Inouye's office inquired about bank's aid request

[Terri]

By JIM KUHNHENN
Associated Press
July 2, 2009

WASHINGTON (AP) -- Hardly a bank bailout hearing goes by in Congress without a lawmaker raising a question on behalf of constituent banks that have applied for federal assistance from the government's financial bailout fund.

Now, the case of Sen. Daniel Inouye and his office's inquiry to a federal regulator regarding a Hawaii bank is drawing new attention to the role lawmakers are playing in the government's decisions on how to divvy up the $700 billion Troubled Asset Relief Program.

Constituent service or undue influence?

In Inouye's case, the Hawaii Democrat was also one of the founders of the bank, Central Pacific Financial. And while he holds no official position with it, he is a shareholder who has watched the value of his stock in the bank drop precipitously.

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