Kucinich probing oversight of bank aid program

[G_j]

http://www.reuters.com/article/rbssFinancialServicesAndRealEstateNews/idUSN0953064020090209

US lawmaker probing oversight of bank aid program

WASHINGTON, Feb 9 (Reuters) - A U.S. House subcommittee will hold a hearing early in March to investigate whether the Treasury is getting enough information from banks to oversee the bank rescue program, Rep. Dennis Kucinich, the panel's chairman, announced on Monday.

Kucinich, an Ohio Democrat who heads the Domestic Policy subcommittee of the Oversight and Government Reform Committee, recently sent requests for documents to the largest recipients of money from the Troubled Asset Relief Program (TARP), as the bank bailout program is called.

The subcommittee will examine these records as well as look at how the Treasury is analyzing the documents received from TARP recipients, Kucinich said in a statement.

"After handing out billions to banks, we have an obligation to the taxpayers to look at all the ways that banks are using TARP funds, whether it's marketing, lavish parties, executive salaries or legitimate purposes," Kucinich said.

The lawmaker's interest had been piqued by the recent news that Citigroup Inc (C.N), recipient of billions of bailout funds, had a $400 million baseball stadium sponsorship deal with the Major League team, the New York Mets. Kucinich has urged the government to press Citigroup to end that contract. (Editing by Kenneth Barry)

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http://www.financialcrisisupdate.com/2009/02/kucinich-asks-citigroup-tarp-money-not-for-advertising-prove-it.html


February 06, 2009

Kucinich Asks Citigroup: “TARP Money Not for Advertising? Prove It”

Rep. Dennis Kucinich, D-Ohio, Chairman of the Domestic Policy Subcommittee of the Oversight and Government Reform Committee has sent a letter to the chief executive officer of Citigroup, Vikram Pandit, requesting documents that would pertain to Citigroup’s request and use of funds allocated to Citigroup by the Treasury Department under the Troubled Asset Relief Program (TARP). Kucinich made the request following media reports in which Citigroup has maintained that none of its TARP funds were used or would be used to pay $400 million for naming rights for Citi Field, the new New York Mets’ stadium built with tax exempt bonds.

http://domesticpolicy.oversight.house.gov/story.asp?ID=2308

[Loge23]

1. Thanks DK

Kucinich, who has been largely marginalized by his own rotten and corrupt peers, is one of a small handful of representatives that actually does what their job calls for.
I appreciate that we still a few representatives that understands our Constitution.

[peacetalksforall]

2. If all our leaders were as patriotic as he.

[G_j]

5. we would live in a far better world nt

[Greyhound]

3. K&R

[chill_wind]

4. #5 to the GP

[G_j]

6. ==

[Pastiche423]

7. K&R!

[chill_wind]

8. For all of the anger at the theft and the corruption, the DU kudos here

for this effort seem surprising few. kick.

[G_j]

10. worth another..

kick

thanks

[Quantess]

9. kick

[Blaze Diem]

11. Dept of Peace. Make the world a better place.

Love that sign.

[goforit]

12. Here Here!!! Dennis!!! Was the stadium sponsorship brought up at the hearings?