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From the Dow Theory Letter / Richard Russell:
While in Scotland, the House members toured historic buildings. Some shopped for Scotch whisky and visited the hotel spa. They capped the trip with a dinner at one of the region's finest restaurants, paid for by the legislators, who got $118 daily stipends for meals and incidentals. Eleven of the 12 legislators then left the five-day conference two days early. The tour provides a glimpse of the mixture of business and pleasure involved in legislators' overseas trips, which are growing in number and mostly financed by the taxpayer. Lawmakers travel with military liaisons who carry luggage, help them through customs, escort them on sightseeing trips and stock their hotel rooms with food and liquor. Typically, spouses come along, flying free on jets operated by the Air Force. Legislative aides come too. On the ground, all travel in chauffeured vehicles. Lawmakers take scores of overseas trips each year to visit military bases, meet foreign officials, attend conferences and see how U.S. funds are spent. Ever since a corruption scandal in 2005 led to restrictions on privately funded travel, legislators have been taking more trips paid for by the government. The cost they reported for such travel abroad was $13 million in 2008, a 70% jump from 2005, according to a Wall Street Journal analysis of travel records. Lawmakers don't have to report the cost of domestic travel when the government pays. The $13 million didn't include the expense of flying on Air Force planes, which lawmakers don't have to disclose. Russell Comment -- This is the disgraceful conduct exhibited by some of our Congressmen. Patriots? Law-makers? I call them unabashed scoundrels! It's not that they cost the nation so much, it's their total lack of decency. And we wonder why politicians are so anxious to get reelected. +++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++
From Christopher Bollyn:
TIME'S MAN OF THE YEAR:
MEGA-SHYSTER BEN BERNANKE
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Posted at Housing Bubble Blog:
Barack Obama Campaign Promise No. 512: “And, absolutely, we need earmark reform. And when I’m president, I will go line by line to make sure that we are not spending money unwisely.” Sources: The first presidential debate, Sept. 26, 2008 Health Care Reform, Earmark Edition That’s certainly been the case in the Senate’s health care reform bill, where it wasn’t just the moderate holdouts who successfully secured enormous earmarks for their states. Here’s the emerging list: (1) Ben Nelson (D-Neb.): Making a joke of the earlier claim that his vote is “not for sale,” the Nebraska Democrat won three huge concessions for his state in the Senate bill: $100 million in extra Medicaid funds; an annual fee exemption for some Nebraska-based insurance companies; and another carve-out exempting some physician-owned hospitals in the state from new restrictions. (2) Mary Landrieu (D-La.): Senate leaders secured her support with $300 million in new Medicaid funding for Louisiana. (3) Max Baucus (D-Mont.): The Finance Committee chairman has long fought for federal funding surrounding an asbestos mine in Libby, Mont., The New York Times pointed out over the weekend. The health reform bill, most of which Baucus and his staff wrote, fulfilled his wish, including a provision to expand Medicare coverage to victims living near the mine. (4) Bill Nelson (D-Fla.): Representing a state chock-full of seniors, the Florida Democrat has been concerned about the proposed cuts to the Medicare Advantage program, under which the government pays private insurers to cover Medicare beneficiaries. The result? Three counties in south Florida are exempt from the cuts. (5) Chris Dodd (D-Conn.): Many senators have been scratching their heads in recent days trying to figure out who would benefit from a $100 million provision to build a new university-affiliated hospital. Turns out that Dodd, who ushered the health reform bill through the Senate HELP Committee in the absence of the late Sen. Edward Kennedy (D-Mass.), is eyeing the funding for UConn. (6) Bernie Sanders (D-Vt.) : The Vermont Independent had threatened to oppose the bill if it lacked a strong public insurance option. Instead, Senate leaders agreed to Sanders’ request for additional money for community health centers ($10 billion more, to be exact). Vermont was also among the handful of states to win extra federal Medicaid funding. This, of course, is nothing new. As David Axlerod told CNN’s “State of the Union” over the weekend, “Every senator uses whatever leverage they have to help their states. That’s the way it has been. That’s the way it will always be.” ++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++ Corruption threatens "soul and fabric" of U.S.: FBIBOCA RATON, Florida (Reuters) - Corruption, whether in the form of crooked officials, financial fraudsters or even philandering sports stars, is tearing at the fabric of U.S. society and is the country's No. 1 criminal threat, a senior FBI agent said on Tuesday. Addressing businessmen in Florida, where financial fraud cases jumped by 42 percent in the last year, FBI Miami Division Special Agent in Charge John Gillies said failures in personal ethics and integrity sowed the initial poisonous seeds of corruption in a society. Gillies said transgressions by high-profile public servants and even perceived social role models, like top golfer Tiger Woods, currently embroiled in allegations that he had extramarital affairs, sent the signal to young Americans that cheating and stealing were acceptable. "Where do our children learn this? They see us, their elected officials, their sports stars, they see how they act and they figure, 'well it's OK,'" he said, citing the case of Woods, whose early morning car accident in Florida last month triggered a storm of media questioning of his clean-living reputation. "Money can't buy everything," Gillies said in a speech to the West Boca Chamber of Commerce in Boca Raton, Florida. The special agent, who manages high-profile cases in Florida, the Caribbean and Latin America, in no way suggested Woods had committed any criminal offenses. Florida police issued Woods a ticket for careless driving last week and said no criminal charges... http://www.reuters.com/article/idUSTRE5B74AI20091208 You received this message because you are subscribed to the Google Groups "APFN" group. 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