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Cuban Calling Bs On Bailout

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by Andrea Chalupa
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Oct 29 2008 3:08pm EDT

Cuban Calling B.S. on Bailout

Andrea Chalupa writes: Mark Cuban's latest "work in progress" is BailoutSleuth, a site dedicated to closely monitoring the bailout process for signs of fraud or other nefariousness.

Cuban and Chris Carey, the editor for the Cuban-backed ShareSleuth.com, a lackluster site that calls out fraud in traded companies, will closely "track the government's $700 billion rescue plan," reporting and analyzing "the companies and people involved in them."

Already the site has lots of goodies. A contract between the Treasury Department and PricewaterhouseCoopers is blacked out over portions discussing the firm's bid as well as the name of the partner who signed the deal. Also blacked out is the executive compensation in the first contract handed out in the $700 billion bailout, to Bank of NY Mellon Corp.    
 
On his blog, Cuban promised to try to roll out reports and exposes every day. "Without complete transparency, we will get from our government what we always get when it comes to finances, confusion."

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