Posts Tagged ‘funds



11
Jul
11

uncorked

TPM: … TPM readers identified the two likeminded conservatives with whom Paul Ryan shared two pricey $350 bottles of Pinot Noir Wednesday night (original story here)

….(they) were Cliff Asness and John Cochrane. Both men have doctorate degrees in economics and are well-known in the conservative media world as die-hard proponents of the free market’s ability to right itself without government bailouts when the crisis hit in late 2008.

Asness, who ordered the wine and who, according to Feinberg was the one who said “Fuck her,” is better known as a high-profile hedge fund manager. Asness founded and runs AQR Capital, which manages an estimated $26 billion in a variety of traditional products and hedge funds, and his life story has been the subject of numerous books and articles about the rise and fall of Wall Street. He’s also grabbed headlines for being one of the most voluble opponents of President Obama’s economic policies.

ABC’s Jake Tapper ran an illuminating piece on Asness in May of 2009 after he wrote an angry open letter to Obama – “Unafraid in Greenwich, Connecticut” – in which he blasted the President’s attacks on hedge fund owners refusing to go along with his administration’s plans for Chrysler.

“Who came up with the title for the letter?” Tapper asked parenthetically in his piece. “Axelrod? Perhaps ‘Bold and on My Yacht’ was too subtle.”

….In May 2009, Asness served as a guest host on CNBC’s Squawk Box and defended the $450 million in bonuses AIG executives received, arguing that President Obama and the Congress are responsible for the economic crisis and should pay the execs the bonuses themselves…..

More here

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Campaignmoney: Asness is more than just an angry millionaire – he’s a major conservative political player.

Asness was listed as an attendee at retreats held by the billionaire conservative Koch Brothers, according to the document obtained by ThinkProgess last year. Charles and David Koch bring people together at these events to “review strategies for combating the multitude of public policies that threaten to destroy America as we know it”. In January, Ryan spoke at the Koch’s California retreat….

More here

27
Jun
11

“are you a flake?” (updated)

Steve Benen: …..Fox News Sunday’s Chris Wallace apparently faced some criticism from the right over this, and he apologized, telling Fox News viewers, “I messed up. I’m sorry. I didn’t mean any disrespect.” ….It’s a shame Wallace felt the need to apologize for this, because he accidentally asked a good question, even if he regrets it now.

Societal norms apparently dictate that unhinged candidates who have no business running for president be shielded from such unpleasantness, but Michele Bachmann is arguably the most ridiculous person in Washington. She proudly embraces bizarre conspiracy theories; she routinely says crazy things on national television; she pretends to grasp public policies she doesn’t understand; and her worldview is comparable to someone who’s suffered a serious head trauma. Even as the Republican Party leaps off a right-wing cliff, Bachmann stands out for unique brand of madness.

Given this, of course response hosts should ask whether she’s a serious person. Bachmann doesn’t deserve deference; she deserves ridicule. I thought “are you a flake” was actually a rather polite way of asking a legitimate question about an unqualified candidate.

Full post (and full video) here

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LA Times: Rep. Michele Bachmann has been propelled into the 2012 presidential contest in part by her insistent calls to reduce federal spending….

But she and her family have benefited personally from government aid, an examination of her record and finances shows. A counseling clinic run by her husband has received nearly $30,000 from the state of Minnesota in the last five years, money that in part came from the federal government. A family farm in Wisconsin, in which the congresswoman is a partner, received nearly $260,000 in federal farm subsidies.

And she has sought to keep federal money flowing to her constituents. After publicly criticizing the Obama administration’s stimulus program, Bachmann requested stimulus funds to support projects in her district….

….despite her broadsides against “socialized medicine,” Bachmann’s husband, Marcus, applied for public funds for his counseling clinic, Bachmann & Associates. Since 2006, he has received nearly $30,000, according to Minnesota state records…

Michele Bachmann lists the Lake Elmo, Minn.-based clinic – which aims to provide “quality Christian counseling in a sensitive, loving environment,” according to its website – as one of her assets on her financial disclosure forms.

Another of Bachmann’s assets – a family farm owned by her late father-in-law, Paul Bachmann – received nearly $260,000 in federal money between 1995 and 2008, largely from corn and dairy subsidies …. Paul Bachmann died in May 2009, but the congresswoman retains a partnership in the farm.

Bachmann said in December that the subsidies went to her in-laws and she never received “one penny” from the farm, according to the Minneapolis Star-Tribune. However, in financial disclosure forms, she reported receiving between $32,503 and $105,000 in income from the farm, at minimum, between 2006 and 2009.

More here

AP: ..…Examining 24 of her statements, Politifact.com, the Pulitzer Prize-winning fact-checking service found just one to be fully true and 17 to be false (seven of them “pants on fire” false)….. A look at some of her recent statements and how they compare with the facts:

BACHMANN: “The farm is my father-in-law’s farm. It’s not my husband and my farm. It’s my father-in-law’s farm. And my husband and I have never gotten a penny of money from the farm.” — On “Fox News Sunday.”

THE FACTS: In personal financial disclosure reports required annually from members of Congress, Bachmann reported that she holds an interest in a family farm in Independence, Wis., with her share worth between $100,000 and $250,000…..

BACHMANN: “Overnight we are hearing that potentially 10 to 30,000 people could have been killed in the strike.” — Criticizing Obama in May for the “foolish” U.S. intervention in Libya, and citing what she said were reports of a civilian death toll from a NATO strike as high as 30,000.

THE FACTS: The U.S. ambassador to Libya, Gene Cretz, said in late April that U.S. officials have seen reports that 10,000 to 30,000 people may have died in Moammar Gadhafi’s crackdown on protesters and the fighting between rebels and pro-government forces, but it is hard to know if that is true. He was speaking about all casualties of the conflict; no one has attributed such a death toll to NATO bombing alone, much less to a single strike.

BACHMANN: “It’s ironic and sad that the president released all of the oil from the strategic oil reserve. … There’s only a limited amount of oil that we have in the strategic oil reserve. It’s there for emergencies.” — On CBS’ “Face the Nation” on Sunday.

THE FACTS: Obama did not empty all the oil from the strategic reserve, as Bachmann said. He approved the release of 30 million barrels, about 4 percent of the 727 million barrels stored in salt caverns along the Texas and Louisiana coasts….

BACHMANN: “One. That’s the number of new drilling permits under the Obama administration since they came into office.” — Comment to a conservative conference in Iowa in March.

THE FACTS: The Obama administration issued more than 200 new drilling permits before the Gulf oil spill alone. Over the past year, since new safety standards were imposed, the administration has issued more than 60 shallow-water drilling permits. Since the deep water moratorium was lifted in October, nine new wells have been approved.

More here

10
May
11

one last thing….

So, before I called it a night I was practicing that quadruple forward flip I did at the White House the other day….

….and just having one last look at that completely random photo…

….and then my email went “Ding!” and I saw this……

You know who you are, you bundle of loveliness 😉

Thank you so much!

10
May
11

‘the rejected windfall’

NYT Editorial: After Gov. Rick Scott of Florida thoughtlessly rejected $2.4 billion in federal aid for a high-speed rail line, he claimed last month that he was doing a huge favor for the national Treasury, which he expected would give away the money in tax cuts. That was nonsense, of course; Mr. Scott was really doing a favor for train passengers in the Northeast, Midwest and California, which were given $2 billion of his money on Monday for better service.

Florida voters might want to think about that decision as they sit in traffic jams, burning up $4-a-gallon gasoline. In fact, some of them clearly have thought about it because Mr. Scott now has some of the worst approval ratings of a Florida official in the last decade.

He has joined other newly elected Republican governors so rigidly opposed to the Obama administration that they are willing to harm their states to score points. The result is a crazy quilt of state relationships with Washington, stitched more with ideology than reason.

None of the money in Monday’s announcement will be going to Wisconsin, for example, where Gov. Scott Walker has also decided that his strapped state could do without rail improvements and the construction jobs that go with them. Nor will it go to Ohio, where Gov. John Kasich preferred rejectionism to the improvement of rail service among the state’s largest cities, which could have produced 16,000 jobs.

Instead, it will go to 15 states that have more farsighted leadership, who understand the important role federal dollars can play in stimulating the economy, moving people quickly from place to place and reducing tailpipe emissions. Some of those states are led by Republicans…

….Refusenik Republicans glorify shopworn principles like smaller government and states’ rights. They will have to defend them to their voters when the public hears the passenger trains whistling from the next state over.

Full editorial here

23
Mar
11

‘how the u.s. pulled off a major freeze of libyan assets’

Washington Post: The Treasury Department team had been working nonstop on a plan to freeze Libyan assets in U.S. banks, hoping they might snare $100 million or more and prevent Moammar Gaddafi from tapping it as he unleashed deadly attacks against protesters who wanted him gone.

Now, at 2:22 Friday afternoon, Feb. 25, an e-mail arrived from a Treasury official with startling news. Their $100 million estimate was off — orders of magnitude off. The e-mail said there was in “excess of $29.7 Billion — yes, that’s a B.” And most of the money was at one bank.

It was a piece of extraordinary good fortune for the Obama administration at a crucial moment in the efforts to address the bizarre and deadly events unfolding in Libya.

Never before had U.S. officials so quickly launched economic sanctions affecting so many assets of a targeted country.

The frenetic 72 hours leading up to the Executive Order 13566 illustrate how a process of identifying and freezing assets — something that customarily has taken weeks or months — has become one of the first tactical tools to employ in the midst of fast-breaking crises.

It also shows that government officials have learned from other recent economic sanction efforts, including against Iran and North Korea. Instead of being a secondary measure, as in the past, economic sanctions have become a centerpiece of national security policy.

Full article here

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Thank you so much for this link, Majii – the article is absolutely fascinating, and shows just how damn smart the Obama administration is.

20
Oct
10

oh boy, these people……

CBS: Dozens of Republicans who strongly touted their opposition to the 2009 Recovery Act have nonetheless quietly made requests for stimulus money, according to a report by the Center for Public Integrity.

The report finds that leading members of Congress — including Rep. Pete Sessions, Indiana Rep. Mike Pence, Senate Minority Leader Mitch McConnell, former presidential candidates John McCain and Ron Paul, and Tea Party favorites Michele Bachmann and Sen. Scott Brown – have discreetly requested stimulus funds despite their public opposition to the initiative.

Sessions, a Texas Republican, has repeatedly decried the law as a “trillion dollar spending spree” that was “more about stimulating the government and rewarding political allies than growing the economy and creating jobs.” But in February of 2010, Sessions wrote to Transportation Secretary Ray LaHood urging him to allocate $81 million in stimulus money for a project in an affluent Texas suburb, according to the report.

In his letter of request, Sessions changed his tone regarding the potential usefulness of stimulus aid in relieving recession-related hardships. “Carrollton’s project will create jobs, stimulate the economy, improve regional mobility and reduce pollution,” he wrote.

Conservative advocacy groups that oppose the Recovery Act have expressed their dismay at news of the discrepancy between rhetoric and reality on the part of some lawmakers.

“The GOP should not be taking this money and spending it regardless of where it came from,” Rob Gaudet, national coordinator for Tea Party Patriots, said to the Center for Public Integrity. “They should be fighting against it with every fiber of their elected beings.”




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