"America for Sale: The Cost of Republican Corruption"
dem. party releases report detiling the culture of corruption, so, I'll just go ahead and download it, and report back. Meanwhile, of course
"House GOP calls corruption report corrupt"
of course.....
The Democratic Party: "Congresswoman Louise Slaughter released a 103 page (.pdf) report detailing the Republican culture of corruption and it's impact on the American people. "
Monday, February 27, 2006
Pump and Dump: Financial Fraud Theory
This is a very interesting discussion of corporate fraud- on the subject of tying fraud directly into the "values" of capitalism.
"Leading figures in fraud often surrounded themselves with people who were willing to collaborate in dubious activities. They often selected people who were drawn to risk-taking and the prospects of high rewards. Importantly, the ringleaders also created organizational routines and cultures that socialized people into going along with suspect activities. They used a mix of bribery and bullying to normalize corruption."
Pump and Dump: "In their new book, 'Pump and Dump: The Rancid Rules of the New Economy,' sociology professors Robert H. Tillman and Michael L. Indergaard say that recent corporate scandals such as Enron and WorldCom are symptoms of corporate governance problems that began in the 1990s.
Using a financial fraud theory called 'pump and dump,' corporate elite artificially inflated stocks and securities in order to sell their shares at higher prices, leaving any fall-out and responsibility on naive investors."
This is a very interesting discussion of corporate fraud- on the subject of tying fraud directly into the "values" of capitalism.
"Leading figures in fraud often surrounded themselves with people who were willing to collaborate in dubious activities. They often selected people who were drawn to risk-taking and the prospects of high rewards. Importantly, the ringleaders also created organizational routines and cultures that socialized people into going along with suspect activities. They used a mix of bribery and bullying to normalize corruption."
Pump and Dump: "In their new book, 'Pump and Dump: The Rancid Rules of the New Economy,' sociology professors Robert H. Tillman and Michael L. Indergaard say that recent corporate scandals such as Enron and WorldCom are symptoms of corporate governance problems that began in the 1990s.
Using a financial fraud theory called 'pump and dump,' corporate elite artificially inflated stocks and securities in order to sell their shares at higher prices, leaving any fall-out and responsibility on naive investors."
Alaska tie to prisoner transport???
this series of very strange reports on the seizure of planes, and ariad on "security Aviation in Anchorage suggests all sorts of erie things-
adn.com | alaska : Armory on jet sent tipster to feds: "'Come see what we have,' one of them told her, she recalled.
'They had it set up under the guise of a medevac, with a full bar in it, by the way,' she said. The cabin was comfortable, but they were also eager to show off what was under the cabin floor.
When they lifted the carpet and undid the hatch, she saw a compartment filled with weapons: guns on hangers, devices that looked like grenades or smoke bombs, flak jackets -- enough for a half-dozen men to hold off a sizable attacking force.
'They had enough handguns in there to stick in every single pocket they could ever think of,' she said. There were two heavy machine guns, the kind that usually mount on a tripod, and at least two belts of large-caliber ammunition for them. She saw assault rifles and ammo clips and silencers, she said.
She said she asked why they needed the weapons. 'They said that they were for whenever they transported dignitaries and they took prisoners,' she said. 'They said they worked for the government, and they took prisoners to interrogate them.'"
FAA flight records show the Gulfstreams have made flights to Asia, Europe and the Bahamas.
this series of very strange reports on the seizure of planes, and ariad on "security Aviation in Anchorage suggests all sorts of erie things-
adn.com | alaska : Armory on jet sent tipster to feds: "'Come see what we have,' one of them told her, she recalled.
'They had it set up under the guise of a medevac, with a full bar in it, by the way,' she said. The cabin was comfortable, but they were also eager to show off what was under the cabin floor.
When they lifted the carpet and undid the hatch, she saw a compartment filled with weapons: guns on hangers, devices that looked like grenades or smoke bombs, flak jackets -- enough for a half-dozen men to hold off a sizable attacking force.
'They had enough handguns in there to stick in every single pocket they could ever think of,' she said. There were two heavy machine guns, the kind that usually mount on a tripod, and at least two belts of large-caliber ammunition for them. She saw assault rifles and ammo clips and silencers, she said.
She said she asked why they needed the weapons. 'They said that they were for whenever they transported dignitaries and they took prisoners,' she said. 'They said they worked for the government, and they took prisoners to interrogate them.'"
FAA flight records show the Gulfstreams have made flights to Asia, Europe and the Bahamas.
Tuesday, February 21, 2006
Yet another all to common case of business-turns-to ponzi-scheme. Nice guy gone bad; more than 200 former customers who together lost millions when the company went bankrupt in 2003
DesMoinesRegister.com: "Once the broker of millions of dollars worth of real estate in Iowa and Nebraska, Wolford Sr. faces up to 165 years in prison after being found guilty of every count of felony fraud and theft filed against him � a total of 17. The former owner of the Wolford Group Inc. will be sentenced April 21 in Polk County District Court.
His son, Rod Wolford II, also faces possible prison time for his part in misleading scores of home buyers, sellers and investors as the now-defunct, family-owned business struggled from 2000 to 2003.
Wolford and his son once bought and sold hundreds of houses using high-risk land contracts that did not carry the same protections as traditional mortgages. Often, they sought to buy properties at low prices from people in distressed situations, and then sell them at much higher prices and interest rates to people with poor credit.
As the Wolfords' business floundered, witnesseses in the trial said, they began to "rob Peter to pay Paul," stealing mortgage settlement money to cover their payroll and growing debt. In the end, more than 200 people lost thousands of dollars, had their credit ruined, were sued by banks or kicked out of their homes.
"It's amazing to me that this could even happen with a buyer's money," said Polk County prosecutor George Karnas, who handled the case with two attorneys from the Iowa attorney general's office. "The Legislature needs to figure this out to make sure that the money gets to the right people."
With Wolford Sr.'s criminal trial over, the attorney general's office is now free to proceed with a consumer fraud lawsuit it brought against the Wolfords in the summer of 2003. Bob Brammer, a spokesman for the office, said attorneys will evaluate how best to move forward, given that the two men could wind up behind bars and that their company is bankrupt.
DesMoinesRegister.com: "Once the broker of millions of dollars worth of real estate in Iowa and Nebraska, Wolford Sr. faces up to 165 years in prison after being found guilty of every count of felony fraud and theft filed against him � a total of 17. The former owner of the Wolford Group Inc. will be sentenced April 21 in Polk County District Court.
His son, Rod Wolford II, also faces possible prison time for his part in misleading scores of home buyers, sellers and investors as the now-defunct, family-owned business struggled from 2000 to 2003.
Wolford and his son once bought and sold hundreds of houses using high-risk land contracts that did not carry the same protections as traditional mortgages. Often, they sought to buy properties at low prices from people in distressed situations, and then sell them at much higher prices and interest rates to people with poor credit.
As the Wolfords' business floundered, witnesseses in the trial said, they began to "rob Peter to pay Paul," stealing mortgage settlement money to cover their payroll and growing debt. In the end, more than 200 people lost thousands of dollars, had their credit ruined, were sued by banks or kicked out of their homes.
"It's amazing to me that this could even happen with a buyer's money," said Polk County prosecutor George Karnas, who handled the case with two attorneys from the Iowa attorney general's office. "The Legislature needs to figure this out to make sure that the money gets to the right people."
With Wolford Sr.'s criminal trial over, the attorney general's office is now free to proceed with a consumer fraud lawsuit it brought against the Wolfords in the summer of 2003. Bob Brammer, a spokesman for the office, said attorneys will evaluate how best to move forward, given that the two men could wind up behind bars and that their company is bankrupt.
U.S. church alliance denounces Iraq war: "The statement, issued at the largest gathering of Christian churches in nearly a decade, also warned the United States was pushing the world toward environmental catastrophe with a 'culture of consumption' and its refusal to back international accords seeking to battle global warming.
'We lament with special anguish the war in Iraq, launched in deception and violating global norms of justice and human rights,' said the statement from representatives of the 34 U.S. members of World Council of Churches. 'We mourn all who have died or been injured in this war. We acknowledge with shame abuses carried out in our name.'
The World Council of Churches includes more than 350 mainstream Protestant, Anglican and Orthodox churches; the Roman Catholic Church is not a member. The U.S. groups in the WCC include the Episcopal Church, the Presbyterian Church (USA), the United Methodist Church, several Orthodox churches and Baptist denominations, among others"
'We lament with special anguish the war in Iraq, launched in deception and violating global norms of justice and human rights,' said the statement from representatives of the 34 U.S. members of World Council of Churches. 'We mourn all who have died or been injured in this war. We acknowledge with shame abuses carried out in our name.'
The World Council of Churches includes more than 350 mainstream Protestant, Anglican and Orthodox churches; the Roman Catholic Church is not a member. The U.S. groups in the WCC include the Episcopal Church, the Presbyterian Church (USA), the United Methodist Church, several Orthodox churches and Baptist denominations, among others"
Where there's a system, there's a way to defraud it
unfortunately this is a terrible article, which seems to xoom in on the work "illegal immigrants" without exactly describing how this particular scheme worked- (see rest of article) did the immigrants actually want to buy houses? -instead of focusing on the incidents of actual blatent fraud- below, that feature selling of property the seller does not even own- the oldest scheme in the book.
Real estate fraud grows in Colorado - Denver - MSNBC.com: "In a major crackdown on mortgage fraud in Colorado, federal and state officials are aggressively prosecuting real estate agents, mortgage brokers and homeowners engaged in a wide range of real estate schemes. "
In November, Suthers began wrapping up a case that's indicative of the increasingly serious and costly threat to the lending and real estate industries. He obtained a statewide grand jury indictment against Raymond P. Morris that brought 141 felony counts in a scheme to allegedly defraud investors. Morris, according to Douglas County District Court records, allegedly promised lots on a parcel of land he didn't own in a residential area he called "Cherry Valley Land Development." Morris allegedly didn't develop the land and investors never received title to the properties for which they paid, with some 36 Coloradans losing about $2.5 million, investigators said.
The Douglas County Sheriff's Office and Division of Securitiews assisted with the investigation. Morris remained in jail on $250,000 bail and is set for arraignment on March 8.
Another alleged scheme Morris used to defraud investors was convincing them to lend money to third parties and offering promissory notes secured with forged deeds of trust to the third parties' homes. Those third parties, however, were never involved in the transaction and never received any of the money, Suthers said. Last summer, the Jefferson County District Attorney's Office filed a series of indictments against real estate agents who sold 41 homes allegedly using false documentation. The government-backed loans totaled $7.7 million and an indictment was filed against Lakewood real estate agent Patricia Soehnge, who allegedly received $197,000 in commissions.
In November, Suthers began wrapping up a case that's indicative of the increasingly serious and costly threat to the lending and real estate industries. He obtained a statewide grand jury indictment against Raymond P. Morris that brought 141 felony counts in a scheme to allegedly defraud investors. Morris, according to Douglas County District Court records, allegedly promised lots on a parcel of land he didn't own in a residential area he called "Cherry Valley Land Development." Morris allegedly didn't develop the land and investors never received title to the properties for which they paid, with some 36 Coloradans losing about $2.5 million, investigators said.
The Douglas County Sheriff's Office and Division of Securitiews assisted with the investigation. Morris remained in jail on $250,000 bail and is set for arraignment on March 8.
Another alleged scheme Morris used to defraud investors was convincing them to lend money to third parties and offering promissory notes secured with forged deeds of trust to the third parties' homes. Those third parties, however, were never involved in the transaction and never received any of the money, Suthers said. Last summer, the Jefferson County District Attorney's Office filed a series of indictments against real estate agents who sold 41 homes allegedly using false documentation. The government-backed loans totaled $7.7 million and an indictment was filed against Lakewood real estate agent Patricia Soehnge, who allegedly received $197,000 in commissions.
In November, Suthers began wrapping up a case that's indicative of the increasingly serious and costly threat to the lending and real estate industries. He obtained a statewide grand jury indictment against Raymond P. Morris that brought 141 felony counts in a scheme to allegedly defraud investors. Morris, according to Douglas County District Court records, allegedly promised lots on a parcel of land he didn't own in a residential area he called "Cherry Valley Land Development." Morris allegedly didn't develop the land and investors never received title to the properties for which they paid, with some 36 Coloradans losing about $2.5 million, investigators said.
The Douglas County Sheriff's Office and Division of Securitiews assisted with the investigation. Morris remained in jail on $250,000 bail and is set for arraignment on March 8.
Another alleged scheme Morris used to defraud investors was convincing them to lend money to third parties and offering promissory notes secured with forged deeds of trust to the third parties' homes. Those third parties, however, were never involved in the transaction and never received any of the money, Suthers said. Last summer, the Jefferson County District Attorney's Office filed a series of indictments against real estate agents who sold 41 homes allegedly using false documentation. The government-backed loans totaled $7.7 million and an indictment was filed against Lakewood real estate agent Patricia Soehnge, who allegedly received $197,000 in commissions.
unfortunately this is a terrible article, which seems to xoom in on the work "illegal immigrants" without exactly describing how this particular scheme worked- (see rest of article) did the immigrants actually want to buy houses? -instead of focusing on the incidents of actual blatent fraud- below, that feature selling of property the seller does not even own- the oldest scheme in the book.
Real estate fraud grows in Colorado - Denver - MSNBC.com: "In a major crackdown on mortgage fraud in Colorado, federal and state officials are aggressively prosecuting real estate agents, mortgage brokers and homeowners engaged in a wide range of real estate schemes. "
In November, Suthers began wrapping up a case that's indicative of the increasingly serious and costly threat to the lending and real estate industries. He obtained a statewide grand jury indictment against Raymond P. Morris that brought 141 felony counts in a scheme to allegedly defraud investors. Morris, according to Douglas County District Court records, allegedly promised lots on a parcel of land he didn't own in a residential area he called "Cherry Valley Land Development." Morris allegedly didn't develop the land and investors never received title to the properties for which they paid, with some 36 Coloradans losing about $2.5 million, investigators said.
The Douglas County Sheriff's Office and Division of Securitiews assisted with the investigation. Morris remained in jail on $250,000 bail and is set for arraignment on March 8.
Another alleged scheme Morris used to defraud investors was convincing them to lend money to third parties and offering promissory notes secured with forged deeds of trust to the third parties' homes. Those third parties, however, were never involved in the transaction and never received any of the money, Suthers said. Last summer, the Jefferson County District Attorney's Office filed a series of indictments against real estate agents who sold 41 homes allegedly using false documentation. The government-backed loans totaled $7.7 million and an indictment was filed against Lakewood real estate agent Patricia Soehnge, who allegedly received $197,000 in commissions.
In November, Suthers began wrapping up a case that's indicative of the increasingly serious and costly threat to the lending and real estate industries. He obtained a statewide grand jury indictment against Raymond P. Morris that brought 141 felony counts in a scheme to allegedly defraud investors. Morris, according to Douglas County District Court records, allegedly promised lots on a parcel of land he didn't own in a residential area he called "Cherry Valley Land Development." Morris allegedly didn't develop the land and investors never received title to the properties for which they paid, with some 36 Coloradans losing about $2.5 million, investigators said.
The Douglas County Sheriff's Office and Division of Securitiews assisted with the investigation. Morris remained in jail on $250,000 bail and is set for arraignment on March 8.
Another alleged scheme Morris used to defraud investors was convincing them to lend money to third parties and offering promissory notes secured with forged deeds of trust to the third parties' homes. Those third parties, however, were never involved in the transaction and never received any of the money, Suthers said. Last summer, the Jefferson County District Attorney's Office filed a series of indictments against real estate agents who sold 41 homes allegedly using false documentation. The government-backed loans totaled $7.7 million and an indictment was filed against Lakewood real estate agent Patricia Soehnge, who allegedly received $197,000 in commissions.
In November, Suthers began wrapping up a case that's indicative of the increasingly serious and costly threat to the lending and real estate industries. He obtained a statewide grand jury indictment against Raymond P. Morris that brought 141 felony counts in a scheme to allegedly defraud investors. Morris, according to Douglas County District Court records, allegedly promised lots on a parcel of land he didn't own in a residential area he called "Cherry Valley Land Development." Morris allegedly didn't develop the land and investors never received title to the properties for which they paid, with some 36 Coloradans losing about $2.5 million, investigators said.
The Douglas County Sheriff's Office and Division of Securitiews assisted with the investigation. Morris remained in jail on $250,000 bail and is set for arraignment on March 8.
Another alleged scheme Morris used to defraud investors was convincing them to lend money to third parties and offering promissory notes secured with forged deeds of trust to the third parties' homes. Those third parties, however, were never involved in the transaction and never received any of the money, Suthers said. Last summer, the Jefferson County District Attorney's Office filed a series of indictments against real estate agents who sold 41 homes allegedly using false documentation. The government-backed loans totaled $7.7 million and an indictment was filed against Lakewood real estate agent Patricia Soehnge, who allegedly received $197,000 in commissions.
Corruption affects the most basic human rights:
World water crisis worsened by corruption, repression: UN report - Irna: "Corruption, restricted political rights and limited civil liberties are all factors that lie behind the planet's growing water crisis, says a new UN report that focuses on the precious resource of fresh water.
The UN Educational, Scientific and Cultural Organization (UNESCO) said Monday that the second edition of the UN World Water Development Report shows the global water crisis is largely a crisis of governing systems that 'determine who gets what water, when and how, and decides who has the right to water and related services.'
The report will be released on March 9 in Mexico City by Gordon Young, Coordinator of the UN World Water Assessment Programme (WWAP), and Cristobal Jaime Jazquez, Director-General of the National Water Commission of Mexico, a press release issued by the UN Information Center (UNIC) said here Tuesday. "
World water crisis worsened by corruption, repression: UN report - Irna: "Corruption, restricted political rights and limited civil liberties are all factors that lie behind the planet's growing water crisis, says a new UN report that focuses on the precious resource of fresh water.
The UN Educational, Scientific and Cultural Organization (UNESCO) said Monday that the second edition of the UN World Water Development Report shows the global water crisis is largely a crisis of governing systems that 'determine who gets what water, when and how, and decides who has the right to water and related services.'
The report will be released on March 9 in Mexico City by Gordon Young, Coordinator of the UN World Water Assessment Programme (WWAP), and Cristobal Jaime Jazquez, Director-General of the National Water Commission of Mexico, a press release issued by the UN Information Center (UNIC) said here Tuesday. "
Saturday, February 18, 2006
Twenty-First Century face of Bobber Baron entrepreneurial capitalism- These guys use the tooks and techniques of todays technologies in ways that the big companies only dream about, and then sometimes pay for, so what if there is a little cheating? that's business, eh?
this s a great article, very long, somehwere around page 4 he gets to the kicker-
"In 2004, venture capitalists invested $40 million in 180solutions, fueling rapid growth. That year, 180 says, it raked in more than $50 million delivering online ads for some of America's best-known corporations, including JP Morgan Chase, Cingular, T-Mobile, Monster.com and Expedia.com. (Among the hundreds of companies that have placed ads through 180solutions is Kaplan University Online, which is owned by The Washington Post Co.)"
Invasion of the Computer Snatchers: "Company executives acknowledge they didn't begin addressing the fraud problems wrought by what 180 co-founder Dan Todd calls 'a few bad actors' until mid-2004. Dressed in worn-out jeans and an untucked dress shirt, 34-year-old Todd puts one foot up on the coffee table in his glass office and tries to explain how things spiraled so far out of control. 'At some point between dealing with legitimate distributors and these botnet guys who try real hard to look like good guys, we realized that something had gone terribly wrong and that our plan of outsourcing our relationship to the consumer had backfired,' Todd says."
this s a great article, very long, somehwere around page 4 he gets to the kicker-
"In 2004, venture capitalists invested $40 million in 180solutions, fueling rapid growth. That year, 180 says, it raked in more than $50 million delivering online ads for some of America's best-known corporations, including JP Morgan Chase, Cingular, T-Mobile, Monster.com and Expedia.com. (Among the hundreds of companies that have placed ads through 180solutions is Kaplan University Online, which is owned by The Washington Post Co.)"
Invasion of the Computer Snatchers: "Company executives acknowledge they didn't begin addressing the fraud problems wrought by what 180 co-founder Dan Todd calls 'a few bad actors' until mid-2004. Dressed in worn-out jeans and an untucked dress shirt, 34-year-old Todd puts one foot up on the coffee table in his glass office and tries to explain how things spiraled so far out of control. 'At some point between dealing with legitimate distributors and these botnet guys who try real hard to look like good guys, we realized that something had gone terribly wrong and that our plan of outsourcing our relationship to the consumer had backfired,' Todd says."
Friday, February 17, 2006
World Bank Changes Direction:
after years of ordering cuts to state spending which translated into cutting education and health care, does Bank finally admit their policies never worked?
Breaking Ranks at the World Bank: "The authors of the World Bank report, 'Poverty Reduction and Growth: Virtuous and Vicious Circle,' recognize that a country can't necessarily grow its way out of poverty, and that poverty can be a huge drag on economies and on growth. Poor regions lacking in infrastructure fail to attract investment. Poor families, faced with substandard schools and high costs, are less likely to invest in the education of their children. And, as has been particularly clear in recent years, countries unable to moderate income disparities face social tensions that jeopardize business. As the authors quantify it, when poverty levels increase by 10 percent, growth decreases by 1 percent and investment is reduced by up to 8 percent of a country's GDP.
Two of their main conclusions are a breakthrough for the Bank: that private sector growth is not a panacea for the poor and that inequality must be targeted directly. A third conclusion is almost heretical for the Bank: that the state needs to take on more economic responsibility than less. 'Converting the state into an agent that promotes equality of opportunities and practices efficient redistribution is, perhaps, the most critical challenge Latin America faces in implementing better policies that simultaneously stimulate growth and reduce inequality and poverty,' the report says."
after years of ordering cuts to state spending which translated into cutting education and health care, does Bank finally admit their policies never worked?
Breaking Ranks at the World Bank: "The authors of the World Bank report, 'Poverty Reduction and Growth: Virtuous and Vicious Circle,' recognize that a country can't necessarily grow its way out of poverty, and that poverty can be a huge drag on economies and on growth. Poor regions lacking in infrastructure fail to attract investment. Poor families, faced with substandard schools and high costs, are less likely to invest in the education of their children. And, as has been particularly clear in recent years, countries unable to moderate income disparities face social tensions that jeopardize business. As the authors quantify it, when poverty levels increase by 10 percent, growth decreases by 1 percent and investment is reduced by up to 8 percent of a country's GDP.
Two of their main conclusions are a breakthrough for the Bank: that private sector growth is not a panacea for the poor and that inequality must be targeted directly. A third conclusion is almost heretical for the Bank: that the state needs to take on more economic responsibility than less. 'Converting the state into an agent that promotes equality of opportunities and practices efficient redistribution is, perhaps, the most critical challenge Latin America faces in implementing better policies that simultaneously stimulate growth and reduce inequality and poverty,' the report says."
Shrinking Bubble?
sometime last summer I posted a few items wondering if the real estate frenzy was an actual bubble- so I feel obligated to update. It seems that the rush on yet to be built condos was indeed a bubble, fueled by speulators. Now that some are wanting their profit, of course the market is falling.
will this same scenario apply to a the rest of the housing market? stay tuned.
Farewell, Condo Cash-Outs - New York Times: "Of 23 investors who sold since Clarendon 1021 opened last summer, the three most recent sellers actually lost money, after paying all fees, and average profits in the building have declined since August, said Frank Borges LLosa, owner of FranklyRealty.com.
The Great Condo Gold Rush is fading from memory and the Great Sell-Off has begun. 'Money Down! Motivated Seller, Want More? Just Ask!' screamed an investor's online advertisement last week for a one-bedroom apartment in Clarendon 1021 that had never been lived in."
sometime last summer I posted a few items wondering if the real estate frenzy was an actual bubble- so I feel obligated to update. It seems that the rush on yet to be built condos was indeed a bubble, fueled by speulators. Now that some are wanting their profit, of course the market is falling.
will this same scenario apply to a the rest of the housing market? stay tuned.
Farewell, Condo Cash-Outs - New York Times: "Of 23 investors who sold since Clarendon 1021 opened last summer, the three most recent sellers actually lost money, after paying all fees, and average profits in the building have declined since August, said Frank Borges LLosa, owner of FranklyRealty.com.
The Great Condo Gold Rush is fading from memory and the Great Sell-Off has begun. 'Money Down! Motivated Seller, Want More? Just Ask!' screamed an investor's online advertisement last week for a one-bedroom apartment in Clarendon 1021 that had never been lived in."
Tuesday, February 07, 2006
Payola, radio pay-to-play, is back, with support of large radio conglomerates.
ABC News: Payola Focus Turns To Major Radio Conglomerates: "Feb. 7, 2006 -- ABC News has learned the focus of a two-year long payola investigation by the New York attorney general is turning to the nation's nine largest radio conglomerates.
Attorney General Eliot Spitzer says evidence he has gathered clearly shows some of the radio conglomerates have participated in the illegal practice of accepting payments from record companies and middlemen for guaranteed air play for certain songs.
'The behavior has been unethical, improper, illegal and a sanction of some severity clearly should be imposed,' Spitzer told ABC News chief investigative correspondent Brian Ross.
Spitzer and music industry officials told 'Primetime' that millions of dollars in payments, gifts and trips are exchanged each year to get music stations to add songs to their weekly play lists.
Spitzer says record company documents obtained in the investigation of Sony Music and Warner, both who have settled with the attorney general, reveal payments for songs that became major hits, including Jennifer Lopez's 'I'm Real' and John Mayer's 'Daughters.'
Other artists whose songs are named in the documents Spitzer has obtained include Jessica Simpson, Celine Dion, Maroon 5, Good Charlotte, Franz Ferdinand, Switchfoot, Michelle Branch, and R.E.M."
ABC News: Payola Focus Turns To Major Radio Conglomerates: "Feb. 7, 2006 -- ABC News has learned the focus of a two-year long payola investigation by the New York attorney general is turning to the nation's nine largest radio conglomerates.
Attorney General Eliot Spitzer says evidence he has gathered clearly shows some of the radio conglomerates have participated in the illegal practice of accepting payments from record companies and middlemen for guaranteed air play for certain songs.
'The behavior has been unethical, improper, illegal and a sanction of some severity clearly should be imposed,' Spitzer told ABC News chief investigative correspondent Brian Ross.
Spitzer and music industry officials told 'Primetime' that millions of dollars in payments, gifts and trips are exchanged each year to get music stations to add songs to their weekly play lists.
Spitzer says record company documents obtained in the investigation of Sony Music and Warner, both who have settled with the attorney general, reveal payments for songs that became major hits, including Jennifer Lopez's 'I'm Real' and John Mayer's 'Daughters.'
Other artists whose songs are named in the documents Spitzer has obtained include Jessica Simpson, Celine Dion, Maroon 5, Good Charlotte, Franz Ferdinand, Switchfoot, Michelle Branch, and R.E.M."
Insider Gambling Ring Coyotes' assistant served with complaint in gambling bust | www.azstarnet.com �: "Phoenix Coyotes assistant coach Rick Tocchet financed a nationwide sports gambling ring in which about a dozen current NHL players placed bets, authorities said Tuesday.
Tocchet, a former NHL star, was served with a criminal complaint Monday and was expected to travel from his Arizona home to answer charges of promoting gambling, money laundering and conspiracy, state police Col. Rick Fuentes said.
Fuentes said an investigation into the New Jersey-based ring discovered the processing of more than 1,000 wagers, exceeding $1.7 million, on professional and college sports, mostly football and baseball. He declined to identify the NHL players who made wagers.
Authorities said Tocchet and state police Trooper James J. Harney were partners in the operation, with the ex-NHL forward providing the financing."
Tocchet, a former NHL star, was served with a criminal complaint Monday and was expected to travel from his Arizona home to answer charges of promoting gambling, money laundering and conspiracy, state police Col. Rick Fuentes said.
Fuentes said an investigation into the New Jersey-based ring discovered the processing of more than 1,000 wagers, exceeding $1.7 million, on professional and college sports, mostly football and baseball. He declined to identify the NHL players who made wagers.
Authorities said Tocchet and state police Trooper James J. Harney were partners in the operation, with the ex-NHL forward providing the financing."
put this in the racketeering, fraud, and payoff files:
Pellicano and 6 Others Are Indicted - Los Angeles Times: "In a sweeping indictment that reads like an unfinished Hollywood screenplay, onetime private investigator Anthony Pellicano and six others were accused Monday of conspiring to wiretap, blackmail and intimidate dozens of celebrities and business executives, including actor Sylvester Stallone, comic Garry Shandling and real estate developer Robert McGuire.
The 110-count federal indictment outlines a complicated web of payoffs to police, high-tech eavesdropping and other skulduggery. Prosecutors allege that Pellicano scoured confidential communications and law enforcement databases for scandalous details that would scare off lawsuits or provide his clients with the upper hand in courtroom battles."
Pellicano and 6 Others Are Indicted - Los Angeles Times: "In a sweeping indictment that reads like an unfinished Hollywood screenplay, onetime private investigator Anthony Pellicano and six others were accused Monday of conspiring to wiretap, blackmail and intimidate dozens of celebrities and business executives, including actor Sylvester Stallone, comic Garry Shandling and real estate developer Robert McGuire.
The 110-count federal indictment outlines a complicated web of payoffs to police, high-tech eavesdropping and other skulduggery. Prosecutors allege that Pellicano scoured confidential communications and law enforcement databases for scandalous details that would scare off lawsuits or provide his clients with the upper hand in courtroom battles."
Infiltrating Quaker Peace Activities
i had heard these rumors, apparantly this is true- the Bush Cheney administration has authroized infiltration of Quaker sponsored Truth Project- shades of the 60s, No?
Where is the outrage?
People's Weekly World - Hearings, lawsuit slam Bush spying defense: "The warrantless spying secretly ordered by Bush in 2001 includes wiretapping by the National Security Agency and a separate Defense Department project, Operation Talon.
Richard Hersh, an activist with the Truth Project in Palm Beach, Fla., which distributes counter-recruitment literature at local high schools, called surveillance directed at him and his group �absolutely ridiculous.�
�We are exercising our constitutional rights,� he told the World. �Our purpose is to educate teenagers, to give them enough information so that they can make an informed choice about whether to enlist in the military, to help them balance the misinformation they are getting from the recruiters.�
NBC News obtained a secret 400-page Pentagon document that listed the Truth Project as a �credible threat� to national security. The Pentagon sent an agent to spy on the group�s first meeting at the Quaker Meeting House in Lake Worth in 2004, one of almost four dozen similar meetings nationwide infiltrated on Bush-Cheney orders.
The report revealed that the Defense Department spy operation kept tabs on 1,500 �suspicious incidents� such as distribution of antiwar leaflets at high schools, peace vigils and town hall meetings.
Eight people are active in the Truth Project, Hersh said, including Quakers, a 79-year-old grandmother and Hersh himself, partially disabled by a nerve disease that often confines him to a wheelchair.
Hersh added with a chuckle, �Yes, I guess we are a �credible threat.� The truth is always a threat to those who are lying. We are always a threat to illegitimate and unjust powers.� "
i had heard these rumors, apparantly this is true- the Bush Cheney administration has authroized infiltration of Quaker sponsored Truth Project- shades of the 60s, No?
Where is the outrage?
People's Weekly World - Hearings, lawsuit slam Bush spying defense: "The warrantless spying secretly ordered by Bush in 2001 includes wiretapping by the National Security Agency and a separate Defense Department project, Operation Talon.
Richard Hersh, an activist with the Truth Project in Palm Beach, Fla., which distributes counter-recruitment literature at local high schools, called surveillance directed at him and his group �absolutely ridiculous.�
�We are exercising our constitutional rights,� he told the World. �Our purpose is to educate teenagers, to give them enough information so that they can make an informed choice about whether to enlist in the military, to help them balance the misinformation they are getting from the recruiters.�
NBC News obtained a secret 400-page Pentagon document that listed the Truth Project as a �credible threat� to national security. The Pentagon sent an agent to spy on the group�s first meeting at the Quaker Meeting House in Lake Worth in 2004, one of almost four dozen similar meetings nationwide infiltrated on Bush-Cheney orders.
The report revealed that the Defense Department spy operation kept tabs on 1,500 �suspicious incidents� such as distribution of antiwar leaflets at high schools, peace vigils and town hall meetings.
Eight people are active in the Truth Project, Hersh said, including Quakers, a 79-year-old grandmother and Hersh himself, partially disabled by a nerve disease that often confines him to a wheelchair.
Hersh added with a chuckle, �Yes, I guess we are a �credible threat.� The truth is always a threat to those who are lying. We are always a threat to illegitimate and unjust powers.� "
Thursday, February 02, 2006
Earmarks are the currency of corruption.
While Republicans claim that they are “fixing” the ethics problem with lobbying limitations, earmarks are the currency in which the quid pro quo of this latest round
of corruption are transacted. Current proposals in the House of Representatives which aim to limit lobbying are attacking only half of the problem. While some in the blogosphere and the mainstream press are saying that Hassert has been at arms
length, it is the very substance of the way legislation in the house has been managed,
particularly the odious transportation bill that has fostered the climate of corruption.
Republican House members couldn’t be collecting as salesmen if there was nothing to sell. Thus, the House leadership has been integrally involved in this culture of corruption. Assuming that The K Street Project operates only on K Street is looking at only one half of the transaction. While many have focused on the gifts, trips and fundraisers, they have mostly ignored the fact that the congressmen must have something to hand out: not just the promise of a vote on a particular bill one way or another. What congressmen have to give out is earmarks.
Ken Silverstein, explained earmarks as far back as July, in Harpers: "The Great American Pork Barrel: Washington Streamlines the Means of Corruption."
"Earmarks are added anonymously, frequently during last-minute, closed-door sessions of the appropriations committees. An especially attractive feature for those private interests seeking earmarks is that they are awarded on a noncompetitive basis and recipients need not meet any performance standards."
"In the past two decades, the pastime has become breathtaking in its profligacy. ... Last year, 15,584 separate earmarks worth a combined $32.7 billion were attached to the appropriations bills ¬ more than twice the dollar amount in 2001 ... and more than
three times the dollar amount in 1998, when roughly 2,000 earmarks totaled $10.6 billion. The process is so willfully murky that abuse has become not the exception, but the rule.”
Of course it is the House Republican hierarchy which controls and thus allows, or perhaps even encourages this budget process. And it is the house hierarchy which passed “the DeLay rule” allowing DeLay to continue as majority leader even after he was indicted.
In the last session, it was Alaska’s buffoon Don Young who was the stooge invited to be chairman of a process which passed the most bloated transportation bill in history, including the famous “Bridge to Nowhere.” (which Stevens, Young, and Alaska’s governor are still
defending.)
As Josh Marshall has said, “The aim has been to harness the resources of the state to undergird Republican control -- in this case, by making more and more federal money available as patronage funds that leadership-compliant members of Congress can use to reward donors and key constituencies.”
Unassailable Republican Control was the ultimate goal, the K Street Project was the vehicle, but it would not have functioned without handouts, the earmarks inserted into every conceivable bill which functioned as the currency of the culture of corruption.
Unsurprisingly I suppose, here is Alaska’s Senator Ted Stevens, known in his home state “Uncle Sugar” defending earmarks, which after all have been the currency he has used to continue his long reign in the Senate.
adn.com | alaska : Stevens: Earmarks don't need reforming
While Republicans claim that they are “fixing” the ethics problem with lobbying limitations, earmarks are the currency in which the quid pro quo of this latest round
of corruption are transacted. Current proposals in the House of Representatives which aim to limit lobbying are attacking only half of the problem. While some in the blogosphere and the mainstream press are saying that Hassert has been at arms
length, it is the very substance of the way legislation in the house has been managed,
particularly the odious transportation bill that has fostered the climate of corruption.
Republican House members couldn’t be collecting as salesmen if there was nothing to sell. Thus, the House leadership has been integrally involved in this culture of corruption. Assuming that The K Street Project operates only on K Street is looking at only one half of the transaction. While many have focused on the gifts, trips and fundraisers, they have mostly ignored the fact that the congressmen must have something to hand out: not just the promise of a vote on a particular bill one way or another. What congressmen have to give out is earmarks.
Ken Silverstein, explained earmarks as far back as July, in Harpers: "The Great American Pork Barrel: Washington Streamlines the Means of Corruption."
"Earmarks are added anonymously, frequently during last-minute, closed-door sessions of the appropriations committees. An especially attractive feature for those private interests seeking earmarks is that they are awarded on a noncompetitive basis and recipients need not meet any performance standards."
"In the past two decades, the pastime has become breathtaking in its profligacy. ... Last year, 15,584 separate earmarks worth a combined $32.7 billion were attached to the appropriations bills ¬ more than twice the dollar amount in 2001 ... and more than
three times the dollar amount in 1998, when roughly 2,000 earmarks totaled $10.6 billion. The process is so willfully murky that abuse has become not the exception, but the rule.”
Of course it is the House Republican hierarchy which controls and thus allows, or perhaps even encourages this budget process. And it is the house hierarchy which passed “the DeLay rule” allowing DeLay to continue as majority leader even after he was indicted.
In the last session, it was Alaska’s buffoon Don Young who was the stooge invited to be chairman of a process which passed the most bloated transportation bill in history, including the famous “Bridge to Nowhere.” (which Stevens, Young, and Alaska’s governor are still
defending.)
As Josh Marshall has said, “The aim has been to harness the resources of the state to undergird Republican control -- in this case, by making more and more federal money available as patronage funds that leadership-compliant members of Congress can use to reward donors and key constituencies.”
Unassailable Republican Control was the ultimate goal, the K Street Project was the vehicle, but it would not have functioned without handouts, the earmarks inserted into every conceivable bill which functioned as the currency of the culture of corruption.
Unsurprisingly I suppose, here is Alaska’s Senator Ted Stevens, known in his home state “Uncle Sugar” defending earmarks, which after all have been the currency he has used to continue his long reign in the Senate.
adn.com | alaska : Stevens: Earmarks don't need reforming
Subscribe to:
Comments (Atom)
