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Post by jeffolie on Nov 7, 2011 11:30:01 GMT -6
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Post by unlawflcombatnt on Nov 7, 2011 20:31:25 GMT -6
I saw that one, too.
What most of it amounts to is outright bribery. When you give someone in Government a gift that has direct monetary value to that someone, it's a bribe. A ticket to a sports match, a trip, a dinner---they're all bribes by anyone's definition.
I wasn't really aware until I saw Abramoff's piece how direct and overt the bribery was. (I'd thought it was more about campaign contributions, not about direct gifts to Government officials & representatives.)
These are prosecutable offenses, if any prosecutor felt like prosecuting them.
But that's the rub. Prosecutors are NOT interested in going after the bribers or the bribees. They'd rather go after those with less societal standing and less ability to fight the charges.
This whole scenario exemplifies how corrupt and unjust our legal system is.
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Post by jeffolie on Nov 12, 2011 11:43:45 GMT -6
Americans despise Congress, OWS dispise income/wealth inequality, Obama trades taxpayers money used to pay for $billions in federal contracts to donors... 'no one is above the law' does not apply to despicable Congress: ".... Generally, however, legal analysts say that Wall Street insider trading laws do not apply to Congress. As an open and public institution, the legal assumption has long been that any member of the public can have access to information about how Congress works. In practice, though, that's simply not true, as powerful members of Congress come into contact daily with market-moving tidbits. That gap between the law and the reality has made Capitol Hill a virtual free-fire zone for insider trading .... " www.cnbc.com/id/45249857?__source=google|editorspicks|&par=google" ... Abramoff has been making the rounds, speaking with the media this week, to promote his new book, "Capitol Punishment: The Hard Truth About Washington Corruption From America's Most Notorious Lobbyist," which went on sale Monday. www.cnbc.com/id/45249857?__source=google|editorspicks|&par=google".... Abramoff said that the most valuable type of information for Congressional insider trading is held by congressional investigators who pry deeply into corporate goings on. A particularly easy target is advance knowledge of the announcement of an investigative hearing into a company. www.cnbc.com/id/45249857?__source=google|editorspicks|&par=google ============================================= Congress Members Took Part in Insider Trading: Abramoff As many as a dozen members of Congress and their aides took part in insider trading based on foreknowledge of market moving information on Capitol Hill, disgraced Washington lobbyist Jack Abramoff told CNBC in an interview. Abramoff, who was once one of the wealthiest and most powerful lobbyists in Washington before a corruption scandal sent him to federal prison for more than three years, said that many of those members of Congress bragged to him about their stock trading prowess while dining at the exclusive restaurant he owned on Pennsylvania Avenue. But Abramoff, whose black trench coat and fedora became one of the most notorious images in recent Washington history after his fall from grace, said he didn't play the stock market himself — he considered it an inherently unfair "casino" in which the house had far more information than the players. Abramoff made most of his fortune representing — and, as it turned out, duping — Native American tribes rich with cash from casino operations. This cnbc.com story from Friday morning has a 3:21 video interview with Jack Abramoff imbedded in it, link: www.cnbc.com/id/45249857?__source=google|editorspicks|&par=google
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Post by jeffolie on Mar 22, 2012 7:12:15 GMT -6
"revolving door" corruption typically goes like this: a govt type get corrupt paydays for making favorable results to a corporation, group, industry, etc when after leaving govt the corrupt govt type gets a job that outrageously pays a high salary and/or benefits from the corporation, group, industry, etc.... high pay after leaving office The govt type is not limited to elected officials and may include civil servants making contracts or policies. Most all civil servants are not corrupt IMHO. my jeffolie threads on the "revolving door" corruption series now gets an update with the below piece documenting how high the payday for this corruption goes for US Congressional staffer. 10-20 fold Raise as Lobbyist: US Congressional staffer's revolving door corruption Republic Report is a blog dedicated to rooting out the corruption that is so corrosive to American values. We will investigate and uncover the buying and selling of politicians and of institutions entrusted with upholding the public interest. We will expose how big money distorts major policy decisions – harming our economy and our people. www.republicreport.org/about/=================================== Banking Committee Policy Advisor Scott Eckel: “I will begin work in my new role as Vice President, Legislative and Regulatory Affairs, at Charles Schwab & Co” Matt Stoller 3.21.2012 at 2:39 PM Just got this email. From: Eckel, Scott Sent: Wednesday, March 21, 2012 1:09 PM Subject: New Opportunity Friends and Colleagues – Wanted to let you all know that this Friday will be my last day with Chairman Garrett and the Capital Markets Subcommittee. As of Monday, March 26th, I will begin work in my new role as Vice President, Legislative and Regulatory Affairs, at Charles Schwab & Co. It has been a real privilege to work for Mr. Garrett and with all of you over the last three years, and I look forward to opportunities to continue working with you and keeping in touch in my new role. My new contact information as of Monday is below. e-mail: scott.eckel@schwab.com Phone: [REDACTED] With warm regards, Scott Scott Eckel Senior Policy Advisor Chairman Scott Garrett Subcommittee on Capital Markets and GSEs 2244 Rayburn HOB Scott Garrett is the Chairman of one of the most powerful subcommittees in Congress – Capital Markets, which is part of the Financial Services Committee. This subcommittee handles Fannie and Freddie, banks, credit markets – roughly $10-20 trillion of assets and liabilities. Garrett is known as a close ally of Bank of America, and his legislative track record maps up nicely with that bank’s interests. What’s striking about this email is not the corruption or brazenness of the language, but the very normal-ness of it. It’s routine. This is simply how it works. This is the career path. You go onto the Hill, you make policy for a time, and then you leave and join a company you used to oversee for a multiple of the salary you used to earn. In 2011, Eckel earned around $129,000, which makes him a “senior staffer” (a technical term which means he trips certain lobbying disclosure requirements). He’ll probably get 2-10 times what he earned in his new job. And don’t worry, he’ll be in touch. www.republicreport.org/2012/banking-committee-policy-advisor-scott-eckel-i-will-begin-work-in-my-new-role-as-vice-president-legislative-and-regulatory-affairs-at-charles-schwab-co/
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