BLOW THE WHISTLE: Bailed Out Firms Wasting Money? Tell Us About It
Ever since the government decided to spend hundreds of billions of dollars propping up troubled banks, there have been reports of those banks and executives spending funds on extravagant, seemingly gratuitous items.
Whether it was the insurance giant A.I.G. spending $440,000 for a week-long retreat for executives, Merrill Lynch CEO John Thain sinking more than $1 million into office decorations, Bank of America hosting a conference call to help defeat the Employee Free Choice Act, or Wells Fargo organizing (then canceling) a Vegas retreat, head-scratching expenditures seem to be the order of the day.
The Obama administration has pledged more transparency as the TARP program proceeds. But much of the sunlight will come through enterprising journalism. The Huffington Post is invested in following this story, and we need our readers' help. If you're aware of wasteful or unnecessary spending or instances that call into question the use of TARP funds, please let us know. Tell us what you see and know, what you are hearing in the office or on the street by emailing email@example.com. Anonymity is, of course, guaranteed.
The spending of taxpayer money to help resuscitate the nation's economy is one of the major stories of the year. As such, it demands extensive scrutiny. This is a request that you help us with the task.