Obama Transition Team Sets Strict Rules

John Podesta, co-chair of Barack Obama's presidential transition team, laid out in a press conference Tuesday a set of ethic rules for the transition team. The rules are a sure sign President-elect Barack Obama is serious about bringing change to Washington.

The rules strictly limit the participation of lobbyists. Lobbyists won't be able to work for the transition team if they have lobbied on the federal level in the last 12 months. Anyone working on the transition team will not be able to lobby the Obama administration for the following 12 months.

They also are not allowed to donate to the transition team fund. Finally, the transition team will have to adhere to a gift ban based on a recent congressional ethics bill.

The transition team's budget will be $12 million, of which $5.2 million comes from congressional funds authorized in legislation. The team plans to raise the additional funds. Contributions will be limited to $5,000 and will be publicly disclosed. ...