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Remember how Treasury Secretary Henry Paulson promised full transparency in spending the $700 billion bailout money? And remember how bailout opponents predicted that the failure to mandate such transparency would allow all sorts of Halliburton-style shenanigans? From the looks of the first private contracts issued by the Treasury Department, it looks like the bailout opponents were correct.
As flagged by BailoutSleuth.com, Paulson is blacking out the sections of government contracts that spell out how much private firms will be paid for their services in administering taxpayer money. Here's a page from the compensation part of a contract with Bank of New York, which has been hired to do some of the bookkeeping (because, of course, the Bush administration is happy to privatize that function):
No wonder he doesnt want any over sight. Can you believe they are having the person who led us down this road to fix it? This is more bizzare than the warmongers using fake documents and fixed facts to lead us to our FIRST war of aggression against a country which had not killed one American and were not openly threatening us. Do we have to wait for one of them to write a book later to tell us what they are doing to us today? Why wait for the book, we can see it in plain sight today.