78-Group Coalition Demands Greater Bailout Transparency

The Commonwealth Foundation has joined 77 other organizations in calling for greater transparency for taxpayers in the numerous bailouts being handed out with little oversight.  From the news release:

The letter notes that nearly half of the $700 billion committed to the Troubled Assets Relief Program has already been distributed with very little transparency and almost no oversight — in addition to another $800 billion being spent by the Federal Reserve. The letter recommends requiring that the Department of the Treasury, the Federal Reserve, and other government entities involved in the bailout collect and make available to the public information on certain aspects of how bailout aid is being spent by recipients.