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07/22/2010 - 16:38

General Motors will acquire auto-finance company AmeriCredit for $3.5 billion. I discuss the deal with Rebecca Lindland of IHS Automotive, and CNBC hosts Melissa Francis, Larry Kudlow and Amanda Drury. Here's a transcript:

4,105 reads
Ken Boehm
07/22/2010 - 15:44

McLaughlin photoRecent email communication between White House Deputy Chief Technology Officer Andrew McLaughlin (in photo), who is Google’s former head of Global Public Policy, and multiple outside individuals raise new questions about the official’s alleged circumvention of federal ethics and recordkeeping rules.

McLaughlin’s communications with Google officials and others about issues that directly benefit the company appears to be more extensive than indicated by a May White House report, which resulted in an official reprimand of Mr. McLaughlin. Click here for a 12-page pdf of the McLaughlin emails.

17,761 reads
07/21/2010 - 12:58

Meeks photoEdul Ahmad, the Guyanese-born businessman who made an unsecured $40,000 loan to Rep. Gregory Meeks (D-NY), is today scrutinized by the New York Times and New York Post. Reporters started digging on Meeks after NLPC raised questions about the Queens congressman’s finances, beginning in January.

According to the New York Times piece by Danny Hakim:

3,860 reads
07/21/2010 - 11:39

Blagojevichs photoTo win a conviction in a criminal case requires establishing opportunity, means and motive. Recent testimony in the ongoing corruption trial of former Illinois Governor Rod Blagojevich reveals more than a few clues as to the motive part. Blagojevich and his wife, Patti, as it turns out, had about $200,000 in outstanding consumer debt at the time of his December 2008 arrest. Anxiety, if not desperation, over how to pay the money back was likely a major explanation for the ex-governor's eagerness to peddle President-Elect Barack Obama's soon-to-be-vacated Senate seat to the highest bidder. Worse, Mrs. Blagojevich's real estate firm during 2002-04 apparently received roughly $150,000 or more in suspect "consulting" and other fees from a company co-owned by Obama's original paymaster, now-jailed (and awaiting sentencing) real estate developer/political kingmaker Tony Rezko. The revelations reinforce the popular image of the couple as willing to do anything for money.

4,356 reads
07/21/2010 - 09:25

Soros photoFive-and-a-half years after being convicted of providing material support for terrorism, terror lawyer Lynne Stewart finally received a sentence commensurate with her crime. She was resentenced last week to ten years. But if George Soros had his way, she would be free today.

Stewart made a career out of defending street criminals and terrorists, including Sammy "The Bull" Gravano (pleaded guilty), Weather Underground terrorist David J. Gilbert (convicted), and Larry Davis (acquitted of wounding six policemen and killing several others in 1986, only to be convicted of a later murder and killed in prison). It should have come as no surprise that Stewart, who worked "less than a mile from where the World Trade Center once stood," represented "the Blind Sheikh" Omar Abdel Rahman.

5,627 reads
07/19/2010 - 10:47

Meeks photoAt the same time that Guyanese-born businessman Edul Ahmad gave Rep. Gregory Meeks (D-NY) an unsecured $40,000 personal loan, he was pleading poverty to state authorities who had suspended his real estate license, according to Isabel Vincent and Melissa Klein in yesterday’s New York Post.

Meeks failed to report the 2007 loan on his annual financial disclosure report, that all member of Congress are required to file, until June of this year after the FBI reportedly started asking questions about the loan. Meeks has repeatedly referred to Ahmad as his “friend,” but when asked by the New York Post last month what his relationship was with Meeks, Ahmad said, “I have none.”

3,025 reads
07/17/2010 - 11:03

Massa photoBrian Tumulty of Gannett reports that former Rep. Eric Massa (D-NY) put his wife on his campaign payroll after he resigned from Congress and after he ceased to be a candidate for re-election. According to Massa’s quarterly report to the Federal Election Commission (FEC), Beverly Massa received $34,214 for April through June for serving as campaign treasurer, even though she was not paid for previously serving in the position.

Tumulty also reports that Massa paid for airfare, hotels, and meals at restaurants like Morton’s out of the campaign fund. Massa’s continued looting of leftover campaign funds is baffling given the scrutiny he is already under.  As Tumulty reports:

3,128 reads
07/16/2010 - 12:56

Today I discussed BP’s capping of the well and whether BP shareholders should be punished with Dan Weiss of the Center for American Progress, and CNBC hosts Larry Kudlow and Trish Regan. Here is a transcript:

2,798 reads
07/15/2010 - 19:06

Lloyd Blankfein photoGoldman got to keep 100% of what it really wanted, namely the ability to cling to its claim that if did nothing wrong. 

It did acknowledge a “mistake” for not telling CDO buyers that hedge fund operator John Paulson helped booby-trap the security before it was sold. It is common for the SEC settle Wall Street cases without an admission of guilt, but is not typical for it to allow the accused party to do but at the same time admit to a “mistake.” That’s how it works when your political influence permeates the government. You get to deny wrongdoing at the same time you admit to wrongdoing.

1,803 reads
07/15/2010 - 17:06

Scott Brown photoOn the evening of Scott Brown’s election, I wrote that among the reasons for his victory was resentment of “a host of actions to prop up Wall Street firms at the expense of taxpayers.”

Who would have thought that less than six months later Brown would cast the decisive vote in favor of legislation that institutionalizes Wall Street bailouts, and whose sponsors — Christopher Dodd and Barney Frank — played key roles in bringing on the meltdown, not to mention representing everything that is sleazy and corrupt about Washington. If Brown wasn’t running against Barney Frank when he railed against the “machine,” then what was he talking about?

3,215 reads
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