Rep. Mary Jo Kilroy discusses the provisions of the PROFIT act: maximize ROI for the taxpayers, and add transparency. What's not to like?

The PROFIT act now has 10 co-sponsors:

Matt Taibbi asks: Is Goldman screwing taxpayers on TARP negotiations?

Can you guess what the answer is? I knew you could!

Goldman Sachs and its ilk, who received billions in taxpayer money through TARP to keep them in business, have recently posted high quarterly profits. But what do the taxpayers get for our largesse? This is not a non-sequitur, as a post in naked capitalism today makes clear; and at least 6 House Democrats want to do something about the situation. That is the PROFIT act, which Mary Jo Kilroy (D-OH) and six others (Reps. Brad Sherman, John Boccieri, Betty Sutton, Jackie Speier, Marcia Fudge and Alan Grayson) introduced to little fanfare last week.

via Barry Ritholz:

PROFIT Act to Make Taxpayers, Transparency Priority in Bank Bailout Payback

July 16, 2009 4:21 PM

Mary Jo Kilroy, a member of the House Committee on Financial Services, and 6 other co-sponsors file legislation to increase profit for Americans, increase transparency and remove any secrecy from ongoing negotiations between Treasury and banks