Showing posts with label Steve Corbett. Show all posts
Showing posts with label Steve Corbett. Show all posts
Thursday, October 14, 2010
Friday, July 16, 2010
Ed Mitchell's WILK RANT
Yesterday on WILK Steve Corbett read an email sent by Ed Mitchell to him about Lou Barletta. Here is the response to part of the substance of his claims.
Fact 1: Hazleton is not nor can it be bankrupt And it is not broke either- Why? Have Ed Mitchell personally supply me with the bankruptcy filing for Hazleton. It doesn't exist. Wilkes Barre is in financial hardship and so is Scranton. Scranton's been in Act 47 for since 1992. Is Mitchell crowing about Doherty? Even Reading is in financial distress. Heck the country is in financial distress.
Hazleton's property tax millage is currently at 2.38 due to reassessment. Previously the millage was 25 mills with another 5 mills permitted by Luzerne County Court every year for a total of thirty mills per Third Class City Code. Hazleton was at 30 mills for at least 30+ years leaving it cash strapped over time with ever increasing costs.
After reassessment the millage was dropped to 1.4 last year. Hazleton City Council approved an increase to 2.38 this year. Since Third Class City Code permits cities like Hazleton to assess up to 25 mills it has a long way to go before it will ever be bankrupt or broke.
On the contrary unlike the federal government that can keep printing money Hazleton is trying to live within its means. It is reducing spending and laying off personnel. Their audit will prove those facts to be true for this year. They are not running up accumulated debt unlike Maryann Petrilla and theDemocrats of Luzerne County(last report $466 million), Ed Rendell, Todd Eachus and Pennsylvania( $40 billion or a 73% increase since 2002 ), and Barack Obama and Paul Kanjorski($13 Trillion and counting ).
Barletta found alternative solutions to prevent tax hikes before reassessment when Hazleton's tax rate was stalled at 25 mills by the same law for over 30 years. Imagine trying to run a business with the same income for the last 30 years(his tenure the last ten of those) while everything else went up. And he doesn't want to raise taxes although he and council were forced to this year just to keep the city operating.
It is true that property taxes were raised 70% this year but it amounts to $98.00 per $100,000.00 assessment and hadn't been raised for over 30 years. Since the average home in Hazleton is valued at less than $100,000.00 the impact is not as bad as it could be. Hazleton City government was sensitive to the burden it would place on taxpayers. Coupled with that tax increase was pending layoffs that will start next week.
Instead of raising taxes the City has an opportunity to sell the water assets of the HCA which is permitted by Pennsylvania law. Water rates may increase but they are going to increase anyway. There are too many miles of 80 year old water lines in Hazleton to prevent that from occurring. And the fiscal impact of water rates will monetarily be less than the tax consequences.
Fact 2: Citing the report in Hazleton's unemployment is totally inaccurate.- Why? The official from the state who was in charge of those figures stated they were misleading and should not be relied on from a statistical sense. "Sholly said the figure is a little misleading:" It should be no surprise that neither Mitchell nor Kanjorski would want to be honest about that fact.
Hazleton does not have industrial parks located within its boundaries. The Valmont Industrial Park, Humboldt Industrial Park, the McAdoo Industrial Park, and the Butler Industrial Park are all located outside its boundaries. The reason any figure on Hazleton is misleading is due to the residency of the people employed in those parks. Anyone working outside of Hazleton who is laid off would be counted as a residential statistic of Hazleton, not the place where they are employed
( "Data refer to place of residence ") .
That is the reason the government created Local Area Unemployment Statistics. In order for your statistics to be valid the sample must be broad enough to be meaningful, therefore it is better to look at a region or county. Here is a link to a state file that shows unemployment by county on page 12. Look at this chart located on the CanDo web page showing that unemployment in Luzerne County has been steadily rising.
Companies in those parks include ADM, Cargill, Hershey, OfficeMax, Nature's Bounty, Amazon, Quebecor, Autozone, and more. Those are national companies. The reason people are getting laid off is due to the national economy, not lack of sales to local merchants or customers. It is Paul Kanjorski and Barack Obama policies that are responsible for the national trends, not Lou Barletta.
Kanjorski made the claim that the stimulus program would create/save 7,700 jobs in his district when it was passed.
Any unemployment figure reported for Luzerne County or Hazleton for that matter is reflective of the ineffectiveness of the stimulus program to really create jobs. A look at Recovery.gov shows that only 131 jobs were created in the 11th Congressional district for the first quarter of this year. And the cost to create those jobs was over $329 million. What a dismal showing and hardly anywhere near 7,700.
"It's certainly is a very big stimulus bill, a very big stimulus bill, some politicians give you a lot less substance than their political rhetoric" I hear Clara Peller calling out to Paul Kanjorski "Where's The Jobs"?
Fact 1: Hazleton is not nor can it be bankrupt And it is not broke either- Why? Have Ed Mitchell personally supply me with the bankruptcy filing for Hazleton. It doesn't exist. Wilkes Barre is in financial hardship and so is Scranton. Scranton's been in Act 47 for since 1992. Is Mitchell crowing about Doherty? Even Reading is in financial distress. Heck the country is in financial distress.
Hazleton's property tax millage is currently at 2.38 due to reassessment. Previously the millage was 25 mills with another 5 mills permitted by Luzerne County Court every year for a total of thirty mills per Third Class City Code. Hazleton was at 30 mills for at least 30+ years leaving it cash strapped over time with ever increasing costs.
After reassessment the millage was dropped to 1.4 last year. Hazleton City Council approved an increase to 2.38 this year. Since Third Class City Code permits cities like Hazleton to assess up to 25 mills it has a long way to go before it will ever be bankrupt or broke.
On the contrary unlike the federal government that can keep printing money Hazleton is trying to live within its means. It is reducing spending and laying off personnel. Their audit will prove those facts to be true for this year. They are not running up accumulated debt unlike Maryann Petrilla and theDemocrats of Luzerne County(last report $466 million), Ed Rendell, Todd Eachus and Pennsylvania( $40 billion or a 73% increase since 2002 ), and Barack Obama and Paul Kanjorski($13 Trillion and counting ).
Barletta found alternative solutions to prevent tax hikes before reassessment when Hazleton's tax rate was stalled at 25 mills by the same law for over 30 years. Imagine trying to run a business with the same income for the last 30 years(his tenure the last ten of those) while everything else went up. And he doesn't want to raise taxes although he and council were forced to this year just to keep the city operating.
It is true that property taxes were raised 70% this year but it amounts to $98.00 per $100,000.00 assessment and hadn't been raised for over 30 years. Since the average home in Hazleton is valued at less than $100,000.00 the impact is not as bad as it could be. Hazleton City government was sensitive to the burden it would place on taxpayers. Coupled with that tax increase was pending layoffs that will start next week.
Instead of raising taxes the City has an opportunity to sell the water assets of the HCA which is permitted by Pennsylvania law. Water rates may increase but they are going to increase anyway. There are too many miles of 80 year old water lines in Hazleton to prevent that from occurring. And the fiscal impact of water rates will monetarily be less than the tax consequences.
Fact 2: Citing the report in Hazleton's unemployment is totally inaccurate.- Why? The official from the state who was in charge of those figures stated they were misleading and should not be relied on from a statistical sense. "Sholly said the figure is a little misleading:" It should be no surprise that neither Mitchell nor Kanjorski would want to be honest about that fact.
Hazleton does not have industrial parks located within its boundaries. The Valmont Industrial Park, Humboldt Industrial Park, the McAdoo Industrial Park, and the Butler Industrial Park are all located outside its boundaries. The reason any figure on Hazleton is misleading is due to the residency of the people employed in those parks. Anyone working outside of Hazleton who is laid off would be counted as a residential statistic of Hazleton, not the place where they are employed
( "Data refer to place of residence ") .
That is the reason the government created Local Area Unemployment Statistics. In order for your statistics to be valid the sample must be broad enough to be meaningful, therefore it is better to look at a region or county. Here is a link to a state file that shows unemployment by county on page 12. Look at this chart located on the CanDo web page showing that unemployment in Luzerne County has been steadily rising.
Companies in those parks include ADM, Cargill, Hershey, OfficeMax, Nature's Bounty, Amazon, Quebecor, Autozone, and more. Those are national companies. The reason people are getting laid off is due to the national economy, not lack of sales to local merchants or customers. It is Paul Kanjorski and Barack Obama policies that are responsible for the national trends, not Lou Barletta.
Kanjorski made the claim that the stimulus program would create/save 7,700 jobs in his district when it was passed.
Any unemployment figure reported for Luzerne County or Hazleton for that matter is reflective of the ineffectiveness of the stimulus program to really create jobs. A look at Recovery.gov shows that only 131 jobs were created in the 11th Congressional district for the first quarter of this year. And the cost to create those jobs was over $329 million. What a dismal showing and hardly anywhere near 7,700.
"It's certainly is a very big stimulus bill, a very big stimulus bill, some politicians give you a lot less substance than their political rhetoric" I hear Clara Peller calling out to Paul Kanjorski "Where's The Jobs"?
Friday, July 9, 2010
FINRA Event At Woodlands With Paul Kanjorski- Dog And Pony Show
Two days ago Congressman Paul Kanjorski appeared on the Steve Corbett Talk Show on WILK News Radio. At 10 minutes and 14 seconds he tries to proffer that HE has an "Open Town Hall Meeting" and "fortunately we have 300 people coming to it". Kanjorsk states that the event is "sponsored by FINRA" after he requested they put on the forum.
From his own remarks Kanjorski admits using a non-profit, FINRA, to sponsor a forum that is nothing more than a "political stump" for himself but at the expense of the non-profit.
According to their website (FINRA) The Financial Industry Regulatory Authority (FINRA) is the largest independent regulator for all securities firms doing business in the United States. All told, FINRA oversees nearly 4,700 brokerage firms, about 167,000 branch offices and approximately 635,000 registered securities representatives.
In today's fast-paced and complex global economy, FINRA is a trusted advocate for investors, dedicated to keeping the markets fair, ensuring investor choice and proactively addressing emerging regulatory issues before they harm investors or the markets. So how well did this "independent regulator" work to prevent our recent economic meltdown?
Larry Doyle, a Wall Street veteran, offers his perspective on this FINRA event involving Congressman Kanjorski at the Woodlands Resort in Plains on June 21, 2010.
I can be heard on The Sue Henry Show this morning, shortly after 11am ET. Sue’s show is broadcast on WILK Newsradio in Wilkes-Barre, Pennsylvania.
We will be talking about our favorite financial regulator, FINRA. Representative Paul Kanjorski (D-PA) is scheduled for a dog and pony show with FINRA in early July (details here). The fact is, Kanjorski is a member of two Congressional subcommittees which received a letter from the Project on Government Oversight (POGO) questioning the very validity of the self-regulatory model on Wall Street. Those questions are embodied in my commentary from February 23rd, Is FINRA’s Future in Doubt?.
Kanjorski should forget the dog and pony show and call FINRA on the carpet to answer for the massive shortcomings and transgressions within its purview over the last few years..
In another post Mr. Doyle writes that FINRA member firm Amerivet Securities has submitted seven proposals to be included in the FINRA proxy materials. The FINRA board and executives owe their member firms, and ultimately America, the opportunity to address and then receive complete answers on each of these proposals.
Proxy Proposal 1 – Disclosure of Compensation of FINRA’s Top Ten Most Highly Compensated Employees
Proxy Proposal 2 – Independent Study of Current and/or Former FINRA Officer and/or Director Involvement with the Madoff Family- FINRA shall commission an independent study of the dealings between present and/or former FINRA officers and directors, on the one hand, and Bernard L. Madoff, members of his family and/or their respective affiliates on the other.
Proxy Proposal 3— – Transparency of FINRA Investment Policies, Practices and Transactions
Proxy Proposal 4—- FINRA Board of Governors Meetings to Be Made Public Except When Absolutely Necessary
Proxy Proposal 5 – “Say on Pay” for Top Five Most Highly Compensated FINRA Employees
Proxy Proposal 6 – Creation and Employment of an Independent Private Sector Inspector General- Beginning on September 1, 2010, FINRA shall employ an independent private sector inspector general (“Inspector”) on a standing basis to investigate claims of misconduct by FINRA executives and employees or others acting on its behalf.
Proxy Proposal 7 – Disclosure of IRS Correspondence Concerning $35,000 NASD Member Payment
Steve Corbett prided himself as a spokesperson for the masses. He usually is methodical on information. He explodes every time more corruption is exposed in Lackawanna and Luzerne County. I am having a hard time understanding his kids gloves treatment of Kanjorski. He should be pounding him hard over any group that has concerns over transactions by Bernie Madoff.
Steve, I challenge you to ask this question. Who paid for the food served at this forum? Free FINRA Investor Forum Featuring Top Regulators, Congressman Kanjorski Slated for July 8 in Wilkes-Barre
Admission to the forum, which includes a complimentary buffet dinner, is free – but because space is limited, registration is strongly encouraged. Those who wish to register may do so online at www.finra.org/investorforum/wilkes-barre or by calling toll-free (877) 586-2737.
Thursday, July 85:30 p.m. – 6:30 p.m. Registration & Buffet Dinner
6:30 p.m. – 8:00 p.m. Program
The Barletta campaign issued this press release about the FINRA event on June 29th.
“The FINRA event is nothing more than dinner theater from Paul Kanjorski and his Wall Street pals,” said Vince Galko, Mayor Barletta’s campaign spokesman. “Those who attend this event will be treated to dinner and a show, but they will not hear what Kanjorski should explain – how he can claim to remain a regulator of the industries that gave him more than $4.25 million in campaign cash.”
Was Larry Doyle's criticism the type that Corbett questioned Kanjorski about on his show?
Maybe Corbett should revisit his interview with Kanjorski and ask about FINRA's attachment to an alleged ponzi scheme as highlighted in this Fox Business News report- Al Lewis: Finra a Career Path to an Alleged Ponzi.
Regulators often join the ranks of the regulated.
It pays better.
But do they really have to become compliance officers for the biggest alleged Ponzi schemes in history?
Bernerd Young spent decades working for the National Association of Securities Dealers, which is now known as the Financial Industry
Regulatory Authority.
In July 2006, Young went to work for the now indicted and imprisoned R. Allen Stanford.
Finra barely makes mention of Young's embarrassing career move in a recent mea culpa report on how it missed the massive Bernie Madoff and Stanford debacles.
"Finra's Dallas office is a long-standing NASD-legacy office." the report said in a footnote. "From 1999 to 2003, the office was headed by Bernerd Young. In 2003, Young was replaced. ...
"After serving for a period of time as a securities industry consultant, Young was hired as the Managing Director of Compliance for the Stanford firm in June 2006, a position he held through 2009."
Finra, however, does not want anyone to get the idea that Stanford hired a former Finra guy to ward off Finra and sustain his alleged $7.5 billion Ponzi for a few more years.
"The interviews of current Finra employees and review of exam files identified no information to suggest that Young's presence at the firm compromised Finra's subsequent examinations," the report said.
Finra began getting tips that Stanford was running a massive Ponzi scheme in September 2003, the report said. But Finra failed to act upon them.
And, despite its lengthy report citing a litany of excuses, Finra has failed to understand why.
The report is based solely on interviews with Finra employees who dropped the regulatory balls. This is like interviewing stupid people to try to learn why they are so stupid.
Stupid people don't always know that they're stupid. And regulators don't always know a potential Ponzi scheme from a potential employer.
Young did not return an email and a phone call I placed to his office in The Woodlands, Texas.
Guess "the Woodlands" must have more than one meaning.
Finally read this article about the future of FINRA from the Wall Street Pit. The letter in it is the same letter referred to by Larry Doyle above.
Are the days of Wall Street’s self-regulatory organization known as FINRA numbered?
In the opinion of the very credible Project on Government Oversight, they should be. Why? Significant failures, massive conflicts of interest, and more. POGO’s comprehensive and scathing letter to four separate House and Senate committees touches upon every failing within FINRA, with the exception of the integrity of the proxy statement used in the formation of the organization itself. Strong allegations in a current lawsuit against FINRA make the case that Mary Schapiro lied verbally during roadshows and in the proxy statement.
America deserves to be introduced to the organization that, in my opinion, squarely has a foot in both the Wall Street and Washington camps. I make no excuses in categorically stating that FINRA defined the Wall Street-Washington incestuous relationship.
I have no interest in vindication of my writing so much about FINRA over the last thirteen months. I have every interest in exposing the issues embedded in this organization. America needs to truly learn about the issues surrounding FINRA and how and why this organization failed to uphold its charge to protect investors.
I congratulate POGO for bringing these issues to the Hill. I humbly submit and STRONGLY recommend you read, review, and share this letter with friends and colleagues.
The pursuit of truth, transparency, and integrity within the Wall Street financial regulatory system goes to a whole new level with this letter:
February 23, 2010
House Committee on Financial Services
House Committee on Oversight and Government Reform
Senate Committee on Banking, Housing, & Urban Affairs
Senate Committee on Finance
Dear Chairman and Ranking Member:
The Project On Government Oversight (POGO) is writing to raise concerns that Congress’s efforts to reform the financial regulatory system have not adequately addressed the failures of the private self-regulatory organizations (SROs) that are tasked with protecting the investing public and maintaining the integrity of our financial markets. Specifically, we urge you to take a much closer look at the Financial Industry Regulatory Authority (FINRA)–an SRO that regulates thousands of securities brokerage firms–and to consider whether FINRA can ever be an effective regulator given its cozy relationship with the securities industry.......
Sincerely,
Danielle Brian
Executive Director
And the cozy relationship with Paul Kanjorski.
From his own remarks Kanjorski admits using a non-profit, FINRA, to sponsor a forum that is nothing more than a "political stump" for himself but at the expense of the non-profit.
According to their website (FINRA) The Financial Industry Regulatory Authority (FINRA) is the largest independent regulator for all securities firms doing business in the United States. All told, FINRA oversees nearly 4,700 brokerage firms, about 167,000 branch offices and approximately 635,000 registered securities representatives.
In today's fast-paced and complex global economy, FINRA is a trusted advocate for investors, dedicated to keeping the markets fair, ensuring investor choice and proactively addressing emerging regulatory issues before they harm investors or the markets. So how well did this "independent regulator" work to prevent our recent economic meltdown?
Larry Doyle, a Wall Street veteran, offers his perspective on this FINRA event involving Congressman Kanjorski at the Woodlands Resort in Plains on June 21, 2010.
I can be heard on The Sue Henry Show this morning, shortly after 11am ET. Sue’s show is broadcast on WILK Newsradio in Wilkes-Barre, Pennsylvania.
We will be talking about our favorite financial regulator, FINRA. Representative Paul Kanjorski (D-PA) is scheduled for a dog and pony show with FINRA in early July (details here). The fact is, Kanjorski is a member of two Congressional subcommittees which received a letter from the Project on Government Oversight (POGO) questioning the very validity of the self-regulatory model on Wall Street. Those questions are embodied in my commentary from February 23rd, Is FINRA’s Future in Doubt?.
Kanjorski should forget the dog and pony show and call FINRA on the carpet to answer for the massive shortcomings and transgressions within its purview over the last few years..
In another post Mr. Doyle writes that FINRA member firm Amerivet Securities has submitted seven proposals to be included in the FINRA proxy materials. The FINRA board and executives owe their member firms, and ultimately America, the opportunity to address and then receive complete answers on each of these proposals.
Proxy Proposal 1 – Disclosure of Compensation of FINRA’s Top Ten Most Highly Compensated Employees
Proxy Proposal 2 – Independent Study of Current and/or Former FINRA Officer and/or Director Involvement with the Madoff Family- FINRA shall commission an independent study of the dealings between present and/or former FINRA officers and directors, on the one hand, and Bernard L. Madoff, members of his family and/or their respective affiliates on the other.
Proxy Proposal 3— – Transparency of FINRA Investment Policies, Practices and Transactions
Proxy Proposal 4—- FINRA Board of Governors Meetings to Be Made Public Except When Absolutely Necessary
Proxy Proposal 5 – “Say on Pay” for Top Five Most Highly Compensated FINRA Employees
Proxy Proposal 6 – Creation and Employment of an Independent Private Sector Inspector General- Beginning on September 1, 2010, FINRA shall employ an independent private sector inspector general (“Inspector”) on a standing basis to investigate claims of misconduct by FINRA executives and employees or others acting on its behalf.
Proxy Proposal 7 – Disclosure of IRS Correspondence Concerning $35,000 NASD Member Payment
Steve Corbett prided himself as a spokesperson for the masses. He usually is methodical on information. He explodes every time more corruption is exposed in Lackawanna and Luzerne County. I am having a hard time understanding his kids gloves treatment of Kanjorski. He should be pounding him hard over any group that has concerns over transactions by Bernie Madoff.
Steve, I challenge you to ask this question. Who paid for the food served at this forum? Free FINRA Investor Forum Featuring Top Regulators, Congressman Kanjorski Slated for July 8 in Wilkes-Barre
Admission to the forum, which includes a complimentary buffet dinner, is free – but because space is limited, registration is strongly encouraged. Those who wish to register may do so online at www.finra.org/investorforum/wilkes-barre or by calling toll-free (877) 586-2737.
Thursday, July 85:30 p.m. – 6:30 p.m. Registration & Buffet Dinner
6:30 p.m. – 8:00 p.m. Program
The Barletta campaign issued this press release about the FINRA event on June 29th.
“The FINRA event is nothing more than dinner theater from Paul Kanjorski and his Wall Street pals,” said Vince Galko, Mayor Barletta’s campaign spokesman. “Those who attend this event will be treated to dinner and a show, but they will not hear what Kanjorski should explain – how he can claim to remain a regulator of the industries that gave him more than $4.25 million in campaign cash.”
Was Larry Doyle's criticism the type that Corbett questioned Kanjorski about on his show?
Maybe Corbett should revisit his interview with Kanjorski and ask about FINRA's attachment to an alleged ponzi scheme as highlighted in this Fox Business News report- Al Lewis: Finra a Career Path to an Alleged Ponzi.
Regulators often join the ranks of the regulated.
It pays better.
But do they really have to become compliance officers for the biggest alleged Ponzi schemes in history?
Bernerd Young spent decades working for the National Association of Securities Dealers, which is now known as the Financial Industry
Regulatory Authority.
In July 2006, Young went to work for the now indicted and imprisoned R. Allen Stanford.
Finra barely makes mention of Young's embarrassing career move in a recent mea culpa report on how it missed the massive Bernie Madoff and Stanford debacles.
"Finra's Dallas office is a long-standing NASD-legacy office." the report said in a footnote. "From 1999 to 2003, the office was headed by Bernerd Young. In 2003, Young was replaced. ...
"After serving for a period of time as a securities industry consultant, Young was hired as the Managing Director of Compliance for the Stanford firm in June 2006, a position he held through 2009."
Finra, however, does not want anyone to get the idea that Stanford hired a former Finra guy to ward off Finra and sustain his alleged $7.5 billion Ponzi for a few more years.
"The interviews of current Finra employees and review of exam files identified no information to suggest that Young's presence at the firm compromised Finra's subsequent examinations," the report said.
Finra began getting tips that Stanford was running a massive Ponzi scheme in September 2003, the report said. But Finra failed to act upon them.
And, despite its lengthy report citing a litany of excuses, Finra has failed to understand why.
The report is based solely on interviews with Finra employees who dropped the regulatory balls. This is like interviewing stupid people to try to learn why they are so stupid.
Stupid people don't always know that they're stupid. And regulators don't always know a potential Ponzi scheme from a potential employer.
Young did not return an email and a phone call I placed to his office in The Woodlands, Texas.
Guess "the Woodlands" must have more than one meaning.
Finally read this article about the future of FINRA from the Wall Street Pit. The letter in it is the same letter referred to by Larry Doyle above.
Are the days of Wall Street’s self-regulatory organization known as FINRA numbered?
In the opinion of the very credible Project on Government Oversight, they should be. Why? Significant failures, massive conflicts of interest, and more. POGO’s comprehensive and scathing letter to four separate House and Senate committees touches upon every failing within FINRA, with the exception of the integrity of the proxy statement used in the formation of the organization itself. Strong allegations in a current lawsuit against FINRA make the case that Mary Schapiro lied verbally during roadshows and in the proxy statement.
America deserves to be introduced to the organization that, in my opinion, squarely has a foot in both the Wall Street and Washington camps. I make no excuses in categorically stating that FINRA defined the Wall Street-Washington incestuous relationship.
I have no interest in vindication of my writing so much about FINRA over the last thirteen months. I have every interest in exposing the issues embedded in this organization. America needs to truly learn about the issues surrounding FINRA and how and why this organization failed to uphold its charge to protect investors.
I congratulate POGO for bringing these issues to the Hill. I humbly submit and STRONGLY recommend you read, review, and share this letter with friends and colleagues.
The pursuit of truth, transparency, and integrity within the Wall Street financial regulatory system goes to a whole new level with this letter:
February 23, 2010
House Committee on Financial Services
House Committee on Oversight and Government Reform
Senate Committee on Banking, Housing, & Urban Affairs
Senate Committee on Finance
Dear Chairman and Ranking Member:
The Project On Government Oversight (POGO) is writing to raise concerns that Congress’s efforts to reform the financial regulatory system have not adequately addressed the failures of the private self-regulatory organizations (SROs) that are tasked with protecting the investing public and maintaining the integrity of our financial markets. Specifically, we urge you to take a much closer look at the Financial Industry Regulatory Authority (FINRA)–an SRO that regulates thousands of securities brokerage firms–and to consider whether FINRA can ever be an effective regulator given its cozy relationship with the securities industry.......
Sincerely,
Danielle Brian
Executive Director
And the cozy relationship with Paul Kanjorski.
Wednesday, July 7, 2010
Steve Corbett's "Symbolic Politics" Reference To The American Flag
In an interview today on WILK Steve Corbett, a respected radio talk show host, described what I call disrespect for the American Flag in his interview with Congressman Paul Kanjorski. Atfer 54 seconds into his interview with Kanjorski I was appalled at what I heard him state to Kanjo.
He asks Kanjorski whether "he is in the area or in D.C". Kanjorski repsonds that he is in his Scranton office. (Keep in mind that the prelude to this interview has been announced at least 45 minutes before its occurence by Corbett on air to drum up an audience).
Evidently Kanjorski attended an opening day event at a ball field. Corbett tells Kanjorski "I saw you out with the American Flag on the baseball diamond the other day". He presented an American Flag so the league could fly it at their facility and "celebrate Old glory". Corbett goes on to say "Ya know it's interesting in its most simple form , that kinda symbolic politics I think makes people feel good for good reason."
Mr. Corbett, I didn't know we play politics with our flag. There is a group of men and women known as troops and veterans who would probably take issue with your assessment of Kanjorski's actions. "You got young, high school baseball players who get a flag pole for the baseball players, uhh field so the national anthem can be sung, if nothing else we can put politics aside ( what a minute Steve, didn't you just say it WAS symbolic politics???) it's a good thing but I am sure you will probably get criticized for that too."
Kanjorski's response "Yes some people criticize you for everything, Steve." Kanjorski deserves the criticisms for bailing out the banks, taking over the auto industry, destroying healthcare, ruining Medicare, and bankrupting Social Security. Kanjo said he wasn't going to let the "nut with a camera" get him in a Youtube moment. Kanjo, the nut is in front of the camera, not behind it.
Kanjo, for using the American Flag for politics..you most certainly deserve criticism. Then Kanjorski goes on to say "It's part of the game ya know,it's alright with me but it's great pleasure to work with kids like that have good ideas very promising futures for both athletically and intellectually and it speaks so well for Northeastern Pennsylvania". Wow ..and you did a commercial where you respect veterans...??? WOW!! Now you will violate basic tenants of morality and use kids as well as your pawns....Unbelievable.
It gets better. Corbett asks Kanjorski whether he gets "tired of the criticism". Kanjorski immediately goes into protection mode and attacks the Times Leader. Corbett feeds Kanjorski a question asking him if the Times Leader endorsed Lou Barletta last election. Hello,Steve, this primary election the Times Leader endorsed Corey O'Brien...did you lose your mind. They could have endorsed Lou Bareltta but they didn't.
In the face of endorsing a DEMOCRAT you allow Kanjorski to go onto a diatribe about the TL being a Republican newspaper. Nancy Kayman had Kanjorski on July 1st doing a stint about financial reform but you let Kanjorski get away with misbranding and mislabeling the media?? Would Corbett let Kanjorski get away with calling Entercom Communications a Democratic radio station? Pardon my french but WTF?
Corbett went on to say that he couldn't vote for Lou Barletta because if he wins he believes he will be lock step with the Republican Party. Corbett has a very short memory. Last election Barletta went against the establishment in the Republican heirarchy. He went against George Bush. And Tom Corbett wasn't too happy with him either.
Evidently Steve Corbett is willing to put aside the facts of Kanjorski's dismal record despite his claims of wanting to get to the facts.
He asks Kanjorski whether "he is in the area or in D.C". Kanjorski repsonds that he is in his Scranton office. (Keep in mind that the prelude to this interview has been announced at least 45 minutes before its occurence by Corbett on air to drum up an audience).
Evidently Kanjorski attended an opening day event at a ball field. Corbett tells Kanjorski "I saw you out with the American Flag on the baseball diamond the other day". He presented an American Flag so the league could fly it at their facility and "celebrate Old glory". Corbett goes on to say "Ya know it's interesting in its most simple form , that kinda symbolic politics I think makes people feel good for good reason."
Mr. Corbett, I didn't know we play politics with our flag. There is a group of men and women known as troops and veterans who would probably take issue with your assessment of Kanjorski's actions. "You got young, high school baseball players who get a flag pole for the baseball players, uhh field so the national anthem can be sung, if nothing else we can put politics aside ( what a minute Steve, didn't you just say it WAS symbolic politics???) it's a good thing but I am sure you will probably get criticized for that too."
Kanjorski's response "Yes some people criticize you for everything, Steve." Kanjorski deserves the criticisms for bailing out the banks, taking over the auto industry, destroying healthcare, ruining Medicare, and bankrupting Social Security. Kanjo said he wasn't going to let the "nut with a camera" get him in a Youtube moment. Kanjo, the nut is in front of the camera, not behind it.
Kanjo, for using the American Flag for politics..you most certainly deserve criticism. Then Kanjorski goes on to say "It's part of the game ya know,it's alright with me but it's great pleasure to work with kids like that have good ideas very promising futures for both athletically and intellectually and it speaks so well for Northeastern Pennsylvania". Wow ..and you did a commercial where you respect veterans...??? WOW!! Now you will violate basic tenants of morality and use kids as well as your pawns....Unbelievable.
It gets better. Corbett asks Kanjorski whether he gets "tired of the criticism". Kanjorski immediately goes into protection mode and attacks the Times Leader. Corbett feeds Kanjorski a question asking him if the Times Leader endorsed Lou Barletta last election. Hello,Steve, this primary election the Times Leader endorsed Corey O'Brien...did you lose your mind. They could have endorsed Lou Bareltta but they didn't.
In the face of endorsing a DEMOCRAT you allow Kanjorski to go onto a diatribe about the TL being a Republican newspaper. Nancy Kayman had Kanjorski on July 1st doing a stint about financial reform but you let Kanjorski get away with misbranding and mislabeling the media?? Would Corbett let Kanjorski get away with calling Entercom Communications a Democratic radio station? Pardon my french but WTF?
Corbett went on to say that he couldn't vote for Lou Barletta because if he wins he believes he will be lock step with the Republican Party. Corbett has a very short memory. Last election Barletta went against the establishment in the Republican heirarchy. He went against George Bush. And Tom Corbett wasn't too happy with him either.
Evidently Steve Corbett is willing to put aside the facts of Kanjorski's dismal record despite his claims of wanting to get to the facts.
Tuesday, December 15, 2009
Steve(Not Tom) Corbett on Senator Mellow And House Majority Leader Todd Eachus
Back on October 2, 2009 famed WILK Talk Show Host Steve Corbett wrote the following editorial " One Is As Bad As The Other". Here is it's content.
One Is As Bad As The Other
Steve Corbett Reporting
corbett@wilknewsradio.com
Friday, October 02, 2009
Hunger and pain is easy to overlook as long as you’re not hungry and in pain.
Sen. Bob Mellow is neither hungry nor hurting.
Rep. Todd Eachus is neither hungry nor hurting.
Mellow, the Pennsylvania Senate minority Democratic leader and Eachus, the majority House of Representatives Democratic Leader, are bloated plutocrats who have lost all connection to the real world of hunger and pain outside Harrisburg where they are paid handsomely to uphold the public trust.
Their failure to lead lawmakers into passing a long-overdue budget can no longer be excused or overlooked. Their self-absorbed impressions of themselves are hurting people. Their willingness to live the good life while their constituents are living no life at all can no longer be accepted.
Both men are powerful Democrats.
Other powerful Democrats should call them out.
Elected Democrats to local and state positions must focus on alerting Mellow and Eachus to the damage being done to our communities.
Mellow really should know better. As the state’s longest sitting senator, he knows the rules of the game as well as anyone. Or does he?
Mellow might have outlived his usefulness to anyone than himself and those campaign donors to whom he is indebted and wants to remain connected. That does little good to the process of good government that he supposedly understands and is paid to uphold.
Eachus also is no use to anyone but himself and those who created him as a monster manipulator who really isn’t even all that good at political wheeling-and-dealing.
When I visited Harrisburg recently, I spoke with a number of Capitol insiders who said that Eachus is not well respected among the rank-and-file lawmakers and definitely does not know how to negotiate or get things done.
In the old days, even in the midst of the corruption that sent legendary Sen. Vince Fumo to prison, where he now sits during the budget debacle, things got done. It took awhile but Fumo knew what strings to pull and pulled them. Fumo was a master at negotiation – by hook or by crook.
He was a criminal bully and a shameless intimidator but he got the job done.
Mellow doesn’t know how to put together a package that helps the people in Pennsylvania who desperately need help. Even if he wanted to help, Mellow never knew how to create connections and alliances that brought strength rather than weakness to progressive public policy.
Eachus doesn’t even have a clue.
This week the untested, unseasoned know-it-all even went so far as to criticize Gov. Ed Rendell, a brother Democrat who is as adept at politics as anybody in America. Eachus said he did not believe Rendell understood the rules of the House of Representatives.
If Eachus’ arrogance wasn’t so pathetic and counterproductive it would be funny.
But the budget impass is no laughing matter
And Eachus is digging us into a deeper hole rather than building ladders to help get us out.
How Eachus got to the position of power where he finds himself today is truly beyond me. State government was in such a state of disarray when Eachus arrived on the scene that I believe he just fell into the job.
He never impressed seasoned old-timers and today lacks the real behind-the-scenes support of the remaining political fixers who know how to get things done. If anything, he interferes in a way that causes resentment and makes life worse instead of better
I watched Eachus last Friday show up for the rededication of the Luzerne County Courthouse. He started shaking hands in the parking lot as soon as he arrived and graduated to handshakes and hugs throughout the morning – empty greetings to other empty suits.
Walking in the shadows of power and corruption with a lackey aid walking two steps behind him, Eachus struck me as a terribly insecure man who is working overtime not at passing a budget but at overcompensating for his inability by get the job done. Instead of hunkering down in Harrisburg, he wasted precious time and money at an event that only served to highlight the terrible state of despair in his own home county.
Yet Eachus did not seem embarrassed. Oblivious to his own failings, he merely further distanced himself from the life and death problems of the people he supposedly serves.
Mellow is a lost cause.
Eachus is a just a younger version.
Re-election might not be as easy as they think.
Even hungry people in pain can vote.
One Is As Bad As The Other
Steve Corbett Reporting
corbett@wilknewsradio.com
Friday, October 02, 2009
Hunger and pain is easy to overlook as long as you’re not hungry and in pain.
Sen. Bob Mellow is neither hungry nor hurting.
Rep. Todd Eachus is neither hungry nor hurting.
Mellow, the Pennsylvania Senate minority Democratic leader and Eachus, the majority House of Representatives Democratic Leader, are bloated plutocrats who have lost all connection to the real world of hunger and pain outside Harrisburg where they are paid handsomely to uphold the public trust.
Their failure to lead lawmakers into passing a long-overdue budget can no longer be excused or overlooked. Their self-absorbed impressions of themselves are hurting people. Their willingness to live the good life while their constituents are living no life at all can no longer be accepted.
Both men are powerful Democrats.
Other powerful Democrats should call them out.
Elected Democrats to local and state positions must focus on alerting Mellow and Eachus to the damage being done to our communities.
Mellow really should know better. As the state’s longest sitting senator, he knows the rules of the game as well as anyone. Or does he?
Mellow might have outlived his usefulness to anyone than himself and those campaign donors to whom he is indebted and wants to remain connected. That does little good to the process of good government that he supposedly understands and is paid to uphold.
Eachus also is no use to anyone but himself and those who created him as a monster manipulator who really isn’t even all that good at political wheeling-and-dealing.
When I visited Harrisburg recently, I spoke with a number of Capitol insiders who said that Eachus is not well respected among the rank-and-file lawmakers and definitely does not know how to negotiate or get things done.
In the old days, even in the midst of the corruption that sent legendary Sen. Vince Fumo to prison, where he now sits during the budget debacle, things got done. It took awhile but Fumo knew what strings to pull and pulled them. Fumo was a master at negotiation – by hook or by crook.
He was a criminal bully and a shameless intimidator but he got the job done.
Mellow doesn’t know how to put together a package that helps the people in Pennsylvania who desperately need help. Even if he wanted to help, Mellow never knew how to create connections and alliances that brought strength rather than weakness to progressive public policy.
Eachus doesn’t even have a clue.
This week the untested, unseasoned know-it-all even went so far as to criticize Gov. Ed Rendell, a brother Democrat who is as adept at politics as anybody in America. Eachus said he did not believe Rendell understood the rules of the House of Representatives.
If Eachus’ arrogance wasn’t so pathetic and counterproductive it would be funny.
But the budget impass is no laughing matter
And Eachus is digging us into a deeper hole rather than building ladders to help get us out.
How Eachus got to the position of power where he finds himself today is truly beyond me. State government was in such a state of disarray when Eachus arrived on the scene that I believe he just fell into the job.
He never impressed seasoned old-timers and today lacks the real behind-the-scenes support of the remaining political fixers who know how to get things done. If anything, he interferes in a way that causes resentment and makes life worse instead of better
I watched Eachus last Friday show up for the rededication of the Luzerne County Courthouse. He started shaking hands in the parking lot as soon as he arrived and graduated to handshakes and hugs throughout the morning – empty greetings to other empty suits.
Walking in the shadows of power and corruption with a lackey aid walking two steps behind him, Eachus struck me as a terribly insecure man who is working overtime not at passing a budget but at overcompensating for his inability by get the job done. Instead of hunkering down in Harrisburg, he wasted precious time and money at an event that only served to highlight the terrible state of despair in his own home county.
Yet Eachus did not seem embarrassed. Oblivious to his own failings, he merely further distanced himself from the life and death problems of the people he supposedly serves.
Mellow is a lost cause.
Eachus is a just a younger version.
Re-election might not be as easy as they think.
Even hungry people in pain can vote.
Wednesday, February 25, 2009
Kanjo- Earmarks Are Not His Specialty
In the election against Lou Barletta many people were touting the money Kanjo brought back to the district. You heard about it on the morning drive with Kevin and Nancy. You heard people call into Steve Corbett and praise Kanjo for his efforts.
Take an honest look at the earmarks Kanjo brought back to the area. His solo earmarks amount to a total of 5 for a paltry $2,955,000. Contrast that with John Murtha who had 67 solo earmarks for a total of $159,940,200. Arlen Specter had 131 solo earmarks for a total of $31,167,900. Chris Carney quadrupled Kanjo with 18 solo earmarks for a total of $8,818,600.
It's the perception folks, not the reality that evidently counted.
Take an honest look at the earmarks Kanjo brought back to the area. His solo earmarks amount to a total of 5 for a paltry $2,955,000. Contrast that with John Murtha who had 67 solo earmarks for a total of $159,940,200. Arlen Specter had 131 solo earmarks for a total of $31,167,900. Chris Carney quadrupled Kanjo with 18 solo earmarks for a total of $8,818,600.
It's the perception folks, not the reality that evidently counted.
Thursday, October 9, 2008
Barack Obama and Bill Ayers- "I don't regret setting bombs I feel we didn't do enough"
Bill Ayers made that statement in the New York Times September 11, 2001. The son of the judge mentioned in this video appeared on WILK's Steve Corbett show yesterday.
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