Monday Bailout Roundup: “I plead the Fifth!” Edition

Posted by Andrew Moylan • December 8, 2008 • Printer-friendly

This week's roundup is called the "I plead the Fifth!" Edition because of the disturbing lack of transparency in the bailout, which receives a special focus.

Chappelle's Show fans will get the reference...

Regardless of one's position on the bailout before it passed, most can agree that the current lack of transparency and disclosure has been disturbing. That's why NTU organized this 78-group coalition letter with our friends at OpenTheGovernment.org demanding more transparency and accountability in the process. It's no longer acceptable for Treasury to "plead the Fifth."

On to the best bailout content from last week...

Michael Flynn at Reason with a great post-mortem on what went wrong.
Turns out over 60% of people oppose an auto bailout. People in the Midwest even oppose it!
ProPublica has a great "TARP map" giving you some geographical context.
Good news! The bailout lacks a coherent plan.
Blackhedd from RedState with some advice for Obama on how to calm the markets.
You too can apply for bailouts! Don't expect it to work, though.
Russell Roberts at Cafe Hayek asks, does Bernanke know what he's doing?
Roberts again, this time bringing us a terrific primer on housing and financial markets.
Ed Morrissey at HotAir comments on the Big 3's business plans (or lack thereof).
Morrissey again, this time pointing out how Freddie Mac utilized lobbyists to fend off reform.
Alex Tabarrok at Marginal Revolution brings us the sage words of Hart and Zingales.
Arnold Kling at EconLog on securitization.
Kling again, this time asking some very good questions about the rating agencies.
And while we're on the rating agency issue, here's Mark Thoma from Economist's View with some very good numbers.
Megan McArdle comments on what she calls GM going "nuclear."
David Henderson writes for Cato and examines the question of deregulation.
Tyler Cowen at Martinal Revolution points to two very disturbing headlines from the same day.

And as always, a set-aside section for the terrific work of BailoutSleuth...

Here giving details on five more bailout recipients.
Some coverage of the GAO report, and more contracts.
More GAO report coverage.
More banks, more bailouts!
Even more banks, even more bailouts!
Guess how many banks have been turned down...ZERO. Let me repeat that, NOT ONE BANK has been denied bailout money.