Streams

Underreported: Transparency at the Treasury

Thursday, October 28, 2010

Daniel Indiviglio, staff editor at TheAtlantic.com, discusses whether the U.S. Treasury Department has been as transparent as it can (or should) be.

Guests:

Daniel Indiviglio

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Comments [1]

Dean Baker at the Center for Economic Policy Research, Simon Johnson at MIT, and several others have reported at length on the lies -- overt lies and lies of omission -- by Treasury and the Obama administration.

The consensus among these reliable critics is (1) that Timothy Geithner, Larry Summers, Ben Bernanke and others in the Obama administration are as secretive or MORE so than those in the Bush admin, (2) that they are systematically misrepresenting things to the American people, (3) that the real size of the bailout was much much larger -- hundreds of billions larger -- than is publicly supposed.

When we take into account loan guarantees, sweetheart stock deals like the one the US did with Citigroup, etc., then the American people have been robbed blind in the LARGEST transfer of wealth from the poor and middle classes to the rich in ever -- anywhere.

Oct. 28 2010 01:18 PM

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