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Week of February 1, 2009 - February 7, 2009

Developer Procida's 100-day Plan to Distribute Capital Locally (GLOBEST)


from my story at GLOBEST.COM

excerpt:


He argues that instead of funneling billions of dollars into the nation's largest banks, the federal government should deploy $100 million, each, to 100 local investment managers

"Time is the key to the plan," Procida tells GlobeSt.com. "If the government had told the banks they had 100 days to deploy the capital they were given, you and I wouldn't even be talking now."

But Procida is talking, and he says he has been attempting to capture the attention of policy makers while hoping to further inject his 100-day plan into the national conversation. Procida says he began writing the Obama transition team last Nov. 25, when he introduced himself and his plan. He stressed an emphasis on localization and a return to banking and business fundamentals. Nine days later, on Dec. 4, Procida wrote again.

also:

Interestingly, on February 4, the non-partisan research group--the Center for Responsive Poitics in Washington--reported that that 161 companies approved for TARP money gave $37.5 million to federal candidates, parties and committees in the 2007-2008 election cycle. According to the group's report, the companies giving the most to fund lawmakers campaigns and spending the most on lobbying efforts were also those that received the most TARP money.

LINK TO FULL STORY AT GLOBEST.COM




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