Of course, the government has arguments to make to defend such secrecy. Concealing Citi’s settlement might strengthen the government’s position versus the other banks, we’re told. The fragility of the financial system, the fact that it is based on confidence, makes disclosing recipients of government aid problematic.
But it should go without saying that in a democracy, that’s just too bad. You have to disclose it anyway.
But of course, even the massive secrecy surrounding the financial crisis is part of a larger and widening shroud of secrecy that increasingly is becoming the new normal in Washington, just one symptom of a weakened press corps
As Steve Coll says in another context, the First Amemdment is based “the self-evident truth that secrecy and concentrated power are inherently corrupting.”
Nowhere is that more true than in secrecy that still surrounds the financial crisis