Thoughts, essays, and writings on Liberty. Written by the heirs of Patrick Henry.

“There is in all of us a strong disposition to believe that anything lawful is also legitimate. This belief is so widespread that many persons have erroneously held that things are “just” because the law makes them so.”     Frederick Bastiat

January 28, 2009

Treasury Bars Lobbyists From TARP II

by Brad Warbiany

Not sure how they intend to accomplish this, and the WaPo story suggests they’re not sure either:

Treasury Secretary Timothy F. Geithner issued new guidelines yesterday aimed at eliminating the influence of lobbyists on the $700 billion financial bailout program by restricting their contact with officials who are reviewing applications for money and deciding how to disburse it.

Treasury officials also will seek to limit political influence over the funds, saying they will use similar restrictions that forbid such influence in tax matters as a model. The department’s Office of Financial Stability will be required to certify to Congress that each government investment is based solely on objective criteria. As part of that effort, only banks recommended by their primary regulator will be eligible for capital investments.

Great, so lobbyists won’t have any more influence over TARP II than they will over our tax code. I feel better.

UPDATE 1/28 2 PM PST: Geithner follows this up by announcing an ex-Goldman Sachs lobbyist as his chief of staff. Hat Tip – Cafe Hayek.

TrackBack URI: http://www.thelibertypapers.org/2009/01/28/treasury-bars-lobbyists-from-tarp-ii/trackback/
Read more posts from
• • •

2 Comments

  1. I just thought of a great way to eliminate lobbyist influence over bailout funds. Stop funding bailouts.

    Comment by Akston — January 28, 2009 @ 9:51 am
  2. Akston, that’s the *only* way.

    Comment by Quincy — January 28, 2009 @ 10:34 am

Comments RSS

Subscribe without commenting

Sorry, the comment form is closed at this time.

Powered by: WordPress • Template by: Eric • Banner #1, #3, #4 by Stephen Macklin • Banner #2 by Mark RaynerXML