Bloomberg has filed FOIA requests to find out who Hank Paulson has given two trillion* in emergency loans to, and what collateral he accepted. (This is a separate program from the Bush + Reid + Paulson + Obama + Paulson bailout bill, where accountability is also non-existent.) Here's how the Fed responded to one request:

``I have confirmed that the information you seek is confidential commercial information,'' Federal Reserve Governor Kevin Warsh said in the letter. ``The information at issue contains confidential commercial business information regarding securities pledged as collateral in connection with JPMCs acquisition of Bear Stearns.''

I'll bet. And here's how non-Villagers react to that:

Remember Neel Kashkari*, the Goldman Sachs "creative class" gofer who's running the trillion dollar bailout for Goldman Sachs CEO Hank Paulson's golfing buddies at the big banks?

Here's what Neel Cash-and-Carry had to say about process at his bailout press conference just over a week ago:

Consistent with Congress' intent, we are committed to transparency and oversight in all aspects of the program ...

That was then. This is now. So how's that "transparency" thing working out?

Via the excellent Bailout Sleuth:

Outsourcing the bailout to contractors is really a beautiful racket, isn't it?