Barack Obama

Is Obama Responsible for McCrudden's Threats?

McCrudden photoThe FBI's reported arrest of money manager Vincent McCrudden for allegedly making threats to kill members of the Securities and Exchange Commission (SEC) and other government officials prompts the question of what role, if any, anti-capitalist and anti-Wall Street rhetoric played in his actions. If the logic of the Left that was applied to the Tucson shootings - that Tea Partiers and Sarah Palin somehow had something to do with Jared Loughner's rampage -  should not President Obama and other politicians be held responsible for McCrudden's threats?

According to CampaignMoney.com, a Vincent McCrudden made a $2,300 donation to Obama for America on April 19, 2007.

ShoreBank Successor Named Crooked Contractor to Board

It's only been four months since the FDIC seized the Obama-favored ShoreBank, changed management, adjusted some of the director oversight, and kept the machine running as Urban Partnership Bank. But it turns out a name change makes no difference when it comes to institutions born, raised and protected under Chicago politics. Crain's Chicago Business reports:

Lame Duck Congress Approves $4.55 Billion to Settle Pigford, Indian Land Trust Suits

money in handDemanding reparations from the federal government is now a growth industry. And Congress just helped it grow some more. Yesterday the House of Representatives voted 256-152 to authorize $4.55 billion to settle a pair of unrelated longstanding class-action lawsuits, one against the U.S. Department of Agriculture (USDA) and the other against the Department of the Interior. In the first case, tens of thousands of black farmers - or at least blacks claiming to have been farmers - will receive $1.15 billion for alleged discrimination during 1981-96 at the hands of administrators of USDA aid programs, but who filed (or could have filed) claims after the deadline. This would be on top of the more than $1 billion that over 15,000 other plaintiffs have received. In the second case, an estimated 300,000 to 500,000 Indians will receive access to a $3.4 billion trust fund intended to rectify alleged Interior Department mishandling of royalty payments for the extraction of oil, gas, timber and other natural resources from tribal lands for economic activity. The Senate on November 19 unanimously had approved the settlements.

Don't Pop the Corks for GM Just Yet

Most news we hear regarding General Motor's IPO this week proclaim the event as a huge success.  It would be prudent to consider whether the process leading up to and following the auto industry restructuring should be a template for future restructurings, as Al Koch (head of Motors Liquidation or "Old GM") has stated. While some may argue the positive aspects of the GM bailout, it is more than just sour grapes or GM hating that contributes to a desire to have a continuing dialogue on the precedent setting procedures that may lead to a subversion of contract law that has governed for over 200 years in this country.

Did SEIU Ballot Fraud Play Role in Harry Reid Re-Election?

Harry Reid photoVotes without voters - the notion seems like something from "The Twilight Zone." Yet this outcome, the result of a mysterious computer glitch, may have helped re-elect Senate Majority Leader Harry Reid over his Republican challenger, Sharron Angle, last week by a 50.2%-44.6% margin. Actually, the "mystery" is very likely the doing of a local of the Service Employees International Union (SEIU), which nationwide provides votes, money and muscle for the Democratic Party. Critics are charging that voting machines throughout Clark County (Las Vegas), where about three-fourths of Nevada's population resides, were rigged to place check marks next to Reid's name before a person even had voted. County officials insist that no tampering occurred. But the possibility can't be dismissed, especially given that one of Reid's sons is county commission chairman.

Google Lobbied White House on FTC Privacy Policy; Was Fix In on WiSpy Probe?

Obama Schmidt photoYesterday we reported that the FTC's decision to close its investigation into the Google WiSpy affair came less than a week after President Obama attended a $30,000-plate fundraiser at the California home of senior Google executive Marissa Mayer. It also came four days after Google, after months of denials, admitted for the first time that its "Street View" video cameras were intercepting emails, passwords and website addresses sent by unsuspecting Internet users.

Now we've learned that on September 28, 2009, Becky Burr, a Google lobbyist at Wilmer Hale, emailed White House officials Susan Crawford and Andrew McLaughlin asking for a meeting to request the White House's assistance in urging the Federal Trade Commission to back off on privacy. Her email reads in part:

Google Execs Raise Money for Obama as FTC Drops Probe

Obama Schmidt photo

From the White House blog yesterday:

As special interest billionaires continued to pour secret donations of millions of dollars each into front groups supporting Republicans, we asked the obvious question: "What do they expect in return?

Congressional Republicans have made clear that lobbyists have a seat at the table even when they are formulating their party's broader strategy and governing vision.

People in glass White Houses shouldn't throw stones. Consider these recent news items:

Google is 100% Hypocritical By Paying 2.4% Tax Rate

Obama Schmidt photo

According to Jesse Drucker of Bloomberg today:

Google Inc. cut its taxes by $3.1 billion in the last three years using a technique that moves most of its foreign profits through Ireland and the Netherlands to Bermuda.

Google’s income shifting -- involving strategies known to lawyers as the “Double Irish” and the “Dutch Sandwich” -- helped reduce its overseas tax rate to 2.4 percent, the lowest of the top five U.S. technology companies by market capitalization, according to regulatory filings in six countries.

Of course, Google executives were among Barack Obama largest campaign contributors. CEO Eric Schmidt stumped for candidate Obama, and he and other senior executives contributed $150,000 to help pay for the inaugural celebration.

Government Motors' Chevy Volt Sparks Criticism

Volt logoInformation about General Motors' Chevy Volt surfaced last week that caused the blogosphere to light up. It seems that the much-hyped Volt is technically a hybrid vehicle as opposed to a true electric car since at certain acceleration points it relies on a gas powered engine to assist its electric powertrain. This comes after three years of GM touting the Volt as a "one of a kind, all-electrically driven vehicle."  Sites such as Edmunds' Insideline.com proclaimed that "GM Lied: Chevy Volt is Not a True EV." There appears to be a disturbing picture developing at GM of a government owned corporation that is fostering a culture of deceit in order to generate public acceptance.

CNBC: Flaherty Says Bailouts Fuel Wall Street Pay

Today I debated Wall Street pay with Keith Boykin of The Daily Voice. CNBC hosts were Melissa Francis, Larry Kudlow and Trish Regan. Here is a transcript:

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