IP: VERY SAD NEWS! FY99 ROS Cut

[Dave Farber <farber () cis upenn edu>]

> From an IPer requesting non sttribution



> > > Congress has imposed an $11.4M FY99 recision due to....
> > >
> > > an Oil & Steel Company defaulting on government-backed loans which
> > > the government is now liable for.. congress is looking to all
> > > non-military agencies to help out with the debt.
>
>    In case some readers are skeptical, I can vouch for the fact that at
> least one Government agency has already been tasked to come up with its
> share!  There has to be some serious illegal activity here.  Why should
> Government agencies be forced to pay when a private sector company defaults
> on a loan?  As a Government employee and a U.S. taxpayer, I'm outraged.  I
> would like to know several things:  (1) What is the company? (2) Who loaned
> them the money (agency and/or person responsible)? (3) Who made the
> decision that Government agencies would be held liable if the company
> defaulted on the loan? and finally (4) Why hasn't this been widely
> publicized in the press?