The new financial reform legislation passed by the House of Representatives is an important step towards protecting consumers and taxpayers from reckless financial practices.
WASHINGTON, February 10, 2009 – Without better oversight, the TARP bank bailout program will continue to fail, according to a report from a watchdog group. But U.S. PIRG, the Washington D.C. office of Illinois PIRG, expects today’s expected TARP reform announcements from the Obama Administration will include major improvements in oversight and accountability that will also benefit from continued use of the new US. PIRG TARP report Aard for evaluation. Pre-announcement news reports that Obama seeks “clarity” and “consistency” and “stress” evaluations of banks before receiving aid are encouraging and support the group’s recommendations.
Companies with immediate past histories of shoddy work and fraudulent practices still receive billions of dollars in federal contracts, according to a new report by the Illinois Public Interest Research Group (Illinois PIRG) Education Fund