From the "who didn't see this coming" department, we find out that
the administration that promised us great leaps for governmental
transparency...to say nothing of the extra steps they promised to take
in order to sell enough members of Congress to pass the stimulus
boondoggle...has failed to deliver.

Via the Denver Post: 

The
goal was to build a reporting system that allows the public to follow
the zigzagging paths of dollars awarded under the $787 billion federal
stimulus package. A financial GPS of sorts. But despite federal
lawmakers’ pledge of transparency, the final stages of most
money trails, along with key information about job impacts, will remain
invisible to users of the Recovery.org website when it debuts next
month.

Only details of a stimulus grant’s passage
through its first two stops after it leaves the federal government must
be reported, according to guidance memos from the White House Office of
Management and Budget. That means billions of dollars will be
untrackable and thousands of recipients will be left unidentified
through the database, officials acknowledge.

“That isn’t
transparent, and that’s the primary concern,” said Craig Jennings,
senior policy analyst for OMB Watch, a Washington, D.C.-based think
tank examining stimulus spending.

“You basically lose track of
billions of dollars, and in many cases there will be a whole lot of
interesting connections at the sub, sub levels of funding missed,” he
said. “These are levels that need oversight to prevent waste, fraud and abuse.”

That last sentence pretty much explains "why" it won't be completely transparent.

As
everyone with half a brain, or any experience whatsoever watching how
big government works over the years could figure out, anytime you're
talking about programs or legislation that involve this kind of money,
it's going to be absolutely rife with "fraud and abuse".  And given the
level of outrage over the "stimulus" to begin with, hence the need to
keep it away from prying eyes.