Congress to Investigate 9/11 Loan Abuse (WH robbed fund for regular loans)

[DeepModem Mom]

LAT/AP: Congress to Investigate 9/11 Loan Abuses
By FRANK BASS and DIRK LAMMERS, Associated Press Writers


WASHINGTON -- Congress will investigate the "flagrant abuse" of a federal loan program designed to help businesses recover from the Sept. 11 attacks and make sure such problems don't occur with Hurricane Katrina relief, a key Senate Republican announced Friday.

Sen. Olympia Snowe, R-Maine, chairwoman of the Senate Small Business and Entrepreneurship Committee, announced the investigation in response to an Associated Press story Thursday that showed the federal program 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 SBA guaranteed $3.7 billion in loans under the STAR program, bringing its total Sept. 11 assistance package for businesses to nearly $5 billion.

Sen. John Kerry of Massachusetts, the committee's top Democrat, joined in the call for an investigation.

"This was a deliberate attempt to cover up White House budget gimmicks that left the SBA's largest loan program underfunded and on the brink of shutting down," Kerry said. "The administration asked SBA employees to bend the rules and steer regular loans through the program aimed at helping businesses impacted by 9/11."...


http://www.latimes.com/news/nationworld/wire/ats-ap_top12sep09,0,509679.story

[Laelth]

1. Now this is promising!

As much as I'd like to see shrub take the fall for the mass murder that resulted from his criminal negligence, it's hard to indict someone for not acting properly. On the other hand, it's much easier to indict if there's evidence of criminal action, because the culprits always try to cover that up, and, as we know, it's always the cover-up that brings 'em down.

Looking forward to seeing whether this goes anywhere.

-Laelth

[Carla in Ca]

2. Wow, Collins and Snowe

seem to be going mod/left in the last few weeks. Nice to see.

[Laelth]

3. Blue State Republicans

Quite a few of them are going to have to move our way before we can really start getting things done. This is a noteworthy development.

-Laelth

[Carla in Ca]

5. Yeah, and I bet they are also imagining a world

with Gore or Kerry as the president right about now!

[Laelth]

9. As are most Americans, I'd bet.

As for Collins and Snowe, I'd say they're imagining getting booted out of office next time they come up for re-election, a fate they'd deserve for their support of the BFEE. But, for the moment, I'll take their support.

-Laelth

[ngGale]

4. This could be the one....

they least expected that may bring the corrupt fools down.

[StrafingMoose]

6. Why isn't Congress after Able Danger story instead?

[Lecky]

7. There's only so much corruption they can focus on I guess n/t

[texpatriot2004]

8. uh-oh somebody's in the cookie jar. n/t

[slay]

10. Republicans = criminals

Seems pretty obvious to me. Hope they can maybe finally one day bust um.