Looks like there is some sort of investigation going on with the ATSB bailout loan applications. Anybody know what's up?
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UAL, US Air, America West Get Subpoenas on Loan Board Matters
March 21 (Bloomberg) -- UAL Corp.'s United Airlines, US Airways Group Inc. and America West Holdings Corp. said today they received subpoenas from the U.S. Treasury Department seeking their correspondence with airline loan board members and staff.
The subpoena seeks receipts for meals, airline tickets, gifts, loans or discounts for board staff members, the New York Times reported Saturday. The subpoena didn't say why investigators want the information and five U.S. carriers confirmed receiving them, the newspaper said, without naming them.
Anne Womack Kolton, a Treasury Department and loan board spokeswoman in Washington, declined to comment today.
Congress set up the Air Transportation Stabilization Board after the 2001 terrorist attacks to decide which airlines would receive as much as $10 billion in guarantees to help the carriers recover from the effects of the attacks.
Daniel Montgomery, a former executive director of the board, is the only member mentioned by name in the subpoena, the paper said. Montgomery, who left the board in August, declined to comment to the Times. Contacted at his New Jersey home by Bloomberg News, Montgomery said he was unaware of the subpoena before the Times story and declined to comment further.
Chicago-based United Airlines, which has a $1.6 billion loan guarantee application pending before the Air Transportation Stabilization Board, received a subpoena from the Treasury Department's inspector general, said Stephan Roth, a company spokesman. ``We're cooperating,'' he said.
http://quote.bloomberg.com/apps/news...TecHQ&refer=us