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01/18/2011 - 13:03

Rep. Steve King photoWhen Congress last November approved $1.15 billion to settle residual claims of racial discrimination by black farmers against the U.S. Department of Agriculture (USDA), supporters lauded the vote and President Obama's signature the following month. This, they said, was justice belatedly done. Yet critics justifiably have argued that the class-action suit rests on an edifice of fraud. One of them, a member of Congress, Rep. Steve King, R-Iowa, is taking action. He's lined up a pair of unnamed witnesses, one a black farmer and the other a longtime USDA employee, willing to tell all. Early this month, Rep. King announced these individuals indicated a willingness to reveal to Congress that plaintiffs' attorneys engaged in an unscrupulous campaign to sign up co-plaintiffs, many of whom never farmed in their lives. The issue now is whether he can persuade his colleagues to hold a hearing.

5,839 reads
01/14/2011 - 13:27

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.

4,125 reads
01/13/2011 - 14:30

autoworkerThe New York Times reports that the auto industry "overhaul" (AKA General Motors' bankruptcy) is about to "pay off handsomely" for UAW workers at GM. GM, along with Ford, is expected to announce profit-sharing checks for hourly workers this month. UAW president, Bob King, states that workers expect to get a piece of GM's profits.

6,618 reads
01/11/2011 - 17:05

Top TenOrganized labor, masters of aggressive politics, had its share of triumphs in 2010. With Democrats, their natural ally, the previous year having taken control of the White House and the Senate while increasing their advantage in the House, this was to be expected. AFL-CIO President Richard Trumka and other union officials used their window of opportunity to pressure Congress into passing a health care overhaul mandating unprecedented degrees of government intrusion, and by extension, major opportunities for unionization of the health care labor force. They also secured key presidential appointments.

10,999 reads
01/11/2011 - 15:41

Would a cut in the corporate tax rates really help create jobs? I debate this question today with David Callahan of Demos. CNBC hosts are Tyler Mathison, Sue Herera and Michelle Caruso-Cabrera. Here's a transcript:

3,497 reads
01/10/2011 - 03:53

UAW/GM logosThe positive news on GM has been so rampant that many risks factors to share price have been overlooked. It is tough to get unbiased opinions since most analysts work for the GM underwriters and TV networks receive millions of dollars from GM ad revenue. While GM has much good news to discuss, the very obvious risk factor of share dilution to benefit the UAW has not been mentioned.

Here are the facts regarding GM's plans for diluting shares in order to make a $2 billion contribution to the UAW benefits fund in GM Investor Relations' own words:

4,187 reads
01/06/2011 - 17:08

William Daley photoIt looks like the "Chicago Way" will continue with William Daley taking the White House Chief of Staff position formerly held by Rahm Emanuel. Daley is a particularly poor choice because he represents the nexus of big government, big business and the left-wing activist groups they enable and bankroll.

Daley is not a "centrist," nor is he "pro business," except when he is getting a piece of the action. Daley has carried the title of "Midwest Chairman" of JPMorgan Chase but he is not a banker or a businessman. He is a broker of influence. That is why JPMorgan Chase hired him in the first place.

2,826 reads
01/04/2011 - 17:08

NYC snowstormNew York City residents finally are digging out of a devastating post-Christmas blizzard, aided by unexpectedly warmer weather. But a growing number are sounding as if they want to use their shovels against union snowplow workers and their supervisors. Various news outlets have reported that leaders of the Service Employees-affiliated Sanitation Officers Association ordered their Teamsters-affiliated work crews to slack off as a protest against recent City Department of Sanitation budget cuts and demotions. The apparent work slowdown not only paralyzed traffic, but also led to two deaths and any number of commuters trapped overnight in subway cars. On the hot seat, Mayor Michael Bloomberg has demanded, and is getting, a full investigation. Union leaders deny culpability, insisting fiscal austerity had reduced manpower. But evidence appears to undercut such claims.

8,053 reads
01/04/2011 - 10:23

The past few days have seen an approximate 7% rise in General Motors' Stock.  Much of this gain is attributed to Wall Street investment banks initiating positive coverage on GM. A further review of the coverage reveals a wide divergence in opinion between big banks that are profiting from the GM IPO and analysts who did not.

3,086 reads
01/02/2011 - 15:13

Mollohan photoEthics groups are wondering whether the U.S. Department of Justice has become skittish when it comes to investigating members of Congress, after numerous congressional corruption investigations were closed without trial last year, reported the New York Times.

Since the department's case against the late Rep. Ted Stevens (R-AK) notoriously fell apart two years ago, officials have halted at least five other corruption investigations against high-profile congressmen, including Rep. Don Young (R-AK) and Rep. Alan B. Mollohan (D-WV), in photo.

4,076 reads
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