Peter Barca
Press Release

Statement from Rep. Barca on WEDC Document Release

"I am shocked to learn that under Governor Walker’s leadership 26 loans totaling more than $124 million were approved by WEDC without so much as a staff review."

By - Jun 19th, 2015 06:18 pm

MADISON – Assembly Democratic Leader Peter Barca (D-Kenosha) released the following statement on documents released today by the Wisconsin Economic Development Corporation (WEDC) regarding the agency’s past loan activity:

“I am shocked to learn that under Governor Walker’s leadership 26 loans totaling more than $124 million were approved by WEDC without so much as a staff review. It is outrageous that the Board of Directors is just learning for the first time the enormous liability we face due to the careless and irresponsible approach WEDC leadership has taken in carrying out their responsibilities. And the fact that WEDC dismissively dumped thousands of pages of documents related to their loan activity late on a Friday afternoon shows their complete disregard for our citizens’ right to know about potential ethical and criminal violations and the ongoing mismanagement of taxpayer funds at Governor Walker’s WEDC.

“There are still many unanswered questions and additional pertinent information regarding how many loans were approved over the objections of underwriters that still has not been provided and I am not at all confident we have even a fraction of the troubling details board members need in order to carry out our fiduciary responsibility. This is yet another example of how senior WEDC officials have kept the board and Wisconsin taxpayers in the dark about serious problems surrounding the governor’s jobs agency.

“As a board member, I will continue to push for full transparency and accountability at WEDC. The people of Wisconsin need to have assurances that their taxpayer money is not unnecessarily at risk and that waste, fraud and abuse are not going on at this agency.”

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