Thursday, October 23, 2008

Investigations: Treasury Dept. Bailout Contracts Blacked Out, a new investigative blogging venture that probes the lack of transparency in the U.S. $700-billion bailout of the financial sector, reports in this story that key info is being redacted from the publicly released versions of the contracts signed with accounting firms to do the books for the Treasury Department program. is a joint effort of Mark Cuban, owner of the Dallas Mavericks NBA team, and, a site that probes fraud in "the lower reaches of the stock market."

Interesting disclosure statement on that site: "In certain instances, the majority partner of [Cuban -A.R.] is going to make personal investments based on information we uncover. Those investments will be fully disclosed, so that readers can evaluate any potential conflicts of interest. The reporters and editors, however, will maintain policies of not holding individual securities, and we will report stories no differently than we have others throughout our careers."

TAGS: markets, fraud, investigations, bailout

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