monday also released its guidelines for how it would hire firms to manage asset purchases.

It cited the need to begin the program urgently. Asset managers and other private-sector agents involved in running it may be hired "through other than full and open competition," the Treasury said in a statement.

The department will post help wanted notices on its Web site and applicants will be reviewed in a two-stage process after they've expressed interest.

"Given the urgent need to implement the Troubled Assets Relief Program quickly, the selection process for asset managers may involve extremely short deadlines for submitting information" and attending interviews, Treasury noted.

... Still unclear from the guidelines, however, is how - and how much - the asset managers will be paid.

Read more: http://biz.yahoo.com/cnnm/081006/100608_treasury_hiring_guidelines.html

[Demeter]

1. Window Dressing

There are no "assets" to manage. Just burn the paper and call it a day.

[whistle]

3. Exactly, freeze that $700 billion now!

[whistle]

2. It's too late for that, Congress should freeze the bailout fund and take

...the U.S. Treasury before Paulson blows the entire system and takes the country down like the WTC implosion of 9/11

[StopTheNeoCons]

4. THE ROBBERY BEGINS