latimes.com - 2/13/2009
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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 ...
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Investigation Looks Into Political Pressure In Bailout Distribution
Democratic Underground Latest Breaking News —
... the massive sums of money outside of public view and with criteria that were not disclosed, even to Congress. The secrecy fueled suspicion that political influences would be difficult to restrain with so much money at stake and with the banking industry in such disarray. Within months, reports began to surface that banks were actively lobbying for the funds and that members of Congress were exerting their influence on Treasury officials to give money to specific banks. Read more: http://www.latimes.com/news/nationworld/nation/la-na-ta...
Investigation looks into political pressure in bailout distribution
Democratic Underground Latest Breaking News —
... 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-ta...
Treasury to Investigate Political Pressure in TARP Bailout.
Drudge Retort —
Saturday, February 14, 2009 Treasury to Investigate Political Pressure in TARP Bailout. 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. Posted by ...
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