Good TARP Transparency Amendment

[Donnachaidh]

http://blog.sunlightfoundation.com/2009/01/15/good-tarp-transparency-amendment/

Rep. Tim Walz introduced an amendment to the second round of TARP - the economic recovery funds aka the bailout - that would require the Treasury Department to post online reports on how funds are being spent. Here’s part of a letter of support Walz is circulating around Capitol Hill:

H.R. 384 requires that institutions that received assistance under the TARP or that receive assistance in the future file at-least quarterly public reports on their use of the funds.

My amendment would require the Treasury Department to make those reports publicly available online, so that the public may have easy access to them.

Americans have the right to know how their money has been spent and what financial institutions have done with their bailout funds. Yet the operations of the TARP have been insufficiently transparent and accountable. While the public has spent an enormous amount of money providing assistance to financial institutions, we know far too little about what these institutions did with the money.

More at the link above -- including a pdf of the amendment, which may be voted on TODAY.

[Romulox]

1. I'd prefer to not disburse anymore taxpayer funds to private equity. Thanks. nt

[DCKit]

2. We're not going to get that, so this is the next best thing.

However, I too would either like to get something for the money or not have it given/loaned at all.

Considering that BushCo* wanted to hand over the entire Social Security pot to Wall St., we're getting off easy.