Check out the financial disclosure forms for Obama administration officials

ProPublica.org has posted the financial disclosure statements of nearly 180 members of President Barack Obama's team, including Treasury Department officials and others helping to guide the administration's economic-stability efforts.

ProPublica, a nonprofit journalism organization, is asking its readers and the general public to help review all of the filings to see if they can find anything notable.

We'll be checking out the disclosure forms, and we urge our readers to do the same. Click on this link to visit the ProPublica page where the documents are posted.

The collection includes the financial disclosure statements for Treasury Secretary Timothy F. Geithner; Lawrence H. Summers, director of the National Economic Council; and Mary L. Schapiro, head of the Securities and Exchange Commission.

Among other things, the disclosure statements show whether the Obama administration officials have investments in banks or other companies that could get government funds through the Troubled Asset Relief Program. Similarly, the documents show how those employees might benefit from other economic-stability initiatives, including toxic asset purchases and federal stimulus spending.

Summers' financial disclosure statement last week showed that he received $5.2 million in 2008 for his part-time role at a hedge fund company called D.E. Shaw & Co. He also collected nearly $2.8 million in speaking fees, with the biggest single payment -- $135,000 -- coming from Goldman Sachs Group Inc.

That investment bank got $10 million in TARP money last October, and has received billions more through the government bailout of AIG Group Inc. Goldman Sachs was a counterparty to some of the transactions at the root of AIG's problems. 

published April 8, 2009, 1 Comments

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This page contains a single entry by Chris Carey published on April 8, 2009 8:30 PM.

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