The "Choosen Few" Get a Conference Call with Paulson on the Bail Out

Naked Capitalism has quite the story on how Treasury Secretary Hank Paulson Gave a Conference Call to a select few Interested Parties, but a mistake was made and the public got in on the call. Oh what they are reporting!:

This is simply scandalous. To have a group of interested parties get a privileged briefing by government officials on a matter of keen public interest flies in the face of what a democracy is supposed to be about. The proper method would either be a published FAQ on the Treasury website or a briefing with the media included. But why should I be surprised? Favoritism has been a staple of the Bush Administration.

The call confirms what many who can read legislation are saying:

  1. There is no oversight
  2. They get the $700B all at once
  3. There are not limits on Executive Pay