Obama to impose tough new bailout rules (Politico)

The Obama administration on Tuesday will announce tough new restrictions on bailout funds aimed at curbing lobbying by companies that receive taxpayer injections.

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“We will implement safeguards to crack down on lobbyist influence over the program, including restricting contacts with lobbyists in connection with applications for, or disbursements of” federal funds designed to shore up the financial system, the Treasury Department says in its announcement. Fourth-quarter lobbying reports had shown an increase in lobbying by GM and some financial institutions that had benefited from the federal rescue.

Full Story: Obama to impose tough new bailout rules (Politico)