The AP reports the following two stories, which I find of interest:
The fundraiser for Hillary Clinton, later for Obama and previously for John Kerry has been indicted on bank fraud and aggravated identity theft charges in an $292 million Ponzi scheme. The accused, is Hassan Nemazee, he is charged with fradulently obtaining loans from three banks.
Nemazee was Clinton’s national finance chairman for her 08 campaign, later raised dough for Obama and was Kerry’s finance chairman during Kerry’s 2004 campaign.
Wow, and we thought Clinton, Obama and Kerry had nothing in common. Go figure.
Forty members of the Senate (all but one, Repulbicans) are pushing to end the bailout nightmare by urging the Treasury Secretary to let T.A.R.P. program expire by year’s end. No word from the Treas Sec yet, and he could let it go on until Oct 2010. The group of Senators pointed out in a letter to Geithner that the money could be used to reduce the deficit (fancy that) among other things.
According to the AP story:
Every Senate Republican except Sen. Judd Gregg of New Hampshire signed the letter. The only Democrat to sign it was Mark Begich of Alaska.
Congress approved the TARP with bipartisan support in October 2008 at the request of then-President George W. Bush during the height of the financial crisis. Bush administration officials initially said the money would be spent to buy up bad assets from financial institutions. Under Bush and Obama, however, the rescue fund has also been used to bail out the auto industry and to obtain ownership interests in banks and in insurance giant American International Group.
“This direct investment certainly was not the intention of Congress in passing this legislation,” the senators wrote to Geithner.
I’ll say that wasn’t the intention! At least you have to give them a little hurrah for trying – although I have a feeling it will fall on deaf ears.
And the picture…well, I have to have my fun, don’t I?