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It’s our money and we have a right to know how it’s being

November 23, 2008

Treasury Department officials continue to refuse to disclose details of their emergency loan program for big financial institutions.

That is wrong, plainly and simply.

It has been reported that the department is handing out about $2 trillion in emergency loans.

But to date, officials have refused to say what banks and other institutions are receiving the help - or what guarantees taxpayers have that the money will be repaid.

The excuse being given by officials is that if word gets out that some institutions are seeking big loans, investor confidence in them would decline.

We suspect that word "on the street" will eliminate that excuse.

When loans of tens of billions of dollars are being made, the information eventually will leak out among financial professionals.

That would leave taxpayers as the last to know how our money is being spent. That is inexcusable - yet, to our knowledge, no one in Congress has complained about it.

And that, too, is inexcusable and unpardonable.



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