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Rangel found guilty (Update)

I appreciate Representative Rangel and his service but it now time for him to go.

From TPM:

The ethics committee has found that Rep. Charlie Rangel (D-NY) violated congressional ethics rules.

The committee ruled that Rangel was guilty on 11 counts. Rangel had been accused of 13 violations. On one, the committee was deadlocked. The committee dismissed another charge, rolling it into one of the others.

The subcommittee that found the violations will now forward the convictions to the full ethics committee. The full committee will then hold another hearing, during which it will vote on whether to recommend a punishment for Rangel. If they do, they will send that recommendation — be it admonishment, censuring, expulsion or otherwise — to the full House for a vote.

The violations stem from four different actions: Rangel used official Congressional resources to raise funds for an educational center in his name; he failed to report taxable income on a rental villa in the Dominican Republic; he filed inaccurate financial disclosure forms; and he used a rent-controlled apartment in Harlem as a campaign office. (more…)

I saw this cartoon and I had to add it.

By ecthompsonmd|2010-11-18T19:36:55-04:00November 18th, 2010|Domestic Issues|Comments Off

Oh, Tim, this is all so Bush-Cheney

It is hard to figure how Timothy Geithner, who is charged with cleaning up Wall Street, will be cleaning up anything.

From Bloomberg:

Some of Treasury Secretary Timothy Geithner’s closest aides, none of whom faced Senate confirmation, earned millions of dollars a year working for Goldman Sachs Group Inc., Citigroup Inc. and other Wall Street firms, according to financial disclosure forms.

The advisers include Gene Sperling, who last year took in $887,727 from Goldman Sachs and $158,000 for speeches mostly to financial companies, including the firm run by accused Ponzi scheme mastermind R. Allen Stanford. Another top aide, Lee Sachs, reported more than $3 million in salary and partnership income from Mariner Investment Group, a New York hedge fund.

As part of Geithner’s kitchen cabinet, Sperling and Sachs wield influence behind the scenes at the Treasury Department, where they help oversee the $700 billion banking rescue and craft executive pay rules and the revamp of financial regulations. Yet they haven’t faced the public scrutiny given to Senate-confirmed appointees, nor are they compelled to testify in Congress to defend or explain the Treasury’s policies. (more… )

How can you be one of the Untouchables when you surround yourself Wall Street dudes? I’m just askin’?

By ecthompsonmd|2009-10-15T15:02:49-04:00October 15th, 2009|Economy|Comments Off

Senator Ted Stevens never really had a chance. Bill Allen, VECO CEO, was convicted earlier. If a jury didn’t think that Bill Allen did anything wrong he wouldn’t have been convicted. Therefore, all of the prosecution had to do was to present almost the same material.

From WaPo:

Alaska Sen. Ted Stevens was convicted today of lying on financial disclosure forms to hide tens of thousands of dollars in gifts and renovations to his Alaska home that were financed mostly by a powerful business executive and his oil services company.

The verdict was announced just after 4 p.m. in a packed courtroom in U.S. District Court in Washington. Stevens (R) sat quietly as the jury foreman said the panel had reached a unanimous decision and found Stevens guilty on all seven counts of filing false financial disclosure forms.

Jurors, who re-started their deliberations at 9:30 a.m. today when a juror was replaced by an alternate, were somber as they walked into the courtroom to deliver the verdict and did not look at Stevens. No sentencing date has been set, and Stevens’s attorneys are expected to file motions seeking to have the verdict set aside. (more… )