$124,000,000 Without Underwriters’ Review 

“In its first 15 months, a jobs agency created by Wisconsin Gov. Scott Walker gave businesses 26 awards worth $124.3 million in all without a formal review of the deals by underwriters.

The Wisconsin Economic Development Corp. is reporting to its board on the awards made between July 2011 and June 2013 after reports that the agency in September 2011 gave an unvetted, unsecured $500,000 loan from taxpayers to Building Committee Inc., a now-defunct company whose owner had been taken to court a year earlier for not paying taxes.

The records also confirmed for the first time that the prominent lobbyists for Building Committee included Gary George, a former Democratic state senator who was convicted in 2004 of one felony count of conspiring to defraud the government….

 

Via Jobs agency gave loans, credits to firms without financial review @ JSOnline.