Bailout

Who is Getting Our $2 Trillion?

Neel Kashkari, the man Paulson has appointed to buy up bad debt in the banks, is getting a rough ride from the financial world. His speech to a conference of bankers in Midtown Manhattan fell flat and he failed to explain exactly who he is giving loans to from the $2 trillion of taxpayers’ money he presides over. So Bloomberg News is suing under the Freedom of Information Act. Two months after Paulson and Ben Bernanke, the Fed chairman, promised transparency over who is benefiting from the massive bailout, “Americans have no idea where their money is going or what securities the banks are pledging in return,” reports Bloomberg, which is determined to find out through the courts.