AP: 9/11 Recovery Loans Loosely Managed

[LTR]

The government's $5 billion effort to help small businesses recover from the Sept. 11 attacks was so loosely managed that it gave low-interest loans to companies that didn't need terrorism relief — or even know they were getting it, The Associated Press has found.

And while some at New York's Ground Zero couldn't get assistance they desperately sought, companies far removed from the devastation — a South Dakota country radio station, a Virgin Islands perfume shop, a Utah dog boutique and more than 100 Dunkin' Donuts and Subway sandwich shops — had no problem winning the government-guaranteed loans.

Dentists and chiropractors in numerous cities, as well as an Oregon winery that sold trendy pinot noir to New York City restaurants also got assistance.

"That's scary. Nine-11 had nothing to do with this," said James Munsey, a Virginia entrepreneur who described himself as "beyond shocked" to learn his nearly $1 million loan to buy a special events company in Richmond was drawn from the Sept. 11 program.

(more)

http://news.yahoo.com/s/ap/20050909/ap_on_bi_ge/sept_11_lax_loans

[tridim]

1. Do we deserve a full, public accounting of the money that's spent in NO?

I assume we do, but with Bushco in charge who knows?

There should never be black budgets in disaster relief.

[Erika]

2. So what's new?

Bush is only worried about responsibility and accountability for the programs to the poor, not the programs to the rich.

[bemildred]

3. "United States discovered to be a corrupt banana republic (again)."

Seriously, if this shit happened in, say, some country in
Africa, can you IMAGINE the slop that would be shoveled
all over it by our "News" media. But here we get "loosely
managed".