Comments on: Peer Pressure to Join the Bailout Club http://dirtdiggersdigest.org/archives/237 chronicling corporate misbehavior (and how to research it) Mon, 05 Jul 2010 03:15:44 +0000 hourly 1 http://wordpress.org/?v=3.0 By: Phil Mattera http://dirtdiggersdigest.org/archives/237/comment-page-1#comment-1151 Phil Mattera Tue, 04 Nov 2008 22:14:47 +0000 http://dirtdiggersdigest.org/?p=237#comment-1151 I just put up a post about new revelations on how the application process is working. The forms that banks have to fill out when applying for the capital infusions do require some disclosures about their finances and operations, but Treasury is not applying very rigorous standards when it comes to things like requiring to banks to use the funds for the intended purpose: an expansion of lending. I just put up a post about new revelations on how the application process is working. The forms that banks have to fill out when applying for the capital infusions do require some disclosures about their finances and operations, but Treasury is not applying very rigorous standards when it comes to things like requiring to banks to use the funds for the intended purpose: an expansion of lending.

]]> By: Jay Dunham http://dirtdiggersdigest.org/archives/237/comment-page-1#comment-1150 Jay Dunham Tue, 04 Nov 2008 21:10:30 +0000 http://dirtdiggersdigest.org/?p=237#comment-1150 Don't these financial institutions have to complete and submit some sort of detailed application to participate in the bailout? If so, what power does the treasury have to "hold them to it" and/or to deny them any funds if the facts/numbers stated in the application don't warrant it? In other words, where's the accountability? Query: Does the False Claims Act apply here? Don’t these financial institutions have to complete and submit some sort of detailed application to participate in the bailout? If so, what power does the treasury have to “hold them to it” and/or to deny them any funds if the facts/numbers stated in the application don’t warrant it? In other words, where’s the accountability?

Query: Does the False Claims Act apply here?

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