US Treasury relaxing rules for hiring personnel and firms to aid bailout

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From: Taxpayers for Common Sense

After the Economic Crisis, the Fleecing? (ABC News)

Pub Date: Oct 07, 2008

Relaxing rules for hiring personnel and firms to aid the massive economic bailout are prompting concerns over waste, fraud and cronyism from watchdog groups.

The bailout under consideration by Congress "has the potential to exacerbate wasteful contracting practices," said Laura Peterson of the Washington, D.C-based nonprofit Taxpayers for Common Sense. "We have seen that in other emergency situations," like the government's efforts following Hurricane Katrina, or the war in Iraq, Peterson said.

The Treasury-led bailout effort will likely rely on a small army of private financiers to manage its details, say experts, and there are good reasons to fear for the fate of taxpayer dollars.

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