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Levin: "My Instinct Would Be To Release" TARP Contracts
After Carl Levin (D-MI), chairman of the Senate subcommittee on investigations, announced yesterday that he is getting copies of the contracts for companies receiving bailout money under the TARP program, we were thrilled to finally see what terms the government insisted on for taxpayer funds. But this morning in the New York Times, a Levin aide was quoted as saying that his office would not publicly release the contracts. And a Levin spokeswoman told TPMmuckraker the same thing in an email.
What gives, we asked.
And it turns out Levin is asking the same question. When we asked why his office would keep the bailout contracts under wraps, he replied simply: "My instinct would be to release them." He pointed out that legal restrictions might limit the dissemination of the info but said he would consult with his counsel on the matter.
We're still waiting to hear the reason why the contracts can't be made public, if indeed they can't. We'll keep you posted.
Josh
Zachary
If they cannot reveal who is getting the money and why, they should not release the money. Period.
January 13, 2009 1:46 PM | Reply | Permalink
"Every great magic trick consists of three parts or acts. The first part is called "The Pledge". The magician shows you something ordinary: a deck of cards, a bird or a man. He shows you this object. Perhaps he asks you to inspect it to see if it is indeed real, unaltered, normal. But of course... it probably isn't. The second act is called "The Turn". The magician takes the ordinary something and makes it do something extraordinary. Now you're looking for the secret... but you won't find it, because of course you're not really looking. You don't really want to know. You want to be fooled. But you wouldn't clap yet. Because making something disappear isn't enough; you have to bring it back. That's why every magic trick has a third act, the hardest part, the part we call "The Prestige".
January 13, 2009 2:05 PM | Reply | Permalink
Well, I suggest Karl Levin grow a spine, and take a page out of the Rove playbook.
Release the info, and ignore all subpoenas and punitive measures. just ignore them, they won't do anything to you, dude.
January 13, 2009 2:21 PM | Reply | Permalink
The Democrats take over Congress and what do we get? Levin going along with this crap.
Everything changes but nothing ever changes.
January 13, 2009 2:38 PM | Reply | Permalink
I know there are only 7 days until the next administration starts cleaning up the elephant droppings that will take some time and energy. Hopefully the nightmare of the present administration will dim in memory but not be forgotten. But this secretive behavior over where OUR money is going just doesn't fly and has to stop. When you have to hide things from the people other than National Security, you are doing something that won't pass the smell test. The same people who ushered in the financial crisis with no regard to it happening are those who are to be straightening it out. What kind of bogus BS is that. EVERYTHING associated with this bailout should be announced in the media before it takes place. If for no other reason that these greedy bastards don't take advantage of it.
January 13, 2009 3:23 PM | Reply | Permalink
I agree. I think Obama is making every effort to have things out in the open. It will be interesting to watch how the crooks change their colors to sneak into this arena as well.
January 13, 2009 6:14 PM | Reply | Permalink