David Sirota has noted that the Treasury Department is redacting documents for public consumption related to the bailout. What’s being redacted? Those portions of contracts specifying how much private firms are going to be compensated by the Treasury for administering services related to the bailout. In particular, he posts portions of the contract with Bank of America to provide bookkeeping services for the government and with a law firm to provide legal services. The rates of compensation for both have been blacked out.

That’s certainly a reassuring start to the bailout and making sure that tax dollars won’t be used to enrich the Usual Suspects.

On the second go ’round, it looks like the Congress has passed the bailout. I have not researched the bill since it failed the first time, so my response is almost entirely emotional at this point. But, I just feel like we’re being scammed. It may well be that this had to be done lest the economy come crashing down our ears. But, Iraq has damaged me in a fundamental way. I can’t shake the feeling that we’ve seen this before. Very Serious People warn us that Dire Consequences are imminent if we don’t act NOW NOW NOW; and, really, it won’t be that expensive after all and the U.S. will really get its money’s worth — and so, our Congress passes legislation that is horribly expensive, cripples our ability to take the country in a different direction, and enriches a small group of people.

I hope I’m wrong this time. Hopefully we’re approximating the shortest path through a rough patch with this move, and we rebound sharply. Hopefully we aren’t somehow letting some very sophisticated con artists mine the last bit of value out of the country before they head down to the Caymans or Dubai or wherever the next round of the game is going to take place.

In any event, feelings are a poor substitute for considered judgment, so maybe I’ll feel better if I look more closely at the deal.