While it was pretty easy to file for a TARP claim from Uncle Sucker, no one knows where the billions of taxpayer dollars went that Paulson doled out. FOX News filed a FOIA request last November and they have yet to hear back. We fielded a few FOIA requests at my last job in Iraq, and you're pretty much obligated to take care of them unless the information the requester is seeking is classified. Not sure if the TARP funds went to fund secret CIA ninjas at The Octagon, but the Fed never got back with FOX, and they are pissed. From Yahoo Finance (by way of Malkin):
FOX Business Network (FBN) filed a lawsuit against the Board of Governors of the Federal Reserve System (the “Fed”) over its failure to release information requested under the Freedom of Information Act (FOIA), announced Kevin Magee, Executive Vice President, FOX News.Damn media. Why would the public want to know how the first $350 Billion dollars in an extremely controversial program was spent?
The initial request to the Fed, filed on November 10, 2008, sought the identification of the financial institutions receiving funds and an accounting of the collateral provided by these financial institutions between August 2007 and November 2008. In a second FOIA request, filed on November 18, 2008, FBN sought expedited processing and requested a list of financial institutions that have received lending from the Fed’s programs, the amounts borrowed and collateral pledged by each institution for the months of September and October of 2008, as well as the amount of collateral held by the Fed by close of business on November 14, 2008.
In making the announcement Magee said, “As a news organization, we believe in the public’s right to know and will continue in our quest to hold the government accountable for their actions on the allocation of the bailout funds.”
Obama plans to use the next $350 Billion for "ammunition" during his administration. That's a pretty expensive bullet.