Government Finance Run Amuck

The Federal Reserve continues to stonewall in the face of calls to reveal which entities received nearly $2 trillion in emergency loans.  If the private sector wants government money, transparency should follow.

On the Treasury side, Secretary Paulson further damaged his reputation - and sent the Dow down another 400 points yesterday - when he suddenly changed course, announcing Treasury would be using the remainder of the $700 billion + bailout...for things other than buying up toxic debt as initially intended - and authorized.