Senate SBC (Snowe, Kerry) investigates abuse for federal loans for 9/11

[Mass]

http://news.yahoo.com/s/ap/20050909/ap_on_go_ca_st_pe/sept11_lax_loans;_ylt=AhWyC_t070Wn8ggzfbmAdras0NUE;_ylu=X3oDMTA3OXIzMDMzBHNlYwM3MDM-

WASHINGTON - Congress will investigate the "flagrant abuse" of a federal loan program designed to help businesses recover from the Sept. 11 attacks and make sure such problem don't occur with Hurricane Katrina relief, a key Senate Republican announced Friday.

Sen. Olympia Snowe (news, bio, voting record), R-Maine, chairwoman of the Senate Small Business and Entrepreneurship Committee, announced the investigation in response to an Associated Press story Thursday that showed the federal program was so loosely managed that it gave low-interest loans to companies that didn't need terrorism relief
...
Sen.
John Kerry of Massachusetts, the committee's top Democrat, joined in the call for an investigation.

"This was a deliberate attempt to cover up White House budget gimmicks that left the SBA's largest loan program underfunded and on the brink of shutting down," Kerry said. "The administration asked SBA employees to bend the rules and steer regular loans through the program aimed at helping businesses impacted by 9/11."

[Mass]

1. kick

[second edition]

2. Alright! I remember reading about this a bit ago. Very happy

to see it is being investigated.

[ginnyinWI]

3. kick