Lying for the Greater Good?

Paul O'Neill was the Treasury Secretary under the first President Bush.

Mr O'Neill told ABC News:

“So they all took the money. Stop and think about that. What was the purpose of this policy? To deceive the people so that the public would not know which banks were in danger of failing? Why didn’t any of the CEO’s, claiming not to need the money, have the courage to refuse?” ...

“If banks now claim they want to return the money because they don’t need it, why do they have to raise new capital to replace the money from we the people in order to repay the government?”...

“Is the public ever going to have clear facts regarding any of the individual institutions?...

For months I have been calling for a public disclosure of all bank assets by rating class, along with facts showing the face value of so-called toxic assets along with the associated current book keeping value and associated reserve account. The public and members of Congress seem to be accepting of the idea that a handful of people in the administration and the Fed should do all of this in secret.”

I couldn't have said it better than he regarding the current Team Obama's refusal to be transparent and its favoritism towards Wall Street.