From the category archives:

Congress

Geithner Goes to Congress, Obama Goes Online

March 26, 2009

The G-O team of Secretary of Treasury Timothy Geithner and President Barack Obama were the stars of today’s showtime. Secretary Geithner once again faced questions before the House Financial Services Committee, this time about reform: “To address this will require comprehensive reform,” Geithner said in prepared testimony for a House Financial Services Committee hearing. “Not [...]

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Two Wrongs Do Not Make a Right

March 22, 2009

The Democratic Party is acting like the ass that represents them.  Who could have imagined that Congress, both the House and the Senate, could squander the opportunity to lead our nation into a better place? Well, this week we have seen the heavily Democratic dominated Congress act like the ringmasters of their own three ring [...]

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More Bonuses and Unpaid Corporate Taxes

March 20, 2009

Following the AIG bonus bungle, it is now reported that Fannie Mae is set to write bonus checks into the millions of dollars. And reports surfaced that beleaguered mortgage giant Fannie Mae was set to pay millions in retention bonuses — the very sort of payouts that has fueled condemnation of AIG all this week. [...]

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House Taxes AIG Bonuses Back to Taxpayers

March 19, 2009

By a vote of 328-93, the House of Representatives voted to tax the AIG bonuses totally $165 Million by 90%.  It was nothing short of a two-ring circus in the House as the Republicans held dominated one ring and the Democrats the other.  Finally, due to the majority of votes being held by Democrats, Republicans [...]

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Edward Liddy Faces House Finance Subcommittee

March 18, 2009

Like everyone else in the country I am angry about the AIG retention bonuses.  But… As I watched the first part of Edward Liddy’s testimony before the House Finance Subcommittee today, I was struck with a feeling of embarrassment.  Oh, I’m not going to say I have changed my mind on the bonuses.  I haven’t.  [...]

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Peanut’s Parnell Pleads Fifth Amendment Protection

February 11, 2009

Okay, so when I got up this morning I was torn between watching the Congressional hearings on the peanut salmonella case and watching eight bank CEO’s get a good grilling by another Congressional committee. I turned to the Congressional committee hearing on the peanut case first, wanting to get my first look at Stewart Parnell, [...]

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Rep. Gary Ackerman (D-NY) Burns SEC GC Andy Vollmer a New One

February 4, 2009

The second panel of the day before the House Finance Committee lived up to expectations. Perhaps, Representative Gary Ackerman (D-NY) lit the first brigade of fireworks. In fact, he came to the hearing with a rocket propelled grenade launcher. Andy Vollmer, the General Counsel for the SEC, took direct hits. It was announced that Mr. [...]

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Lilly Ledbetter Fair Pay Bill

January 27, 2009

The Lilly Ledbetter Fair Pay Act has rolled from the House to the Senate and back to the House.  After a vote today, the Lilly Ledbetter Fair Pay Act will be the first bill signed into law by President Barack Obama. Although there was discussion and arguments on both floors in the Capitol, the final [...]

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Political Influence and the TARP Program

January 22, 2009

If anyone thinks the TARP program under Henry Paulson’s guidance was not steered by political influence, think again. According to the Wall Street Journal politicians in Washington, some of the same ones who have been on a Paulson TARP bash recently, received what some may call special treatment for banks in their districts. …in December OneUnited [...]

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Pay Raise for Congress?

January 6, 2009

Are you unemployed or working a second job to make ends meet?  Facing foreclosure?  Applying for the SNAP (foodstamps) program for the first time?  Well, obviously you are not a member of Congress! It seems that Congress feels they need a pay raise.  Apparently, the members have trouble living on the approximate $169,000 income they [...]

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