Oct 18

Dennis Kucinich: FBI Investigation of Hillary Clinton Was Fixed in Her Favor

Speaking Monday on Fox News with host Neil Cavuto, former Democratic presidential candidate and United States House of Representatives Member from Ohio Dennis Kucinich opined that, from early on, the US government’s investigation of Hillary Clinton for mishandling confidential information while she was Secretary of State was fixed in her favor.

Instead of the investigative process being focused on achieving justice, Kucinich says it was “a very political process” that had “everything to do with the 2016 presidential election” in which Clinton is the Democratic nominee. Kucinich elaborates that “the executive branch of government made an early determination that no matter what came up that there was no way that Hillary Clinton was going to have to be accountable under law for anything dealing with the mishandling of classified information.”

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Sep 25

H/t reader M.G.:

“Excellent article written by the man I wanted as president, but the corporate media gave him no coverage, except to try and show him as a buffoon. His interest in UFO’s was covered once.
The only decent man in congress. The powers that be managed to get rid of him by eliminating his district……
This is indeed why we are in Syria.
Where the hell is Putin?”

He is probably busy, preparing for WW III.


Dar Al-Shifa hospital in Aleppo, Syria after a bombing
Dar Al-Shifa hospital in Aleppo, Syria after a bombing

Dennis Kucinich is former US Congressman and two-time presidential candidate from Ohio who served 16 years in the U.S. House of Representatives.

The Real Reason We Are Bombing Syria (Common Dreams, Sep 24, 2014):

By Dennis Kucinich

The administration’s response to the conjunction of this weekend’s People’s Climate March and the International Day of Peace?

1) Bomb Syria the following day, to wrest control of the oil from ISIS which gained its foothold directly in the region through the U.S., Saudi Arabia, Qatar, Turkey and Jordan funding and arming ISIS’ predecessors in Syria.

2) Send the president to UN General Assembly, where he will inevitably give a rousing speech about climate and peace, while the destruction of the environment and the shattering of world peace is on full display 5,000 miles away.

Nothing better illustrates the bankruptcy of the Obama administration’s foreign policy than funding groups that turn on the U.S. again and again, a neo-con fueled cycle of profits for war makers and destruction of ever-shifting “enemies.”

The fact can’t be refuted: ISIS was born of Western intervention in Iraq and covert action in Syria. Continue reading »

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Aug 31

25 Quotes About The Coming War With Syria That Every American Should See (Economic Collapse, Aug 29, 2013):

If Barack Obama is going to attack Syria, he is going to do it without the support of the American people, without the approval of Congress, without the approval of the United Nations, and without the help of the British.  Now that the British Parliament has voted against a military strike, the Obama administration is saying that it may take “unilateral action” against Syria.  But what good would “a shot across Syria’s bow” actually do?  A “limited strike” is not going to bring down the Assad regime and it is certainly not going to end the bloody civil war that has been raging inside Syria.  Even if the U.S. eventually removed Assad, the al-Qaeda affiliated rebels that would take power would almost certainly be even worse than Assad.  Even in the midst of this bloody civil war, the rebels have taken the time and the effort to massacre entire Christian villages.  Why is Barack Obama so obsessed with helping such monsters?  There is no good outcome in Syria.  The Assad regime is absolutely horrible and the rebels are even worse.  Why would we want the U.S. military to get involved in such a mess?

Continue reading »

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Aug 28

Dennis Kucinich says attack on Syria would make U.S. “al Qaida’s air force” (Cleveland.com, Aug 28, 2013):

Former Cleveland congressman Dennis Kucinich, who has met repeatedly with Syrian leader Bashar al-Assad, was quoted yesterday in a Capitol Hill newspaper as saying that a U.S. military strike on Syria would turn the U.S. military into “al Qaida’s air force.”Kucinich, a fervent opponent of U.S. military engagement in Iraq – told The Hill that intervention in Syria would ensnare the United States in another war and embolden the Islamist militants fighting Bashar Assad’s regime.

“So what, we’re about to become Al Qaida’s air force now?” Kucinich told the publication. “This is a very, very serious matter that has broad implications internationally.”

According to the Hill, Kucinich also “raised doubts” about claims the Syrian military – which is controlled by Assad – killed hundreds of people with chemical weapons last week. He accused the Obama administration of “rushing” into a potential “World War Three” based on questionable evidence.

“This is being used as a pretext,” he said in the interview. The verdict is in before the facts have been gathered. What does that tell you?”

Continue reading »

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Oct 30


Source unknown.


YouTube Added: 19.09.2012

Description:

“In 1992 the Food and Drug Administration decided that genetically modified organisms (GMOs) are the functional equivalent of conventional foods. They arrived at this decision without testing GMOs for allergenicity, toxicity, anti-biotic resistance and functional characteristics. As a result hundreds of millions of acres of GMO crops were planted in America without the knowledge or consent of the American people: no safety testing and no long term health studies.

“The FDA has received over a million comments from citizens demanding labeling of GMOs. Ninety percent of Americans agree. So, why no labeling? I’ll give you one reason: The influence and the corruption of the political process by Monsanto. Monsanto has been a prime mover in GMO technology, a multi-million dollar GMO lobby here and a major political contributor.

“There is a chance that Monsanto’s grip will be broken in California where a GMO labeling initiative is on the ballot. And here in Congress, my legislation HR 3553 will provide for a national labeling law. Americans have a right to know if their food is genetically engineered. It’s time for labeling and for people to know how their food is being produced.”

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Sep 21


YouTube Added: 19.09.2012

Description:

“In 1992 the Food and Drug Administration decided that genetically modified organisms (GMOs) are the functional equivalent of conventional foods. They arrived at this decision without testing GMOs for allergenicity, toxicity, anti-biotic resistance and functional characteristics. As a result hundreds of millions of acres of GMO crops were planted in America without the knowledge or consent of the American people: no safety testing and no long term health studies.

“The FDA has received over a million comments from citizens demanding labeling of GMOs. Ninety percent of Americans agree. So, why no labeling? I’ll give you one reason: The influence and the corruption of the political process by Monsanto. Monsanto has been a prime mover in GMO technology, a multi-million dollar GMO lobby here and a major political contributor.

“There is a chance that Monsanto’s grip will be broken in California where a GMO labeling initiative is on the ballot. And here in Congress, my legislation HR 3553 will provide for a national labeling law. Americans have a right to know if their food is genetically engineered. It’s time for labeling and for people to know how their food is being produced.”

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Jul 17

MUST-SEE!



YouTube Added: 11.02.2011

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Dec 07

Yes, just imagine Iran would have done the same to the US!

Ouch!


US Drone Lost Over Iran Was On CIA Operation (Sky News, Dec. 7, 2011):

The US military has said a missing unmanned spyplane was involved in a joint CIA military operation on Afghanistan’s border with Iran.

The Pentagon has admitted the RQ 170 Sentinel drone is lost somewhere in Iran.

But the US disputes Iranian claims to have shot down the state-of-the-art spy aircraft.

News of the CIA involvement is causing controversy in Washington.

Congressman Dennis Kucinich told Sky News the involvement of America’s spy agency was a worrying development.

“We have to be very careful that we don’t stumble into a wider war here. If we are in Iran’s airpace with anything that belongs to the US, that’s a provocation,” he said.

Continue reading »

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Oct 09


YouTube Added: 03.10.2011

Full article here:

Leuren Moret: US Space shuttle covert mission was chemtrails in space for HAARP (Examiner, Oct. 3, 2011):

By Alfred Lambremont Webre, JD, Med

In an exclusive Oct. 2, 2011 ExopoliticsTV interview, independent scientist Leuren Moret, MA, PhD (ABT) has stated that the covert mission of the U.S. Space shuttle (1981 – 2011) was to distribute chemtrails in space as part of the HAARP weapons system. Ms. Moret based her findings on U.S. Navy and other documents reproduced in the article below.

Chemtrails in space & HAARP weapons system

According to Ms. Moret, Chemtrails in space are used as a weapons-system component of the HAARP weapon of mass destruction weapons system that is for weather warfare, tectonic warfare, directed energy warfare, and mass mind control.

The environmental warfare events created by the HAARP and chemtrails (space-based and atmosphere-based) weapons system includes at least, by the evidence the following: 9/11 (the molecular dissociation and collapse of the World Center twin towers); the Katrina Hurricane of 2005; the 2008 Myanmar cyclone (150,000) dead); the 2008 China earthquake (80,000 dead); the 2010 Haiti earthquake (200, 000 dead); and the March 11, 2011 Fukushima false flag tectonic and global radiation attack.  The results of the Fukushima event, triggered by the HAARP and chemtrails (space-based and atmosphere-based) weapons system includes a projected 100,000 deaths in USA and Canada by the end of 2011, the radiation contamination of Japan, USA and Canada, and long-term radiation depopulation of the human race.

Continue reading »

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Jul 07

True, but you cannot trust Dennis Kucinich either.

Flashback:

And Now: Rep. Dennis Kucinich Will Support Senate Health Care Bill

Rep. Dennis Kucinich willing to cast the vote that kills health reform

(Almost) the entire US congress is bought and paid for.


The US Must End Its Illegal War In Libya Now (Guardian, July 6, 2011):

President Obama has ripped up the US constitution for Nato’s ill-considered Libyan adventure. Congress must restore sense

This week, I am sponsoring legislation in the United States Congress that will end US military involvement in Libya for the following reasons:

First, the war is illegal under the United States constitution and our War Powers Act, because only the US Congress has the authority to declare war and the president has been unable to show that the US faced an imminent threat from Libya. The president even ignored his top legal advisers at the Pentagon and the department of justice who insisted he needed congressional approval before bombing Libya.

Continue reading »

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Mar 18

See also:

Rep. Dennis Kucinich willing to cast the vote that kills health reform

Rep. Dennis Kucinich: Health reform legislation ‘a bailout for insurance companies’

Dennis Kucinich has probably been told that the USS Titanic will sink very fast, if the health care bill is not passed NOW.

Have they put a gun to his head?

Dennis Kucinich is off my very short list of righteous congressmen.

More signs that health care bill is desperately needed to slow the sinking of the USS Titanic:

US healthcare bill to cut deficit, CBO says (Reuters)

Why has CNN removed this video?

Health care bill will cut deficit, Nancy Pelosi says. (CNN)

The healthcare bill cuts the deficit? Sounds like a tax increase, doesn’t it?:

Obamacare Tax Hikes


“This is not the bill I wanted to support.”


Added: 17. März 2010

More on Obamacare:

Continue reading »

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Mar 16

See also:

Nancy Pelosi: ‘But we have to pass the health care bill, so that you can find out what is in it.’

It’s getting better every day. Who needs Congress anyway?


nancy_pelosi
Nancy Pelosi

(Washington Post) — After laying the groundwork for a decisive vote this week on the Senate’s health-care bill, House Speaker Nancy Pelosi suggested Monday that she might attempt to pass the measure without having members vote on it.

Instead, Pelosi (D-Calif.) would rely on a procedural sleight of hand: The House would vote on a more popular package of fixes to the Senate bill; under the House rule for that vote, passage would signify that lawmakers “deem” the health-care bill to be passed.

The tactic — known as a “self-executing rule” or a “deem and pass” — has been commonly used, although never to pass legislation as momentous as the $875 billion health-care bill. It is one of three options that Pelosi said she is considering for a late-week House vote, but she added that she prefers it because it would politically protect lawmakers who are reluctant to publicly support the measure.

“It’s more insider and process-oriented than most people want to know,” the speaker said in a roundtable discussion with bloggers Monday. “But I like it,” she said, “because people don’t have to vote on the Senate bill.”

Republicans quickly condemned the strategy, framing it as an effort to avoid responsibility for passing the legislation, and some suggested that Pelosi’s plan would be unconstitutional.

“It’s very painful and troubling to see the gymnastics through which they are going to avoid accountability,” Rep. David Dreier (Calif.), the senior Republican on the House Rules Committee, told reporters. “And I hope very much that, at the end of the day, that if we are going to have a vote, we will have a clean up-or-down vote that will allow the American people to see who is supporting this Senate bill and who is not supporting this Senate bill.” Continue reading »

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Mar 11


Added: March 10, 2010

More on the war on terror:

Continue reading »

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Mar 09

Labels it a ‘bailout’ for the insurance industry

dennis-kucinich

Facing razor-thin margins in the House, Democratic leaders are hoping to convert the sole liberal who opposes their health care bill, but it seems they have their work cut out because he isn’t budging.

Rep. Dennis Kucinich (D-OH) on Monday defended his opposition to the proposal in an appearance on MSNBC’s Countdown With Keith Olbermann, citing as his central concern its lack of a robust public option to provide competition for insurance companies.

“This bill represents a giveaway to the insurance industry,” Kucinich said. “$70 billion dollars a year, and no guarantees of any control over premiums, forcing people to buy private insurance, five consecutive years of double-digit premium increases.” Continue reading »

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Dec 23


Added: 23. December 2009
Continue reading »

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Dec 12

“The war in Afghanistan is a racket.”


Added: 08 December 2009
Continue reading »

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Dec 05

dennis-kucinich

Far from being a necessary part of the US’s national security strategy, the Afghanistan war is actually a threat to it, says Ohio congressman Dennis Kucinich.

In a statement released two days after President Barack Obama announced a 30,000-troop surge for the war effort and a July, 2011, beginning for troop withdrawal, Kucinich argued that extending the war would destabilize the United States at home.

“America is in the fight of its life and that fight is not in Afghanistan — it’s here,” Kucinich declared. “We are deeply in debt. Our GDP is down. Our manufacturing is down. Our savings are down. The value of the dollar is down. Our trade deficit is up. Business failures are up. Bankruptcies are up.

“The war is a threat to our national security. We’ll spend over $100 billion next year to bomb a nation of poor people while we reenergize the Taliban, destabilize Pakistan, deplete our army and put more of our soldiers’ lives on the line. Meanwhile, back here in the USA, 15 million people are out of work. People are losing their jobs, their health care, their savings, their investments, and their retirement security. $13 trillion in bailouts for Wall Street, trillions for war; when are we going to start taking care of things here at home?”

Continue reading »

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Dec 05


This video is from
C-SPAN, broadcast Dec. 2, 2009.

Only 100 Al Qaeda fighters remain in Afghanistan, while number of private Pentagon contractors tops 104,000.

In an address to the nation on Tuesday, President Obama declared, “As commander in chief, I have determined that it is in our vital national interests to send an additional 30,000 troops to Afghanistan. … After 18 months, our troops will begin to come home.” For Congressman Dennis Kucinich (D-OH), however, if the ultimate goal is to get out of Afghanistan, then the sooner the better.

“Why are we still in Afghanistan?” Kucinich asked on the floor of the House of Representatives on Wednesday morning. “Al-Qaeda has been routed. Our occupation fuels a Taliban insurgency. The more troops we send, the more resistance we meet.”

“The people of Afghanistan don’t want to be saved by us,” Kucinich continued. “They want to be saved from us. Our presence and our Predator drones kill countless innocents, creating more US enemies and destabilizing Pakistan.”

Continue reading »

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Nov 03

President Obama Lobbies Senate, Favors Insurance Industry Version of Health Care Reform

The US Government: Bought and Paid For

Fall Of The Republic – The Presidency Of Barack H. Obama (The Full Movie HQ)



This video was broadcast by MSNBC on Friday, Oct. 30, 2009.

According to Congressman Dennis Kucinich (D-OH), the Democrats’ health reform legislation is basically a sham.

Appearing on MSNBC’s The Ed Show on Friday night, the House’s most unabashed progressive condemned Democratic leadership for removing his amendment that would allow states to create their own single-payer systems. Then he called the entire legislative package “a bailout for insurance companies.”

Under a single-payer system, like those in Canada and the United Kingdom, the government pools taxpayer funds to pay for citizens’ health care and fees are not collected by health care providers. The Kucinich amendment would allow individual states an opt-in to such a system.

The amendment is missing from health reform legislation unveiled Thursday by Democratic leadership.

“Representative Kucinich was livid when he found out that his provision to allow states to create a single payer system was stripped,” News Junkie Post noted. “Kucinich’s amendment passed the House Labor and Education Committee in July. ‘No one gave me any rational reason,’ Kucinich said. ‘I can only assume the insurance company interests brought pressure to take it out. Otherwise I would have heard from someone.'”

“The [committee] vote was 25 to 19, with support coming from an odd mix of liberal Democrats who support single-payer on its merits and conservative Republicans who want to preserve the rights of states to regulate themselves,” The Washington Independent noted at the time.

“The removal of the Kucinich amendment constitutes yet another capitulation to the health insurance and pharmaceutical industries who are already reaping billions of dollars from the bill,” reads a statement from the congressman’s office on Thursday.

Under the revised public option, “Pelosi and her team have proposed a plan that would not make payments for care based on Medicare rates …” CBS News’s John Nichols noted. “Rather, under the Pelosi plan, the rates be tied to those of the big insurance companies. That’s a big, big victory for the insurance industry, as it will undermine the ability of the public option to compete — and to create pressure for reduced costs.”

Speaking to liberal MSNBC anchor Ed Schultz on Friday, Kucinich continued his assault on the legislation.

“I think we need the support of the American people to say, look, you need that state single-payer amendment in the bill to make it credible,” the congressman said. “I mean, what are people giving up already? They’re being mandated to buy private insurance. If you read the bill, the people are going to end up paying — the insurance companies can raise rates 25 percent right off the bat, if you read the bill.”

Schultz encouraged Kucinich to repeat himself on that point.

“It’s on page 22 of the bill,” he replied. “Right here, it says that rates shall be set at a level that does not exceed 125 percent of the prevailing standard rate for comparable coverage in the individual market. Now … It’s very easy to understand what that means.”

“It’s not reform,” Schultz insisted.

“It means a 25 percent increase, they’ll have the ability to execute and since insurance companies have already raised rates for the last four years by double-digits, we can expect — based on the bill — another rate increase by the insurance companies.”

Schultz called the bill a “sellout” to insurers because the bill only allows 11 million people into a limited government-run health insurance option, and includes a mandate for Americans to buy private policies.

“Maybe instead of a sellout it’s a bailout,” Kucinich responded. “Maybe what we’re looking at here is another way that Wall Street’s speculative engine can be fueled, this time with the help of the premiums of tens of millions of Americans.” Continue reading »

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Oct 23

“When the people find they can vote themselves money, that will herald the end of the republic.”
– Benjamin Franklin


Added: 22. October 2009

Fall Of The Republic documents how an offshore corporate cartel is bankrupting the US economy by design. Leaders are now declaring that world government has arrived and that the dollar will be replaced by a new global currency.

President Obama has brazenly violated Article 1 Section 9 of the US Constitution by seating himself at the head of United Nations’ Security Council, thus becoming the first US president to chair the world body.

A scientific dictatorship is in its final stages of completion, and laws protecting basic human rights are being abolished worldwide; an iron curtain of high-tech tyranny is now descending over the planet.

A worldwide regime controlled by an unelected corporate elite is implementing a planetary carbon tax system that will dominate all human activity and establish a system of neo-feudal slavery.

Continue reading »

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Oct 12

What a coincidence that Ron Paul, , Marcy Kaptur, Dennis Kucinich, Alan Grayson and Brad Sherman are also on my short list of politicians that I find trustworthy.  🙂


us-capitol

Lobbyists from the financial industry have paid hundreds of millions to Congress and the Obama administration. They have bought virtually all of the key congress members and senators on committees overseeing finances and banking.

This is easy to confirm in black-and-white. See for yourself: here, here, here, here, here and here.

Manhattan Institute senior fellow Nicole Gelinas says:

The too-big-to-fail financial industry has been good to elected officials and former elected officials of both parties over its 25-year life span

And economic historian Niall Ferguson says:

Guess which institutions are among the biggest lobbyists and campaign-finance contributors? Surprise! None other than the TBTFs [too big to fails].

No wonder two powerful congressmen said that banks run Congress.

No wonder two leading IMF officials, the former Vice President of the Dallas Federal Reserve, and the the head of the Federal Reserve Bank of Kansas City have all said that the United States is controlled by an oligarchy.

With the exception of a handful couple of Congress members who have the American people’s interest in mind, Congress is bought and paid for.

Note: A friend on the Hill made an important point to me by email.

Maxine Waters and Ron Paul get almost nothing [from the financial lobby. Sherman, Kucinich, Grayson and Kaptur are some other congress members who have not been bought and paid for].

Continue reading »

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Sep 11

Obama sold out the US taxpayer to greedy Wall Street banksters.

He sold out the US taxpayer to the military-industrial complex by escalating the war in Afghanistan and not bringing the troops home.

He sold out the US taxpayer by breaking every major promise he made during his campaign, continuing with Bush’s policies.

Now he plans to sell out the US taxpayer to the insurance and pharmaceutical companies.

At least he is consistent with destroying America every time he gets a chance to do so, like – or even worse than – G. W. Bush.

‘Obamanomics’ and now also ‘Obamacare’ will be a complete disaster for the American people.


Congressman Dennis Kucinich Responds To Obama’s Address To Congress

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Aug 20

dennis-kucinich

The masquerade is over! The “public option” is … dead.

Health care reform is now a private option: WHICH FOR PROFIT INSURANCE COMPANY DO YOU WANT? You have to choose. And you have to pay. If you have a low income, under HR3200 government will subsidize the private insurance companies and you will still have to pay premiums, co-pays and deductibles.

The Administration plan requires that everyone must have health insurance, so it is delivering tens of millions of new “customers” to the insurance companies. Health care? Not really. Insurance care! Absolutely. Cost controls? No chance.

You will next hear talk about “co-ops.” The truth is that insurance company campaign contributions have co-opted the public interest.

I need your help to spread the word and rally the nation around true healthcare reform which covers everyone and maintains fiscal integrity without breaking our nation’s bank! Your contribution will empower our efforts to continue to fight for the single-payer, not-for-profit health care bill, HR676 “Medicare for All,” which I co-authored with John Conyers.. The bill now has 85 sponsors in the House.

The hotly-debated HR3200, the so-called “health care reform” bill, is nothing less than corporate welfare in the guise of social welfare and reform. It is a convoluted mess. The real debate which we should be having is not occurring.

Continue reading »

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Jul 28


Tuesday, 21 July 2009

U.S. Congressman Dennis Kucinich (D-Ohio, 10th District) questions Neil M. Barofsky, the Special Inspector General for the Troubled Asset Relief Program (SIGTARP), testifying before the House Committee on Oversight and Government Reform, about interest payments made to banks that keep their TARP funds and other government (taxpayer) bailout money with the Federal Reserve, instead of making loans to struggling Americans (the original intent of the TARP, remember?) The Fed makes generous interest payments to the banks for “parking” their “excess reserves” at the Fed.

Continue reading »

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Jun 12

Congressman Ron Paul gives the latest exciting news on his legislation to audit the Federal Reserve and explains the possible next steps for the bill.

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Jun 12
ron-paul

After months of activism and lobbying by Congressman Ron Paul’s supporters, House Resolution 1207, the Federal Reserve Transparency Act, will move out of committee to be debated by the full House of Representatives.

In a show of cross-party unity, Ohio Democratic Congressman Dennis Kucinich became the bill’s 218th co-sponsor, pushing it over the threshold for debate in Congress.

The bill, which achieved its 222nd co-sponsorship on Thursday, has been in consideration by the House Financial Services Committee since Feb. 26.

Congressman Kucinich, along with Rep. Edolphus Towns (D-NY), announced Tuesday that the House Financial Services Committee will subpoena the Federal Reserve to ascertain the details of the Fed’s agreements with Bank of America in the institution’s acquisition of Merrill Lynch.

“The full committee and Domestic Policy Subcommittee, under the leadership of Chairman Dennis Kucinich (D-OH), have been investigating the circumstances surrounding the federal government’s bailout of the Bank of America-Merrill Lynch transaction,” Kucinich’s office noted in a Tuesday release. “Specific documents subpoenaed include emails, notes of conversations and other documents.”

While the bill enjoys some Democratic supporters, the vast majority of H.R. 1207 co-sponsors are Republican.

“The tremendous grass-roots and bipartisan support in Congress for HR 1207 is an indicator of how mainstream America is fed up with Fed secrecy,” said Congressman Paul in a Thursday media advisory. “I look forward to this issue receiving greater public exposure.”

Continue reading »

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May 13


Added: Mai 12, 2009
Source: Youtube

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Mar 15

Dennis Kucinich:
– Citigroup used $8 billion of bailout funds to loan Dubai money.
– Bank of America sent $7 billion of taxpayers’ money to China.


March 13, 2009
Source: FOX News

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Mar 09

Rather than using federal bailout money to reinvigorate lending to consumers, some banks that received funds from TARP have spent it on questionable items that have done little to improve the health of the country’s financial sector but have certainly helped out foreign economies such as Dubai and China.

For instance, Citigroup Inc, which received $50 billion in Troubled Asset Relief Program funds, made an $8 billion December loan, not to an American entity, but to a Dubai public sector company, according to a newly released Monday memo by Rep. Dennis Kucinich (D-OH), chairman of the House Domestic Policy Subcommittee.

The Goldman Sachs Group, which received $10 billion in TARP funds at the end of October, saw fit to spend $2 billion earlier in the year on the repurchase of company stock, which resulted in an increase in company share price.

The memo notes of that stock repurchase, “That increase would have constituted a significant benefit to top executives at Goldman Sachs, who typically own large amounts of company stock.”

As of January 3, Goldman Sachs CEO Lloyd Blankfein owned 1,995, 835 shares of the company, according to the memo.

In mid- November, Bank of America spent $7 billion investing in the China Construction Bank Corporation. Bank of America received $25 billion in TARP funds.

J.P. Morgan Treasury Services spent $1 billion investing in cash management and trade finacie solutions in India also in November. J.P Morgan Chase & Co. received $25 billion in TARP funds.

Continue reading »

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Feb 22

Chairman of Domestic Policy Subcommittee Opens Inquiry

Chairman of the Domestic Policy Subcommittee, Congressman Dennis Kucinich (D-OH) today sent a letter to Ms. Mary Schapiro, Chair of the Securities and Exchange Commission (SEC) requesting documents that could reveal which government agency told the SEC to “stand down” rather than take enforcement action against the Stanford Group in October 2006 as has been reported by the New York Times.

Related articles:
US authorities had been investigating Allen Stanford for 15 years! (Times)

FBI tracks down Texas financier in $8 billion fraud case (AP):
Stanford is not under arrest and is not in custody.
Past probes sought to tie Stanford to drugs (Houston Chronicle)

Recent media reports have indicated that the SEC was aware of improprieties at Stanford Financial Group as early as October 2006, but withheld action at the request of another government agency.

In a report published in the February 17th edition of the New York Times, an SEC official said that an inquiry had been opened on Stanford in October of 2006. According to the Times report, an associate regional director of enforcement said the SEC “stood down” on its investigation as a result of the intervention of another federal agency.

Stanford is now the focus of an $8 billion fraud investigation and, presumably, an earlier inquiry would have spared many Stanford investors and triggered similar inquiries into other funds which lacked transparency.

“The SEC’s recent filing against Stanford stemmed from the 2006 SEC inquiry that had been apparently shelved at the request of the unnamed agency. If this is true, we must find out why the SEC delayed enforcement, and if there were other cases where other government agencies intervened to block enforcement,” Chairman Kucinich said.

“If the SEC did indeed begin an inquiry in 2006 and was called off by another agency, our subcommittee will demand that the SEC reveal the name of that agency which told it not to enforce federal laws which protect investors,” said Chairman Kucinich.

Continue reading »

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