Ruling in Perry Capital Appeal Shackles Fannie Mae/Freddie Mac Shareholders

One buys stock with an understanding that the rules affecting profit and loss won’t change without warning. The U.S. Court for Appeals, District of Columbia Circuit, apparently believes otherwise. On February 21, the court ruled 2-1 that investors in shares of secondary residential mortgage lenders Fannie Mae and Freddie Mac, as managed by Perry Capital LLC, a New York hedge fund, have no right to realize their accrued profits. The decision continues the federal conservatorship of the two companies established in 2008. The case was triggered by the “sweep rule” issued by the Treasury Department in August 2012. That rule confiscated dividends as repayment for $187.5 billion in emergency loans even though the corporations have repaid far more than that. The case, one of many such suits, is a lesson on the perils of government bailouts.

National Legal and Policy Center on many occasions has analyzed the Fannie Mae and …

Ex-NY State Senator John Sampson Gets 5 Years

Former New York State Senator John Sampson, a Democrat of Brooklyn, was sentenced yesterday to five years in prison following his conviction in July 2015 on three counts, including obstruction of justice.

In 2009, Sampson was elected Leader of the Democratic Conference of the State Senate. He served in leadership alongside former Majority Leader and Temporary Senate President Malcolm Smith, who is serving a seven-year prison sentence after his 2015 conviction on corruption charges.

Between 1998 and 2008, Sampson allegedly embezzled approximately $440,000 from the foreclosure sales of four Brooklyn properties on which he was a court-appointed referee. The embezzlement charges were thrown out because the state of limitations expired. The charges on which he was convicted relate to the cover-up.

Reportedly, the Sampson investigation was an extension of the investigation of U.S. Representative Gregory Meeks (D-NY), prompted by newspaper headlines based on information provided by the National Legal …

Sharpton Washington March Offers Preview of Political Intimidation

When it comes to organizing rallies on short notice, Al Sharpton has few peers. The ability of Reverend Al to generate a crowd through his New York City-based nonprofit National Action Network (NAN) was in evidence last Saturday morning, January 14, in the nation’s capital. Billed as the “We Shall Not Be Moved March on Washington,” the rain-soaked event (see photo) drew thousands of participants, overwhelmingly black, many of whom arrived by chartered bus. The stated purpose of this grievance convention, timed for Martin Luther King Day and the Donald Trump inauguration, was to pressure Congress into resisting the new administration. Accordingly, the march offered a platform for ritual denunciations of enemies of blacks, Hispanics, gays and other “disenfranchised” groups, and calls for new laws to protect their members. If lawmakers are smart, they’ll take a pass.

Al Sharpton for more than a decade has become a political player of …

Speaker Ryan Must Stop Sneak Attack on Office of Congressional Ethics

ryanSome House Republicans — apparently led by Rep. Robert Goodlatte (R-VA) — are attempting to emasculate the Office of Congressional Ethics (OCE). The House Conference reportedly voted last night 119-74 to place control of OCE under the Ethics Committee, effectively destroying it. The full House is scheduled today to vote on the larger Rules package of which Goodlatte’s amendment is part.

This is an incredibly stupid start to the new Congress, and badly undercuts President-elect Trump’s efforts to “drain the swamp.”

Media reports suggest that Speaker Paul Ryan opposed the move, but there have been reasons for skepticism about the House leadership’s commitment to OCE. It doesn’t matter what happened last night. It is now up to Ryan to save OCE. He must act with strength and decisiveness.

OCE was established in 2008 and is slightly more independent that the Ethics Committee because its board is comprised of former members …

Jury Convicts Thug of Shooting Two Cops at Protest; Obama Justice Department Enabled Attack

barack-obama-eric-holder-loretta-lynchThe violence may be a memory, but there is now a welcome reminder of the consequences. Last Thursday, December 8, a St. Louis County, Mo. jury found a young black male, Jeffrey Williams, guilty on six criminal counts related to the malicious gun wounding of two unnamed police officers in the St. Louis suburb of Ferguson in March 2015. The incident occurred during a street rally organized by the radical social media network, Black Lives Matter, to protest the shooting death of an “unarmed” black male, Michael Brown, by a white Ferguson cop the previous August. A grand jury months later had decided the evidence was insufficient to indict the officer, an announcement that triggered destructive rioting. Reprehensible as the rioting and shootings were, the Obama administration tacitly encouraged this behavior.

If any one event underscores the futility of achieving a ‘post-racial’ society in contemporary America, the death of Michael …

Prosecuting Clintons Should Be Law Enforcement Decision, Not Trump’s

hillarylookingsmugThe Daily Signal included this reaction to President-elect Trump’s hints yesterday that he is backing away from further legal pursuit of the Clintons:

“It was a premature decision [not to continue investigating Clinton] because we don’t know what evidence on the email server or Clinton Foundation will emerge,” said Peter Flaherty, president of the National Legal and Policy Center, a conservative watchdog group, told The Daily Signal.

“It shouldn’t be the call of the White House anyway, but should be left up to the new attorney general—and IRS commissioner—whether to investigate,” Flaherty continued, noting the IRS should look into the nonprofit status of the Clinton Foundation. “Prosecuting Hillary might seem like piling on from a political sense, but if she broke the law, this is a decision that should be left to law enforcement.”

NLPC has exposed through the media four separate instances of apparent pay to play involving the …

Hillary Did Not Disclose ‘Expensive Gifts’ in Violation of Ethics in Government Act

hillarylookingsmugIn a 2011 memo published by Wikileaks, Clinton underling Doug Band described how he secured hundreds of thousands of dollars in free travel and gifts for Bill Clinton and his family. While Secretary of State, Hillary Clinton did not disclose any gifts or free travel, as required.

The gifts were first reported by Alana Goodman in the Daily Mail:

‘In support of the President’s for-profit activity, we also have solicited and obtained, as appropriate, in-kind services for the President and his family – for personal travel, hospitality, vacation and the like,’ wrote Band in the Nov. 16, 2011 memo to attorneys conducting an internal review of the Clinton Foundation.

Band is emerging as a tortured soul. Beset by “spoiled brat” Chelsea Clinton, he had to grapple with the ethics conflicts that were so rife in the Clinton camp. In the memo, Band complained that Bill did not have to …

Support for FBI Wife Looks Like ‘Payoff’; Hillary Clinton Headlined Fundraiser for McAuliffe Group

G-Man Andrew McCabe and wife on campaign trail
G-Man Andrew McCabe and wife on campaign trail

Alana Goodman in the Daily Mail reports that Hillary Clinton headlined a 2015 fundraiser for a group called Common Good VA that brought in $1 million shortly before the political committee bankrolled a Virginia state Senate candidate who is married to the FBI agent who oversaw of the Clinton email investigation.

In addition, Common Good VA received big donations from Clinton loyalists including then-Clinton Foundation operative Doug Band who wrote a personal check of $50,000.

The story adds important new details to the original October 24 report in the Wall Street Journal that Common Good VA headed by Virginia Governor Terry McAuliffe was the largest single donor the unsuccessful 2015 campaign of Dr. Jill McCabe, wife of Andrew McCabe, now FBI deputy director.

From the Daily Mail:

The National Legal and Policy Center, a Virginia-based government watchdog group, said the financial

Hillary Fundraiser Partnered With Kirchner’s Money Launderer

kirchners-lootIn the Observer, investigative reporter Ken Silverstein details how a prominent Hillary Clinton fund raiser named Freddy Balsera was partners in a company called Global Development Consultants with an Argentine named Carlos Molinari, who is a key figure in a scandal involving Cristina Kirchner, the former president of Argentina. While president, Kirchner received tens of millions in kickbacks on government contracts and moved the cash out of the country. Prosecutors believe that much of the loot ended up in Florida.

From the article:

Curiously, in May 2011 Global Development Consultants and another firm formed an LLC called Stambul Ventures to manage the luxury Langford Hotel in downtown Miami. Molinari’s divorce records, which included a list of his assets, and Florida corporate records show that he had an interest in the property as well.

The Langford’s developers raised millions — 35 percent of the total costs — through

Presidential Candidates Asked to Adopt Ethics Code for Transition

whitehouse_historypgA variety of ethics groups and activists, including NLPC, came together today to ask Hillary Clinton and Donald Trump to commit to a Code of Ethical Conduct for their transition teams should they win the election. The proposed Code is based on the Code adopted by the 2008 Obama transition operation with important revisions. Here is the complete text of our request:

Ethics in government is a dominant issue in your campaigns for president. Members of both parties agree it is of paramount importance that the public believe their leaders make decisions solely to advance the public interest.

A key aspect of ethical governance is hiring the right staff and making sure your expectations for their behavior is clear. In 2008, then-Senator Obama required his transition team to agree to a code of ethical conduct as a condition of service. His approach to ethics in the transition is a good …

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