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Recovery Loans Loosely Managed- Want To Know About Red Tape?
AP ^
| September 9, 2005
| Frank Bass & Dirk Lammers
Posted on 09/09/2005 5:02:48 AM PDT by ekwd
The government promised banks a hands-off approach in overseeing nearly $5 billion in Sept. 11 recovery aid to small businesses. What it got in return was numerous loans to companies that didn't need terror relief - or even know they were getting it, The Associated Press found.
(Excerpt) Read more at apnews1.iwon.com ...
TOPICS: Front Page News; Government; News/Current Events; US: Louisiana; US: New York
KEYWORDS: bureaucracy; bushrecovery; corruption; gummintgiveaways; katrina; redtape; sba; september12era
Want to know why bureaucratic red tape happens? If a federal official doesn't do something they end up in front of a congressional committee explaining why they didn't. If they do it they end up explaining why they wasted money along with having someone investigate whether or not some of the money ended in their pockets.
1
posted on
09/09/2005 5:02:49 AM PDT
by
ekwd
To: ekwd
Rush said yesterday that out of every 1 welfare dollar, 78 cents is used up for red tape and bureaucracy.... and that was 5 years ago.
2
posted on
09/09/2005 5:11:49 AM PDT
by
InvisibleChurch
(I support the firemen, but not their cause.)
To: InvisibleChurch
And this is the system the dems and liberals are screaming to give us "national" health care? Please.
3
posted on
09/09/2005 5:35:08 AM PDT
by
greccogirl
("Freedom belongs to those who are willing to sacrifice the most for it")
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