Sharesleuth, the independent business journalism site run by former St. Louis Post-Dispatch business reporter Chris Carey and funded by billionaire Mark Cuban, plans to start another site called BailoutSleuth that will take a look at the government’s $700 billion funding of banks and other companies caught up in the economic turmoil.
Carey writes, “The site will monitor the government’s purchase, and eventual sale, of bad mortgages and other distressed assets. It will provide regular reports on the process, tracking and analyzing deals and providing information about the companies and people involved in them.
“BailoutSleuth will seek to add transparency to the bailout program, and will keep an eye out for favoritism, political influence or anything else that could undermine the potential returns to taxpayers.
“To that end, we’re seeking a reporter who can write daily dispatches and produce longer investigative stories. We’re also looking to hire a financial analyst who can evaluate the deals and help make sense of them for a general audience.”
Read more here. Editor’s note: Cuban was charged with insider trading today.