The Treasury Department said Tuesday it had chosen Pricewaterhouse Coopers to be the auditor for the program. Ernst & Young will provide general accounting support.
The two firms will work on the part of the rescue program that is handling the purchase of troubled assets from banks as a way of encouraging them to resume more normal lending.
Treasury said that Ernst & Young will be paid $492,006.95 initially while Pricewaterhouse Coopers will be paid $191,469.27 for its services initially. The two contracts last until Sept. 30, 2011.
My Response: As the lottery continues, two major firms have already been chosen to receive financial assistance from the bailout out. These firms being Pricewaterhouse Coopers and Ernst & Young. Supposedly these firms are suppose to be assisting the bailout plan, in the same effort, they are being assisted with funds for their companies. It doesn't seem as if their really being helped by the bailout, but more like their being paid to help with the bailout.
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