The $140 billion Henry Paulson forgot to tell us about

In September, the Treasury Department quickly and quietly submitted a tax policy change in the midst of debates over the bailout plan. There was no Congressional debate and an estimate of the cost of this policy was never released to the public. But unofficial estimates are putting the total that banks stand to gain from this at $140 billion.

This is just what we were afraid of -- a huge bailout with inadequate accountability. Rep. Barney Frank, chair of the Financial Services Committee, can put more accountability in place. Sign our petition asking Rep. Frank to make sure this kind of policy doesn't slip by again.

Petition Text:

The American people expect accountability in any bailout that is given to Wall Street. Already we are seeing holes, with the Treasury Department's sneaky tax policy allowing for huge tax breaks for banks that buy out failing financial institutions. Please put more accountability in place so this doesn't happen again.

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