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Friday, January 30, 2009

Geithner posts Paulson's bailout details

"In one of his first public acts as Treasury Secretary, Tim Geithner established a policy aimed at increasing the transparency and accountability of the Troubled Asset Relief Program (TARP). Treasury will now post all TARP contracts on the Internet," writes Blank Rome Financial Reform Watch here.

Among the deals posted so far: "the agreements of the major nine institutions that first partook in the Capital Purchase Program; the Citigroup contract under the Targeted Investment Program; the AIG deal under the Systemically Significant Failing Institutions Program; and the GM, GMAC, and Chrysler contracts under the Automotive Industry Financing Program." But Geithner's staff is still suppressing "confidential and proprietary information."

This stuff is written in deep legalese, and in Adobe pdf documents that aren't too searchable. Look for "Terms" if you want data on how much, at what percent, for how long: 

U.S. Treasury's bailout page
Posted by Joseph N. DiStefano @ 11:29 AM  Permalink | 2 comments
Comments   
  • 0 like this / 0 don't   •   Posted 12:07 PM, 01/30/2009
    "This stuff is written in deep legalize" - huh?
    — fafafooey
  • 0 like this / 0 don't   •   Posted 2:22 PM, 01/30/2009
    Paulson was an antogonist to Jon Corzine before he left Goldman Sachs and may have been one of the reasons he left. What a pair. Look at what Corzine has done for NJ and the mess Paulson has left for the country. He started the whole bailout frenzy. Yikes.
    — hamnegger


2 comments
About Joseph N. DiStefano
Joseph N. DiStefano writes this blog to feed his PhillyDeals column in the Philadelphia Inquirer. Joe has been a member of Bloomberg LP’s New York Finance Team, wrote the book “Comcasted,” taught writing at St. Joseph’s University, and studied economics and history at Penn. Reach Joe at 215-854-5194 and JoeD@phillynews.com
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