Thursday, March 19, 2009

More Dem Wall St. Corruption

Follow the money. No matter how often you hear the phrase it still rings true. Consequently, I am not surprised that a top aide of Sen. Chuck Schumer, Hank Morris, has been indicted for being bpaid to use political connections to guide New York State Pension funds in to specific hedge funds. One of the main culprits is The Carlyle Group, a big Democrat donor. Cornell Law School professor William Jacobson describes the tangled web of corruption in his excellent blog Legal Insurrection.

One thing is for sure, its not a coincidence that Wall St. has contributed heavily to Democrats over the last several years, including the usual culprits of Dodd, Frank, Clinton, Schumer, and Obama. In fact Wall St. has abandoned the republican party to lavish large amounts of campaign money on the Dems in the last election. The Senators Schumer and Clinton have undoubtedly played a large role in this changing of the tide. It is interesting that when Wall St. is behaving most corruptly and irresponsibly is also when it is most closely entwined with the Dems. All I know is that this investigation should move beyond Schumer, and hedge funds, to address the corrupt relationships between Obama, Clinton, Schumer, Dodd, Frank, and the banks, investments firms, and insurance companies that have benefited from bailouts and other legislation, while donating obscene amounts of money to political campaigns in exchange for legislative favors.

In a related note, the media has largely ignored the fact that histories second greatest swindler, Bernie Madoff is a huge Dem donor. (I say second biggest because Madoff's ponzi scheme pales in comparison to the government run ponzi scheme called Social Security.) A list of Madoff contributions by Jerome R. Corsi at World Net Daily:

  • Sen. Charles Schumer, D-N.Y.: $2,000 in 2002, $6,000 in 2004 and another $2,000 in 1998;

  • Sen. Hillary Rodham Clinton, D-N.Y.: $1,000 in 2000

  • House Majority Leader Richard Gephardt, D-Mo, presidential campaign: $2,000 in 2003;

  • Rep. Charles Rangel, D-N.Y.: $1,000 in 2001; $1,000 in 1998;

  • Sen. Frank Lautenberg, D-N.J.: $10,200 in 2007; $1,000 in 2004;

  • Gov. Jon Corzine, D-N.J.: $1,000 in 1999.

Madoff appears to have gotten around rules limiting campaign contributions. For instance, he contributed not only to Schumer's campaign but also to a group called "The Friends of Schumer."

Madoff also contributed to Lautenberg's campaign and to the senator's NJ Victory Committee.

Madoff appears to have contributed more than $100,000 to the Democratic Senatorial Campaign Committee while Schumer was chairman, including a $25,000 contribution in 2005. at the Center for Responsive Politics reports that Madoff and other individuals at his company, Bernard L. Madoff Investment Securities, gave $372,100 in campaign contributions beginning in 1991, with 89 percent going to Democrats.

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