A former Treasury official has told the watchdog for the $700 billion Wall Street bailout program that President Obama's promise to restrict lobbyist access to the bailout was made purely for political reasons.
Months after the administration's pledge, the lobbyist rules haven't been implemented and Neel Kashkari, the one-time czar of the agency's Troubled Asset Relief Program, told the office of the special inspector general for TARP that the pledge to craft safeguards against lobbyist influence was a defensive move.
"Mr. Kashkari believed that this statement was purely for political reasons with Obama's new entering administration, and that there was no substantive reason for this announcement," the office wrote in a document obtained by The Washington Times in which the inspector general recounted Mr. Kashkari's April 30 interview with the auditors.
