*And the rest of those in Congress who haven't yet got the picture. We've had enough! I'd also like to point out that Judicial Watch Announced their list of Washington's "Ten Most Wanted Corrupt Politicians" for 2009
WASHINGTON, DC, Dec 28, 2009 (MARKETWIRE via COMTEX) -- Judicial Watch, the public interest group that investigates and prosecutes government corruption, today released its 2009 list of Washington's "Ten Most Wanted Corrupt Politicians."
*Bill Clinton (by Martin McLaughlin, November 1999). An agreement between the Clinton administration and congressional Republicans, reached during all-night negotiations which concluded in the early hours of October 22, sets the stage for passage of the most sweeping banking deregulation bill in American history, lifting virtually all restraints on the operation of the giant monopolies which dominate the financial system.
*Stanley O'Neal, the former president and CEO of Merrill Lynch, led his firm into the risky territory of subprime mortgage bonds that eventually led to its demise. O'Neal was named by CNBC one of the "Worst American CEOs of All Time," but when he was replaced by John Thain in 2007, he took with him $161.5 million worth of stock in severance. In 2008, he was appointed to the board of the aluminum company Alcoa but reportedly still has enough downtime to play golf several times per week.
*John Boehner joined with other Republican leaders in browbeating lobbying firms into hiring more Republicans and threatened PACs with exclusion from GOP briefings and events if they did not donate more to GOP candidates and causes. His style is smoother than DeLay, the GOP pit bull who openly stated "I dont give a rats ass about the law. Boehner smiles and talks in diplomatic terms but the smile masked a ruthlessness that says play ball our way or dont play in our ballpark.
*Sandy Weill, the former chairman and CEO of Citigroup was among those who pressed for the repeal of the Glass-Steagall Act and ushered in the era of deregulation in the 1990s. Shortly after Citigroup was propped up with $45 billion in taxpayer dollars, Weil used a corporate jet to take his family to a Mexican resort for New Year's Eve (a privilege he has since forgone). He is said to be incensed that current Citigroup CEO Vikram Pandit has declined to confer with him.
*President Barack Obama: during his campaign, President Obama promised to run an ethical and transparent administration. Under the President's bailout schemes, the federal government continues to appropriate or control -- through fiat and threats -- large sectors of the private economy, prompting columnist George Will to write: "The activity of political allocation of wealth and opportunity -- is not merely susceptible to corruption, it is corruption."
*Richard Fuld, the former CEO of Lehman Brothers, the storied investment house whose collapse set off the financial crisis, is starting a consulting firm Matrix Advisors and has done some work for Alvarez and Marsal, the restructuring firm helping to unwind Lehman. Last week, he told a Reuters reporter who tracked him down to his country home in Ketchum, Idaho, I've been pummeled, I've been dumped on, and it's all going to happen again. I can handle it. You know what, let them line up."
*Kerry Killinger, named "Banker Of The Year" by American Banker in 2001, there's been little word of Killinger's endeavors since he led Washington Mutual to the largest bank failure in U.S. history. Killinger's $100 million golden parachute, however, is still fresh in the mind's of many WaMu's native pacific northwest. Killinger was WaMu's CEO from 1990 until 2008, when he was forced out as the bank buckled under shaky loans and growing debts.
*Nancy Pelosi is working to shield lawmakers from federal investigators. Special legal protections for politicians encourage unethical conduct. Irvin B. Nathan, general counsel of the House of Representatives, sent a letter to Attorney General Eric H. Holder Jr. on Monday about establishing a protocol on how to handle "hopefully rare searches and electronic surveillance involving members of Congress." Mr. Nathan failed to negotiate such an agreement with the Bush administration,
*John Thain, who was tapped to run Merrill Lynch in December 2007, was forced out by Bank of America's CEO Ken Lewis in January 2009 shortly after BofA's takeover of the investment bank. Thain drew fire when he reportedly attempted to accelerate bonus payments to Merrill employees -- including $10 million for himself -- even as the firm faltered. And he got more bad press when it was learned that he spent $1.2 million to redecorate his office suite. Purchases included a $35,000 commode.
*Edward M. Liddy, defend millions of dollars' worth of bonuses doled out to AIG employees despite the company's need for a $170 billion government bailout. Liddy, who took over AIG says the bonus payments, while "distasteful," had to be paid. He has become a reluctant defender of princely employee bonuses that (some) members of Congress — and much of the American public — find indefensible.
*Joseph Cassano resigned as the head of the financial products division at AIG in February 2008 after his unit's derivatives unit blew up and caused billions of dollars in losses. Cassano, who during his tenure earned more than $300 million, fled to London, where he reportedly takes daily bicycle rides around his 'hood. In September 2009 the government announced that it will soon impanel a grand jury to consider indicting him for securities fraud.
*Franklin Raines, CEO of Fannie Mae from 1999 to 2004, left amid accusations that he manipulated the books to rationalize exorbitant bonuses for himself and other senior managers. In 2006 the government filed suit against Raines and two of his top associates in an attempt to recoup $115 million in undeserved compensation and $100 million in fees, but the three men quietly settled for $31.8 million. Fannie Mae committed to footing the bill for any shareholder suits filed against (retired) Raines.
*Angelo Mozilo, the former chief executive of the largest subprime lender in the country Countrywide Financial has been laying low at his California home and meeting with lawyers since he was charged by the SEC in June with insider trading and securities fraud. Among other things, the SEC alleges that he used words like "toxic" and "poison" to refer to Countrywide's mortgage books. His lawyers contend that the SECs suit misquotes evidence and ignores company disclosures.
*Alan Schwartz presided over Bear Stearns for a scant two months before the bank's demise in March 2008. The former CEO is now the executive chairman of Guggenheim Partners, where he recently hired his old Bear colleague Kenneth Savio to fashion an equity-trading desk at the financial firm.
*John McCain who testified before the Senate Ethics Committee regarding his involvement with Charles Keating and the Lincoln Savings and Loan, the samples of the rich trove of Corrupt McCain evidence turns up a pretty good initial batch of sleaze: Corrupt banker/developer Charles Keating was, obviously, an immediate supporter of McCains long congressional career. Keating showered dirty money and fancy vacations on McCain, who loves all that shit!
*Senator Christopher Dodd (D-CT): This marks two years in a row for Senator Dodd, who made the 2008 "Ten Most Corrupt" list for his corrupt relationship with Fannie Mae and Freddie Mac and for accepting preferential treatment and loan terms from Countrywide Financial, a scandal which still dogs him. In 2009, the scandals kept coming for the Connecticut Democrat. In 2009, Judicial Watch filed a Senate ethics complaint against Dodd for undervaluing a property he owns in Ireland.
*Christopher Cox, the former chairman of the Securities and Exchange Commission, who has been blamed for the agencys lax enforcement and failure to catch Bernie Madoff, now works as a corporate partner in the Orange County office of Bingham McCutcheon law firm. Cox has defended his leadership, claiming that he provided a "steady hand" at the SEC during a moment of crisis.
*George duh-bull- ya' Bush *Former Treasury Secretary and Goldman Sachs chief Hank Paulson was at the helm when the global financial system teetered in 2008. Under his leadership the government intervened to save Wall Street from outright collapse. Since leaving government, Paulson has become a distinguished visiting scholar at Johns Hopkins University's Paul Nitze School of Advanced International Studies as well as a fellow at the university's Bernard Schwartz Forum on Constructive Capitalism.
*Alan Greenspan, the former chairman of the Federal Reserve who has been widely blamed for creating excessive easy money which helped prompt the credit crisis, has done pretty well for himself since stepping down in early 2006. He works as a consultant to hedge fund Paulson & Co., Deutsche Bank and bond investment company Pacific Investment Management (PIMCO). Greenspan has admitted his mistake in not realizing that there was a bubble in the housing market until it was too late.
Comment removed
stopGOVTwaste 2 years ago
*And the rest of those in Congress who haven't yet got the picture. We've had enough! I'd also like to point out that Judicial Watch Announced their list of Washington's "Ten Most Wanted Corrupt Politicians" for 2009
WASHINGTON, DC, Dec 28, 2009 (MARKETWIRE via COMTEX) -- Judicial Watch, the public interest group that investigates and prosecutes government corruption, today released its 2009 list of Washington's "Ten Most Wanted Corrupt Politicians."
stopGOVTwaste 2 years ago
*Bill Clinton (by Martin McLaughlin, November 1999). An agreement between the Clinton administration and congressional Republicans, reached during all-night negotiations which concluded in the early hours of October 22, sets the stage for passage of the most sweeping banking deregulation bill in American history, lifting virtually all restraints on the operation of the giant monopolies which dominate the financial system.
stopGOVTwaste 2 years ago
*Stanley O'Neal, the former president and CEO of Merrill Lynch, led his firm into the risky territory of subprime mortgage bonds that eventually led to its demise. O'Neal was named by CNBC one of the "Worst American CEOs of All Time," but when he was replaced by John Thain in 2007, he took with him $161.5 million worth of stock in severance. In 2008, he was appointed to the board of the aluminum company Alcoa but reportedly still has enough downtime to play golf several times per week.
stopGOVTwaste 2 years ago
*John Boehner joined with other Republican leaders in browbeating lobbying firms into hiring more Republicans and threatened PACs with exclusion from GOP briefings and events if they did not donate more to GOP candidates and causes. His style is smoother than DeLay, the GOP pit bull who openly stated "I dont give a rats ass about the law. Boehner smiles and talks in diplomatic terms but the smile masked a ruthlessness that says play ball our way or dont play in our ballpark.
stopGOVTwaste 2 years ago
*Sandy Weill, the former chairman and CEO of Citigroup was among those who pressed for the repeal of the Glass-Steagall Act and ushered in the era of deregulation in the 1990s. Shortly after Citigroup was propped up with $45 billion in taxpayer dollars, Weil used a corporate jet to take his family to a Mexican resort for New Year's Eve (a privilege he has since forgone). He is said to be incensed that current Citigroup CEO Vikram Pandit has declined to confer with him.
stopGOVTwaste 2 years ago
*President Barack Obama: during his campaign, President Obama promised to run an ethical and transparent administration. Under the President's bailout schemes, the federal government continues to appropriate or control -- through fiat and threats -- large sectors of the private economy, prompting columnist George Will to write: "The activity of political allocation of wealth and opportunity -- is not merely susceptible to corruption, it is corruption."
stopGOVTwaste 2 years ago
*Richard Fuld, the former CEO of Lehman Brothers, the storied investment house whose collapse set off the financial crisis, is starting a consulting firm Matrix Advisors and has done some work for Alvarez and Marsal, the restructuring firm helping to unwind Lehman. Last week, he told a Reuters reporter who tracked him down to his country home in Ketchum, Idaho, I've been pummeled, I've been dumped on, and it's all going to happen again. I can handle it. You know what, let them line up."
stopGOVTwaste 2 years ago
*Kerry Killinger, named "Banker Of The Year" by American Banker in 2001, there's been little word of Killinger's endeavors since he led Washington Mutual to the largest bank failure in U.S. history. Killinger's $100 million golden parachute, however, is still fresh in the mind's of many WaMu's native pacific northwest. Killinger was WaMu's CEO from 1990 until 2008, when he was forced out as the bank buckled under shaky loans and growing debts.
stopGOVTwaste 2 years ago
*Dick Cheney (Google Bob Chapman & SueAnn Arrigo).
stopGOVTwaste 2 years ago
*Nancy Pelosi is working to shield lawmakers from federal investigators. Special legal protections for politicians encourage unethical conduct. Irvin B. Nathan, general counsel of the House of Representatives, sent a letter to Attorney General Eric H. Holder Jr. on Monday about establishing a protocol on how to handle "hopefully rare searches and electronic surveillance involving members of Congress." Mr. Nathan failed to negotiate such an agreement with the Bush administration,
stopGOVTwaste 2 years ago
*John Thain, who was tapped to run Merrill Lynch in December 2007, was forced out by Bank of America's CEO Ken Lewis in January 2009 shortly after BofA's takeover of the investment bank. Thain drew fire when he reportedly attempted to accelerate bonus payments to Merrill employees -- including $10 million for himself -- even as the firm faltered. And he got more bad press when it was learned that he spent $1.2 million to redecorate his office suite. Purchases included a $35,000 commode.
stopGOVTwaste 2 years ago
*Edward M. Liddy, defend millions of dollars' worth of bonuses doled out to AIG employees despite the company's need for a $170 billion government bailout. Liddy, who took over AIG says the bonus payments, while "distasteful," had to be paid. He has become a reluctant defender of princely employee bonuses that (some) members of Congress — and much of the American public — find indefensible.
stopGOVTwaste 2 years ago
*Joseph Cassano resigned as the head of the financial products division at AIG in February 2008 after his unit's derivatives unit blew up and caused billions of dollars in losses. Cassano, who during his tenure earned more than $300 million, fled to London, where he reportedly takes daily bicycle rides around his 'hood. In September 2009 the government announced that it will soon impanel a grand jury to consider indicting him for securities fraud.
stopGOVTwaste 2 years ago
*Franklin Raines, CEO of Fannie Mae from 1999 to 2004, left amid accusations that he manipulated the books to rationalize exorbitant bonuses for himself and other senior managers. In 2006 the government filed suit against Raines and two of his top associates in an attempt to recoup $115 million in undeserved compensation and $100 million in fees, but the three men quietly settled for $31.8 million. Fannie Mae committed to footing the bill for any shareholder suits filed against (retired) Raines.
stopGOVTwaste 2 years ago
*Angelo Mozilo, the former chief executive of the largest subprime lender in the country Countrywide Financial has been laying low at his California home and meeting with lawyers since he was charged by the SEC in June with insider trading and securities fraud. Among other things, the SEC alleges that he used words like "toxic" and "poison" to refer to Countrywide's mortgage books. His lawyers contend that the SECs suit misquotes evidence and ignores company disclosures.
stopGOVTwaste 2 years ago
*Alan Schwartz presided over Bear Stearns for a scant two months before the bank's demise in March 2008. The former CEO is now the executive chairman of Guggenheim Partners, where he recently hired his old Bear colleague Kenneth Savio to fashion an equity-trading desk at the financial firm.
stopGOVTwaste 2 years ago
*John McCain who testified before the Senate Ethics Committee regarding his involvement with Charles Keating and the Lincoln Savings and Loan, the samples of the rich trove of Corrupt McCain evidence turns up a pretty good initial batch of sleaze: Corrupt banker/developer Charles Keating was, obviously, an immediate supporter of McCains long congressional career. Keating showered dirty money and fancy vacations on McCain, who loves all that shit!
stopGOVTwaste 2 years ago
*Senator Christopher Dodd (D-CT): This marks two years in a row for Senator Dodd, who made the 2008 "Ten Most Corrupt" list for his corrupt relationship with Fannie Mae and Freddie Mac and for accepting preferential treatment and loan terms from Countrywide Financial, a scandal which still dogs him. In 2009, the scandals kept coming for the Connecticut Democrat. In 2009, Judicial Watch filed a Senate ethics complaint against Dodd for undervaluing a property he owns in Ireland.
stopGOVTwaste 2 years ago
*Christopher Cox, the former chairman of the Securities and Exchange Commission, who has been blamed for the agencys lax enforcement and failure to catch Bernie Madoff, now works as a corporate partner in the Orange County office of Bingham McCutcheon law firm. Cox has defended his leadership, claiming that he provided a "steady hand" at the SEC during a moment of crisis.
stopGOVTwaste 2 years ago
*George duh-bull- ya' Bush *Former Treasury Secretary and Goldman Sachs chief Hank Paulson was at the helm when the global financial system teetered in 2008. Under his leadership the government intervened to save Wall Street from outright collapse. Since leaving government, Paulson has become a distinguished visiting scholar at Johns Hopkins University's Paul Nitze School of Advanced International Studies as well as a fellow at the university's Bernard Schwartz Forum on Constructive Capitalism.
stopGOVTwaste 2 years ago
Starring;
*Alan Greenspan, the former chairman of the Federal Reserve who has been widely blamed for creating excessive easy money which helped prompt the credit crisis, has done pretty well for himself since stepping down in early 2006. He works as a consultant to hedge fund Paulson & Co., Deutsche Bank and bond investment company Pacific Investment Management (PIMCO). Greenspan has admitted his mistake in not realizing that there was a bubble in the housing market until it was too late.
stopGOVTwaste 2 years ago