http://personalmoneystore.com/moneyblog/2009/01/27/geithner-sets-bailout-rules-by-online-payday-loan-source/ Treasury secretary cracks down on lobbyists
WASHINGTON - DECEMBER 09: U.S. Treasury Secre...
Treasury Secretary Timothy Geithner is taking a no-nonsense approach when it comes to bailout funds.
Your online payday loan source keeps you informed on the governments use of $700 billion in bailout money.
Last year $700 billion in government funds was slated to aid the mortgage crisis and stabilize the financial system. Now it seems more companies are trying to get a piece of that pie, and lobbyist are quick to speak up for their favorite candidates.
The auto industry has asked for billions of dollars to prevent a meltdown, and it is predicted that auto parts companies will request a $10 billion to $12 billion bailout as well. Newly appointed Treasury Secretary Timothy Geithner has decided enough is enough.
Drawing a line in the cash
Geithner has made it clear that corporate lobbyist and Congressional lawmakers are barred from influencing decisions about what to do with bailout money. He specified that officials in charge of the funds are prohibited from communicating with lobbyists in connection with applications for, or disbursements of bailout money.
American taxpayers deserve to know that their money is spent in the most effective way to stabilize the financial system, Mr. Geithner said. Todays actions reaffirm our commitment toward that goal.
The Treasury Department says the efforts are aimed at protecting taxpayer money from political influence. If only we could protect online payday loan regulations from political influence. To read more on this article please visit http://personalmoneystore.com/moneyblog/2009/01/27/geithner-sets-bailout-rules-by-online-payday-loan-source/
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