Archive for Corruption
Man Boob
Posted by: | CommentsSwinger Newt brought the crowd to its feet by trashing the government culture of dependency.
Holder Holds On
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Late last Friday the Justice Department dumped 2,000 documents on Congress. The stated purpose was to retract previous statements regarding gun sales to Mexican drug cartels. Despite the furious demands of Daryl Issa and others that he resign, top cop Holder held on during his Thursday testimony before Congress.
Under the supervision of ATF agents, American gun shops have sold over 2,000 guns (oddly a 1 to 1 ratio to dumped documents) to suspected Mexican gang members. The plan was to track the weapons to Mexican drug lords and arrest them. Except government superiors denied requests by agents to track the guns as they “walked” across the border. Why? No one knows, hence all the fury.
Some think it was an evil plot to create drug war violence involving American guns and use the bad publicity to clamp down on gun sales in the U.S. That seems cynical and far fetched. Except Sharyl Attkisson of CBS has come up with what may be a smoking gun:
ATF officials didn’t intend to publicly disclose their own role in letting Mexican cartels obtain the weapons, but emails show they discussed using the sales, including sales encouraged by ATF, to justify a new gun regulation called “Demand Letter 3″. That would require some U.S. gun shops to report the sale of multiple rifles or “long guns.” Demand Letter 3 was so named because it would be the third ATF program demanding gun dealers report tracing information.
On July 14, 2010 after ATF headquarters in Washington D.C. received an update on Fast and Furious, ATF Field Ops Assistant Director Mark Chait emailed Bill Newell, ATF’s Phoenix Special Agent in Charge of Fast and Furious:
“Bill – can you see if these guns were all purchased from the same (licensed gun dealer) and at one time. We are looking at anecdotal cases to support a demand letter on long gun multiple sales. Thanks.”
Whistle While You Work
Posted by: | CommentsBloomberg reports Solyndra’s boarded up factory was lavish and spa-like, complete with whistling robots.
Walk the Walk
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Wall Street wasn’t an innocent bystander but Gretchen Morgenson and Joshua Rosner pin the blame for the financial meltdown on Fannie Mae in their book Reckless Endangerment. They say Fannie head, James Johnson figured out how to monetize the outfit’s government backing.
Under Johnson, an important Democratic operative, Fannie Mae became, Morgenson and Rosner say, “the largest and most powerful financial institution in the world.” Its power derived from the unstated certainty that the government would be ultimately liable for Fannie’s obligations. This assumption and other perquisites were subsidies to Fannie Mae and Freddie Mac worth an estimated $7 billion a year. They retained about a third of this.
Morgenson and Rosner report that in 1998, when Fannie Mae’s lending hit $1 trillion, its top officials began manipulating the company’s results to generate bonuses for themselves. That year Johnson’s $1.9 million bonus brought his compensation to $21 million. In nine years, Johnson received $100 million.
Fannie Mae’s political machine dispensed campaign contributions, gave jobs to friends and relatives of legislators, hired armies of lobbyists (even paying lobbyists not to lobby against it), paid academics who wrote papers validating the homeownership mania, and spread “charitable” contributions to housing advocates across the congressional map.
Tear Down That Wall
Posted by: | CommentsThere was something for everyone in Obama’s speech last week – a new brand for Israel, 1967 Classic, and a new work ethic for the rest of the Mideast.
Bobbing along with the president’s verbal flotsam of Egyptian debt relief, enterprise funds, and IMF / World Bank schemes was this proclamation:
“Prosperity also requires tearing down walls that stand in the way of progress -– the corruption of elites who steal from their people; the red tape that stops an idea from becoming a business;”
Doc Fix
Posted by: | CommentsBaby Doc showed up in Haiti without a passport. Seems he’s down to his last $6 million, and that’s frozen in a Swiss bank account. Former Georgia congressman Bob Barr feels his pain, “He’s a man that cares very deeply about his country. He’s hurt deeply as we are when we see the devastation and utter waste of money, U.S. taxpayer money.”
The Indians got More for Manhattan
Posted by: | CommentsFive Ohio State football players have been suspended for the first 5 games of next season but not for the upcoming Sugar Bowl. Their offense was to trade championship rings and trinkets for tattoos.
It was tough to decide which target to fire a cartoon at. NCAA greed and hypocrisy for suspending the players, but not until after the big money Sugar Bowl? NCAA greed and hypocrisy for claiming control over the right of free people to exchange their personal property? The stupidity of the players?
It was a tough call, but I went with NCAA greed and hypocrisy number 2.
Contempt for Congress
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Charlie Rangel says he was denied due process because he walked out of his ethics hearing and wasn’t there to defend himself. After spending $2 million of his campaign funds on legal council he decided things had gone far enough when it came to his own money. The ethics panel found him guilty.
The Blagoshpere
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Here’s all the inside Blago baseball you need to know in a lengthy Chicago News Cooperative piece by James Warren
Rangel Rant
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Nancy Pelosi called Congress back from vacation to vote for the teacher bail-out bill. Famed vacationer, Charlie Rangel, took the opportunity to dare his colleagues to throw him out. Jon Stewart wonders how he morphed into an old Jewish guy.




