US Action News

[T]o do serious business in America requires vast campaign contributions to several layers of elected politicians, an army of lobbyists in Washington, retired government employees on your board and public devotion to the American civic religion. It goes on every year and restarts every election cycle. .. It’s easier and more efficient in Mexico. You pay bribes directly.

“This is a classic example of this toxic combination of lemon socialism and crony capitalism. The lemon socialism part is the old story of industrial policy. Meaning smart people in Washington, or people who think they’re smart, elected officials and bureaucrats, and they bring in experts who think they’re even smarter, that decide which are the industries of the future as if they know and the market doesn’t.” …. “you destroy an economy when you think that a politician in a centralized capitol knows where capital ought to be allocated. “

Tax cut bill introduced by the Senate majority leader is chock-full of sweeteners — which cover everything from the Hollywood industry to rum producers — to serve as a legislative pacifier for Dems upset over the concessions the president has handed Republicans.

EX-LOBBYIST PLEADS GUILTY TO CORRUPTION: Paul Magliocchetti, the former head of PMA Group, will plead guilty to charges of corruption next week, the Associated Press reports.

Crowley left during the Dec. 10 debate over amendments to the legislation in order to attend his holiday fundraiser at financial industry lobbyist Julie Domenick’s home, which is also her office. He then came back and voted against amendments that would have strengthened the bill, the New York Times reported.?

Former President Bill Clinton, campaigning this week for Pennsylvania Democratic Senate nominee Joe Sestak, has been caught on video contradicting the Obama White House official statement on the Jobsgate scandal. Not once. Not twice. But three times.

Employees at Fannie Mae and Freddie Mac — including top executives — received 173 cut-rate loans from Countrywide Financial, according to a congressional probe, the latest accusation that the lender tried to curry influence with people in power.

Contributions from the financial sector account for roughly 30 percent of all money collected by the campaign committee and leadership PAC of Senate Banking Committee Chairman Chris Dodd. But that is just not enough. His wife has a $153,000 salary on the board of CME which just got access to Federal Reserve funds from the Dodd bill. How convenient.

Contributions from the financial sector account for roughly 30 percent of all money collected by the campaign committee and leadership PAC of Senate Banking Committee Chairman Chris Dodd (D-Conn.), the bill’s chief sponsor in the Senate, the Center found — the most among all senators. Dodd’s home state of Connecticut is also home to many financial industry companies and workers.

Bribery, kickbacks and corruption or simply conflict of interest?