fly at night

From the New Era of transparent government in America:

The Wall Street Journal reports on where some of the TARP funds went

The Treasury had said it would give money only to healthy banks, to jump-start lending. But OneUnited had seen most of its capital evaporate. Moreover, it was under attack from its regulators for allegations of poor lending practices and executive-pay abuses, including owning a Porsche for its executives’ use.

Nonetheless, in December OneUnited got a $12 million injection from the Treasury’s Troubled Asset Relief Program, or TARP. One apparent factor: the intercession of Rep. Barney Frank, the powerful head of the House Financial Services Committee.

Mr. Frank, by his own account, wrote into the TARP bill a provision specifically aimed at helping this particular home-state bank. And later, he acknowledges, he spoke to regulators urging that OneUnited be considered for a cash injection.

“He spoke to regulators” and they did what they are told. Yet Barney will take the time to abuse regulators because he didn’t like what they were doing…

“It’s totally arbitrary,” says South Carolina Gov. Mark Sanford. “If you’ve got the right lobbyist and the right representative connected to Washington or the right ties to Washington, you get the golden tap on the shoulder,” says Gov. Sanford, a Republican.

UPDATE – Power Line is reporting that the husband of Maxine Waters (D-Calif) was a one-time board member of the bank.

All on the up and up? But wait, there is more…

From Fox News, via HotAir, we have this

Rep. Jack Murtha, D-Pa., says he’d be willing to house prisoners from Guantanamo Bay in his congressional district if President Obama makes good on a plan to close the U.S. prison there.

(obvously the Congressman has not thought about building facilities for the families of the new inmates…visitation Mr. Murtha.)

Maybe this might explain the need for more pork for his district

Federal agents raided the Kuchera Companies in Windber, which include Kuchera Industries and Kuchera Defense Systems.

[snip]

The Department of Defense Inspector General’s criminal division is heading the investigation. The agency primarily investigates fraud crimes in which the government was either a part to or a victim of.

This is a company that has received millions in government money with limited or no competition. The company has also helped fund Mr. Murtha and the DCCC election activities.

Captain Ed has the full story…well, at least this part of the story…

There you have it. Day 3 of the “New Era” and the transparency is opening a whole can of worms.