American Ruling Class

Pelosi: Congressional pay cut undermines dignity of the job

"House Minority Leader Nancy Pelosi (D-Calif.) said Thursday that she opposes a cut in congressional pay because it would diminish the dignity of lawmakers' jobs. 'I don't think we should do it; I think we should respect the work we do,' Pelosi told reporters in the Capitol. 'I think it's necessary for us to have the dignity of the job that we have rewarded.' Pelosi, whose husband is a wealthy real-estate developer, was quick to note that a cut in her own pay would be far less significant than that for both staffers and less wealthy members of Congress." Continue reading →

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Rangel wants women to be drafted

"Rep. Charles Rangel (D-N.Y.) on Friday said he plans to introduce legislation that would bring back the military draft and extend it to women for the first time. Rangel, who has pushed for years to bring back the draft, said the Pentagon’s decision to allow women to serve in combat means that they too should register for the Selective Service. In an interview on MSNBC, Rangel said the draft should be reinstated because the majority of Americans make 'no real sacrifice' when the country goes to war." Continue reading →

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Paper Claims SEC Regulation is Biased … In Other News, Sky Is Blue

"Former U.S. Securities and Exchange Commission staffers who now work in the private sector may have helped derail last year's effort to reform the $2.6 trillion money market fund industry, a report said. The case study on money market fund lobbying is part of a 60-page report by the Project on Government Oversight (POGO). It is one example within a broader review by the non-profit government watchdog that examines in detail how the 'revolving door' at the SEC may have impacted policy and enforcement decisions over a 10-year period." Continue reading →

Continue ReadingPaper Claims SEC Regulation is Biased … In Other News, Sky Is Blue

SEC Head Nominee Mary Jo White’s Latest Conflict of Interest

"Here’s the big question for Mary Jo White: If she becomes chairman of the Securities and Exchange Commission, where will her interests lie? With the public that pays her salary? Or with the people handing her the big bucks? White is the white-collar defense lawyer and former U.S. attorney nominated by President Barack Obama to lead the SEC. Upon leaving New York-based Debevoise & Plimpton LLP, the law firm will give her $42,500 a month in retirement pay for life, or more than $500,000 a year. This means she has a direct interest in Debevoise’s future profits, and therefore an incentive to help make sure only good things come the firm’s way." Continue reading →

Continue ReadingSEC Head Nominee Mary Jo White’s Latest Conflict of Interest

Jack Lew: The Rookie

"New York Democrat Chuck Schumer said the Treasury nominee has an 'uncanny ability to delve into a subject' and 'master it.' Americans can only hope, because you wouldn't know it based on the little that Mr. Lew claims to have known about what happened during his tenure at Citigroup from 2006-2008. He was a senior executive at the giant failing bank before and during the financial crisis, but he gave the impression he was there mostly to cash a paycheck. When Orrin Hatch ticked off the problems that afflicted the two Citi divisions that Mr. Lew oversaw as chief operating officer, the nominee seemed to know less about them than Mr. Hatch." Continue reading →

Continue ReadingJack Lew: The Rookie

Banks, at Least, Had a Friend in Geithner

"As financial adviser to the president in the tumultuous years immediately after the credit crisis, Mr. Geithner had immense sway over the government’s approach to all things economic. For everyday Americans, his major tasks included responding to the home foreclosure mess, unwinding federal bailouts under the Troubled Asset Relief Program and tackling the problem of financial institutions that are too big to manage and too interconnected for America’s good. But in scanning these agenda items, a pattern of winners and losers emerges. Let’s just say the financial institutions that dominate the United States were rarely on the losing end in the Geithner years." Continue reading →

Continue ReadingBanks, at Least, Had a Friend in Geithner

Another Hypocritical Leftist Caught with His Hand in the Tax-Haven Cookie Jar

"Treasury secretary nominee Jack Lew will face questions at his confirmation hearing next week about an investment fund registered in a Cayman Islands building that has been called a notorious site for tax haven abuse. Lew held between $50,000 and $100,000 in the fund… The investment fund could become an issue during the upcoming hearing because Lew’s job as Treasury secretary would give him a major role in shaping the administration’s tax policy. The president has targeted tax haven abuse as a major problem in the country’s tax system." Continue reading →

Continue ReadingAnother Hypocritical Leftist Caught with His Hand in the Tax-Haven Cookie Jar

Do US drone kills need an oversight board? How would it work?

"Should the US establish some sort of secret court to conduct judicial oversight of drone strikes used to kill terror suspects? Committee Chairman Sen. Dianne Feinstein (D) of California said that the time has come to shine a light on the drone program and any other method of targeted killing used in the war against terrorism. She and other senators, she said, were considering legislation establishing a secret court to oversee the targeted killing process, similar to the Foreign Intelligence Surveillance court, which now looks at national security wiretap applications within the US." Continue reading →

Continue ReadingDo US drone kills need an oversight board? How would it work?

Former Target Store Manager to Oversee Nation’s Nuclear Security

"Ever since last summer, when a 82-year-old nun broke into the Y-12 nuclear weapons complex in Oak Ridge, Tennessee, the National Nuclear Security Administration has scrambled to improve its leadership and beef up security at America's nuke facilities. Now it appears the agency has found the man for the job: NNSA has named as its acting head of nuclear security Steve Asher, a retired Air Force colonel who less than four years ago was working as a 'team leader' at a Target store in Spokane, Washington. Prior to that, he commanded a missile base in Montana that flunked a nuclear security test within five months of his departure." Continue reading →

Continue ReadingFormer Target Store Manager to Oversee Nation’s Nuclear Security