Rep. Calls For More Disclosure On Use Of TARP Cash

Law360, New York (February 5, 2009, 12:00 AM EST) -- A seven-term congressman on Wednesday introduced a bill in the U.S. House of Representatives that would force companies receiving federal bailout money to report expenditures on executive compensation, bonuses, certain kinds of corporate travel and other employee perks.

“When these companies come to us on their knees begging for money and then turn around and continue the partying on Wall Street with the corporate junkets and million-dollar bonuses, it is nothing less than a slap in the face of the American taxpayers,” said the bill's sponsor,...
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