PORTLAND, Ore. (NNPA) - Rep. Chip Shields (D-Portland) this week
introduced a bipartisan bill that would provide oversight of how
state-chartered banks are spending money disbursed through the Troubled
Assets Relief Program (TARP).
The move comes at the same time another new bill would create a
statewide “stimulus czar” to oversee the influx of money expected from
President Barack Obama’s economic plan.
If passed, Shields’ House Bill 2784 would convene a bipartisan
group of Oregon state senators and representatives, as well as members
of the Oregon Department of Consumer and Business Services and
representatives of the financial industry, to provide oversight and
evaluate the need for regulation of operations of financial
institutions licensed, certified or chartered in this state that
receive funds from the TARP program.
With the federal government about to transfer hundreds of billions of dollars to the states, with many of those funds going to private contractors, a broad-based, bi-partisan coalition of organizations has come together in a Coalition for an Accountable Recovery. The Coalition, which Progressive States Network participated in creating, is promoting reforms at both the federal and state level to assure transparency in how funds are used by federal and state contractors, the number of jobs created, and the quality of jobs created-- with the results posted online in easily searchable websites for the public.
In the age of Google, citizens expect to be able to find core
information on the Internet about government operations, but as a major
new report being released today highlights, most states are failing on