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TITLE I - Troubled Assets Relief Program

Sec. 108. CONFLICTS OF INTEREST. (4 Comments) subscribe to the comments feed

  1. STANDARDS REQUIRED.The Secretary shall issue regulations or guidelines necessary to address and manage or to prohibit conflicts of interest that may arise in connection with the administration and execution of the authorities provided under this Act, including

    1. conflicts arising in the selection or hiring of contractors or advisors, including asset managers;

    2. the purchase of troubled assets;

    3. the management of the troubled assets held;

    4. post-employment restrictions on employees; and

    5. any other potential conflict of interest, as the Secretary deems necessary or appropriate in the public interest.

  2. TIMING.Regulations or guidelines required by this section shall be issued as soon as practicable after the date of enactment of this Act.

4 comments on Sec. 108. CONFLICTS OF INTEREST.

  • Interesting, it strikes me that conflict of intrest rules already were in effect when the oversight committees oversaw this disaster. Can I trust that these rules will be ignored again?

    posted by Shane at October 1, 2008

  • This clause is disgusting - the fox sets his own rules about who will rape in the henhouse. Cronyism guaranteed. This should be open to judicial review.

    posted by Anonymous at October 1, 2008

  • Shane, check out the previous section (107). It explicitly makes it clear that the existing Conflicts of interest rules no longer apply (whether or not they were followed before... now they're irrelevant even on paper).

    posted by Peter Van at October 1, 2008

  • what about the conflict of the entire Obama administration? i wonder.

    posted by Anonymous at December 3, 2008
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