Well it’s a start…
The new rules include:
Combating lobbyist influence in the EESA process: The Treasury Department will implement safeguards to prevent lobbyist influence over the program, including restricting contacts with lobbyists in connection with applications for, or disbursements of, EESA funds.
Keeping politics out of funding decisions: The Treasury Department will ensure that political influence does not interfere with EESA decision making, using as a model for these protections the limits on political influence over tax matters.
Certification to Congress on objective decision making: In reporting to Congress, the Office of Financial Stability (OFS) will certify that each investment decision is based only on investment criteria and the facts of the case.
The investment process will be transparent and based on objective criteria:
-Only banks recommended by the primary bank regulator will be eligible for capital investments.
-OFS will publish a detailed description of the investment review process undertaken by the regulators and OFS.
Full article here:
http://blogs.wsj.com/washwire/2009/01/27/treasurys-new-rules/