Investigation looks into political pressure in bailout distribution

[kpete]

Source: Los Angeles Times

Investigation looks into political pressure in bailout distribution

A special inspector at the Treasury Department is auditing the Troubled Asset Relief Program after reports that members of Congress exerted pressure and that banks actively lobbied for the money.
By Ralph Vartabedian
February 13, 2009

Amid growing public consternation with the federal banking bailout, the Treasury Department's special inspector general has opened an examination of political influence in handing out some of the $350 billion in federal bank bailout funds, The Times has learned.

The audit, which has just begun, is broad in scope but will focus on lobbying activities by financial institutions and what the special inspector general, Neil Barofsky, has called "outside influences."

The Treasury Department has released $294 billion as of last month, with most of it going to the banking industry in exchange for preferred stock and other bank securities.

When the department launched the banking rescue plan last fall, it set up a process for awarding the massive sums of money outside of public view and with criteria that were not disclosed, even to Congress.

Read more: http://www.latimes.com/news/nationworld/nation/la-na-tarp-investigation13-2009feb13,0,7813816.story

[truthisfreedom]

1. Good.

[zbdent]

2. Well, since the country's so primed for investigating tax cheats (the scream about Daschle)

and they've been primed for the Gov't digging into your personal lives, let's just take a look-see into all those financial records of Republicans ... see what these entries of long strings of numbers are, which co-incidentally match numbered bank accounts in the Cayman Islands ...

[bvar22]

3. Good!

NOW we have Your Children’s Money too !!!
And there is not a fucking thing you can do about it!
Now THIS is “Post-Partisanship” !
Better get used to it!!
Hahahahahahahahaha!