This Week In The News
This week, the NYT told the sordid tale of Giuliani Partners' representation of Purdue Pharma. Faced with both DEA and Justice Department investigations into alleged misrepresetations regarding the painkiller Oxycontin, Purdue turned to America's Mayor to bail them out. For a hefty consulting fee, Rudy was able to derail the DEA probe, but the company and its executives were eventually indicted and pled guilty to various criminal charges brought by the US Attorney in Virgina. All this despite some six attempts by Rudy G to convince the ASUSA to drop the case. Commenting on his role as lobbyist to the pecunious, Rudy G stated that " I have consistently and proudly protected the privileged and powerful from any hint of accountability and have spun there stories faithfully. Without me, many an executive would be without a lear jet, many a stock option would be under water, many a contractor would be without a lucrative defense contract. I am nothing if not the Mayor of America Inc."
This week, the Wall Street Journal, reported on Ameriquest Mortgage's expensive efforts to avoid state regulation of its high risk [sub prime] mortgage business. Seems that Ameriquest and other mortgage lenders such as Wells Fargo spent tens of millions lobbying state legislatures, hoping to avoid any regulation on the type of high risk mortgage loans that eventually triggered the current mortgage meltdown. Speaking on behalf of Ameriquest, Morgan Crist stated, "Listen, it was the 2004. Bush is in office. We wrote a check. Said we were from the business community. Mumbled something about burdensome regulation and letting the market decide and sure enough, the bills we were concerned about disappeared in some committee like fruitcake at the holidays."
Last week, hundreds of supporters of former Governor Mike Huckabee jammed the Des Moines Sheraton to hear their candidate speak. What they got was a one hour sales pitch from Quixtar, the internet arm of the pyramid marketing giant, Amway. Huckabee appeared only after an hour and then only briefly. According to the Chicago Tribune, Huckabee agreed to attend the event because of his close ties to the conservative families that own Amway as well as their associated right wing foundations. Asked if his open alliance with Amway could hurt his candidacy, Huckabee responded, "Not really. See, my problem is that many perceive me as some sort of prarie populist. I needed to reassure voters that I was firmly in the pocket of corporate America and the conervative agenda they promote. No maverick I. No sir. Big Big Money behind everything I do. " Huckabee then attempted to sell some five gallons of liquid soap to the assembled reporters.
This week, the Wall Street Journal, reported on Ameriquest Mortgage's expensive efforts to avoid state regulation of its high risk [sub prime] mortgage business. Seems that Ameriquest and other mortgage lenders such as Wells Fargo spent tens of millions lobbying state legislatures, hoping to avoid any regulation on the type of high risk mortgage loans that eventually triggered the current mortgage meltdown. Speaking on behalf of Ameriquest, Morgan Crist stated, "Listen, it was the 2004. Bush is in office. We wrote a check. Said we were from the business community. Mumbled something about burdensome regulation and letting the market decide and sure enough, the bills we were concerned about disappeared in some committee like fruitcake at the holidays."
Last week, hundreds of supporters of former Governor Mike Huckabee jammed the Des Moines Sheraton to hear their candidate speak. What they got was a one hour sales pitch from Quixtar, the internet arm of the pyramid marketing giant, Amway. Huckabee appeared only after an hour and then only briefly. According to the Chicago Tribune, Huckabee agreed to attend the event because of his close ties to the conservative families that own Amway as well as their associated right wing foundations. Asked if his open alliance with Amway could hurt his candidacy, Huckabee responded, "Not really. See, my problem is that many perceive me as some sort of prarie populist. I needed to reassure voters that I was firmly in the pocket of corporate America and the conervative agenda they promote. No maverick I. No sir. Big Big Money behind everything I do. " Huckabee then attempted to sell some five gallons of liquid soap to the assembled reporters.
posted by Jack Reed at 12:44 PM
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