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Financial Bailout: Who's minding the store?
By Bill Allison Sep 24, 2008 10:31 p.m.As Congress begins wrestling with the Bush administration's financial industry bailout legislation (and Sen. Christopher Dodd's alternative), perhaps it's worth asking who are these folks who may well be deciding the economic fate of the nation? In this post (which took me about five hours longer to put together than I'd anticipated; hint to Labs: we need to design a tool to do this stuff faster), we take a look at the Senate Banking Committee and the House Finance Committee. Specifically, we look at how much of the campaign cash raised by members of those committees has come from the industries at the epicenter of the crisis -- finance, insurance and real estate -- over the course of their careers.
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Financial Bailout: Who does Dodd see at his fundraisers?
By Bill Allison Sep 24, 2008 2 a.m.Among Sen. Christopher Dodd's top career donors are employees, their family members and PACs of the following players in the nation's financial meltdown: Citigroup ("written off and lost $53.6 billion through the credit crunch so far, which is more than any other bank or broker,") Bear Stearns ("Bear Stearns's mortgage business, a big driver of profits, has been eviscerated,"), SAC Capital Partners (vehemently denies charge that they helped bring down Bear Stearns), American International Group (saved by an emergency $85 billion rescue), Goldman Sachs and Morgan Stanley (each of which are morphing into bank holding companies), Greenwich Capital Markets ("a top issuer of mortgage-backed securities in the subprime market, Royal Bank of Scotland (which owns Greenwich Capital Markets), Credit Suisse Group (which misled some investors about its auction rate securities), Merrill Lynch (which needed Bank of America to rescue it), J.P. Morgan Chase & Co. (which bought Bear Stearns) and Lehman Brothers (which failed).
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How confusing are earmark disclosures?
By Bill Allison Jul 30, 2008 4:53 p.m.When Rep. Neil Abercrombie requested an earmark in the Military Construction and Veterans Affairs Appropriations bill to fund "Saddle Road Phase 5," he listed (on page two of that mega file courtesy of Taxpayers for Common Sense), the "U.S. Army Garrison Hawaii, located at Schofield Barracks, Hawaii" as the entity that was the recipient of the funds. Search the spread sheet Taxpayers compile for the list of earmarks in that bill, and only one Abercrombie request turns up: a $9 million earmark for "Access Road, Ph 1" in Pohakuloa TA.
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Does the EPA collect SF-LLLs?
By Anupama Narayanswamy Jul 20, 2007 8:35 p.m.Browsing through the 2008 Senate Interior and Environment Appropriations Bill on the Taxpayers for Common Sense site, I noticed that one of the largest amounts ($11 million) was earmarked to the National Rural Water Association a non-profit organization that provides training and technical assistance and gives out sub-grants to water providers in rural areas. They receive grants from the USDA and the EPA.
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FHWA discouraging FOIA requests from potential contractors?
By Bill Allison Jul 9, 2007 9:02 p.m.Here's a little information on something we started looking into last February:
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Earmarks: Tip of the Iceberg?
By Bill Allison Apr 9, 2007 1:52 a.m.Three paragraphs jumped out at me from the final chapter of Robert G. Kaiser's excellent Washington Post series, Citizen K Street:
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