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Not on Tea Party Guest List? Orrin Hatch Invites Himself to Townhall Meeting
By Tom Diemer - Politics DailySen. Orrin Hatch isn't going to miss this party. Hatch, who is two years from facing reelection, says he plans to attend a Tea Party Express townhall meeting in Washington Tuesday night, even though he's not listed as a participant in an official announcement of the event. Tea Party Express head Amy Kremer told CNN that Hatch (R-Utah) had apparently "invited himself." That's all right, she said, and "obviously Senator Hatch wants to get reelected." But, she warned, "he needs to be ready to answer the tough questions." Hatch's one-time colleague, former Sen. Robert Bennett, was ousted by tea ...
Former Obama 'Car Czar' Steven Rattner Settles on Kickback Charge for $10 Million
By Politics Daily Staff - Politics DailyFormer Obama administration "car czar" Steven L. Rattner agreed Thursday to pay $10 million to settle civil lawsuits accusing him of a kickback scheme involving the New York State pension system. New York Attorney General Andrew Cuomo, who will be sworn in as governor on Jan. 1, announced the agreement on two lawsuits brought by the state last month. The attorney general alleged that Rattner paid kickbacks to help his former company, Quadrangle Group, win $150 million in state pension fund investments in 2004 and 2005. Rattner, who did not admit to any wrongdoing, will pay the restitution to ...
Peter Orszag, Former Obama Budget Chief, to Join Bailout Recipient Citigroup
By Tom Diemer - Politics DailyCitigroup, a huge banking conglomerate that the government rescued with a $45 billion bailout during the financial crisis, has hired Peter Orszag, who until recently served as President Obama's director of the Office of Management and Budget. Orszag, 41, will become vice president of global banking for the financial firm, according to the Associated Press. In line with ethics laws, he will not have contact with federal government officials. But Orszag got the attention of the White House last September, shortly after leaving the administration, when he advocated retaining the Bush-era tax ...
WikiLeaks, the Video Game
By Dave Thier - AOL News(Dec. 8) -- If some people see WikiLeaks founder Julian Assange as a James Bond figure, then why shouldn't he, like Ian Flemming's fictitious spy, get his own video game? A game developer and blogger called "Gnome" has put out the call to the independent video game development community to begin the creation of what he calls "WikiLeaks Stories," which he hopes will become a series of games based on WikiLeaks cables, Julian Assange and anything else relating to the international media organization. In the true Wiki spirit, the project isn't going to be limited to one developer, or one game. ...
Government Gridlock, aka 'Tater Tot Famine'
By Robert and Donna Trussell - Politics DailyFollow the Trussell cartoons on Twitter at ChaosTheoryPD ...
Economist: US and Ireland Both Fell Prey to Real Estate Market
By Paul Wachter - AOL News(Nov. 18) -- Ireland is looking squarely in the face of a rescue package of "tens of billions" of euros today. Sound familiar? It should. As was the case in the United States when the government bailed out Wall Street banks to save the American economy, many in Ireland are displeased with the idea. But the Irish have a historical precedent behind their ire. The Irish Times maintains in its lead editorial that this is a shameful time for Ireland: It may seem strange to some that The Irish Times would ask whether this is what the men of 1916 died for: a bailout from the German chancellor ...
Ireland Resisting Pressure to Accept Huge EU Bailout
By Theunis Bates - AOL NewsLONDON (Nov. 15) -- The European Union is drawing up a possible $110 billion bailout plan to help Ireland rescue its ailing banking sector, despite repeated claims by the Irish government that the debt-ridden nation doesn't need any outside help. Reports of a bailout first emerged this weekend, when it was revealed that Irish finance ministry officials were holding informal talks with senior EU representatives over a rescue package of $80 billion to $110 billion. A government spokesman acknowledged today that a meeting had taken place with "international colleagues" over the country's debt ...
Bloomberg Report Shows TARP Profits Top Treasury Bond Returns
By Steven Hoffer - AOL News(Oct. 20) -- Returns on the Troubled Asset Relief Program used to bail out the financial industry, better known as TARP, generated higher profits for taxpayers than 30-year Treasury bonds, according to a Bloomberg report. The government earned $25.2 billion on its investment of $309 billion in the financial sector, which many critics originally believed would result in losses of hundreds of billions of dollars. However, concerns persist regarding the TARP program. "From the perspective of the taxpayers getting their money back, TARP has been a great success," Todd Petzel, chief investment ...
Obama's Economic Message: We Can't Hear You
By Alex Wagner - Politics DailyOn Friday, the Bureau of Labor Statistics released September's Employment Situation Summary -- the latest stats on American employment (and unemployment), and the last such data before the November elections. The results? Unemployment is stuck at 9.6 percent and the country lost 95,000 jobs. In what has become a monthly exercise in seeing the glass half full or half empty, the White House will defend its steps to rescue the economy and create jobs, while the GOP will use the very same figures to show just how far the country has been run off course. In the days before last month's jobs stats ...
TARP Bailout Loss to Taxpayers Put at $29 Billion
By Tom Diemer - Politics DailyTaxpayers are likely to lose $29 billion -- less than expected -- from the federal TARP bailouts for failing businesses made during the financial crisis, with the biggest bites coming from the automobile industry rescue and a housing finance program, the Treasury Department says. In a report Tuesday, the Obama administration said it expects to swallow $17 billion of its investment in General Motors, Chrysler and car loan financing companies, the New York Times reported. Another $46 million that won't be coming back went to a mortgage assistance program called Home Affordable ...
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