Showing posts with label Mitch McConnell. Show all posts
Showing posts with label Mitch McConnell. Show all posts

Wednesday, March 25, 2009

Sen. McConnell's Wife is in TROUBLE.. Good Thing She is OUT OF A JOB!!

The wife of Sen. Mitch McConnell of KY is out of work.. but it's just as well, she is also in Trouble.. with a Capital T. The statistics are out and they aren't good.

The GAO has released information gathered during her tenure and things weren't as rosy as people wanted everyone to think it was. Wonder if No Lips McConnell will spin that one.

Here is the parts of the report that was in the NY Times today.

the Labor Department’s Wage and Hour Division, had mishandled 9 of the 10 cases brought by a team of undercover agents posing as aggrieved workers.

In one case, the division failed to investigate a complaint that under-age children in Modesto, Calif., were working during school hours at a meatpacking plant with dangerous machinery, the G.A.O., the nonpartisan auditing arm of Congress, found.

When an undercover agent posing as a dishwasher called four times to complain about not being paid overtime for 19 weeks, the division’s office in Miami failed to return his calls for four months, and when it did, the report said, an official told him it would take 8 to 10 months to begin investigating his case.

“This investigation clearly shows that Labor has left thousands of actual victims of wage theft who sought federal government assistance with nowhere to turn,” the report said. “Unfortunately, far too often the result is unscrupulous employers’ taking advantage of our country’s low-wage workers.”

The report pointed to a cavalier attitude by many Wage and Hour Division investigators, saying they often dropped cases when employers did not return calls and sometimes told complaining workers that they should file lawsuits, an often expensive and arduous process, especially for low-wage workers.

During the nine-month investigation, the report said, 5 of the 10 labor complaints that undercover agents filed were not recorded in the Wage and Hour Division’s database, and three were not investigated. In two cases, officials recorded that employers had paid back wages, even though they had not.


Doesn't sound good does it. Well that's just the beginning. It goes on from there.

The accountability office also investigated hundreds of cases that it said the Wage and Hour Division had mishandled. In one, the division waited 22 months to investigate a complaint from a group of restaurant workers. Ultimately, investigators found that the workers were owed $230,000 because managers had made them work off the clock and had misappropriated tips. When the restaurant agreed to pay back wages but not the tips, investigators simply closed the case.

In another case, the accountability office found that workers at a boarding school in Montana were not paid more than $200,000 in overtime. But when the employer offered to pay only $1,000 in back wages as the two-year statute of limitations approached, the division dropped the case.


Is it any wonder the Lilly Ledbetter case was ruled as it was by the SCOTUS? With the way it sounds that the Dept. of Labor has been handled under Elaine Chao, or should I say mishandled, it is a wonder anything has gotten done the last 8 years.

The report concluded that the Wage and Hour Division had mishandled more serious cases 19 percent of the time. In such cases, the accountability office said, the division did not begin an investigation for six months, did not complete an investigation for a year, did not assess back wages when violations were clearly identified and did not refer cases to litigation when warranted.

“When you have weak penalties and weak enforcement, that’s a deadly combination for workers,” said Representative George Miller, Democrat of California, who, as chairman of the House Education and Labor Committee, asked the accountability office to do the report. “It’s clear that under the existing system, employers feel they can steal workers’ wages with impunity, and that has to change.”

Mr. Miller, whose committee is scheduled to hold a hearing on wage and hour enforcement on Wednesday, said he would push to enact tougher penalties for wage violations and laws that made it easier for workers to join class-action lawsuits.

The report said undercover agents recorded Wage and Hour Division officials urging workers who complained to file lawsuits. And on one recording, an investigator appeared to back off quickly on demanding back pay when an undercover agent posing as a wage-violating employer said he was financially stretched.

According to the report, the employer said, “Well, you know, like I said, all of our contracts have dried up, we really don’t have anything coming in, so. ... .”

The investigator responded,“O.K., so you’re not in a position where you can pay him?”

When the employer said no, the investigator seemingly gave up, saying he would let the worker “know that he has a private right of action to pursue the funds.”

The report expressed dismay with that approach. “Low-wage workers may be unable to afford attorney’s fees or may be unwilling to argue their own case in small-claims court,” it said, “leaving them with no other options to obtain their back wages.”


It sure sounds like workers were on their own, to either hire attorney's, pay their own fees, or suffer, because they had no one in the government agency to help them. Well, what else is new with the Republicans in charge?

More of that "less government" we always hear about??

Sunday, March 15, 2009

AIG Just Gets Worse With Every Story

AIG TowerImage via Wikipedia

Now they even gave part of the money they got to Henry Paulson's old company Goldman Sach's. Maybe that was part of the deal in the first place?? You really have to wonder if that was part of the motivation behind the original bail-out.

Finally, today Bernanke said on 60 Minutes what I said about 3 weeks ago they were going to be trying to break them up. That's what they should have done in the beginning, instead of just saying they were too big to fail and pouring money into them.

Here is the story from Yahoo News and Reuters that talks about them giving money to Goldman and other banks.

A large portion of the taxpayer money spent to rescue insurer AIG was passed on to Goldman Sachs and several European banks, who were among the major beneficiaries of more than $90 billion in payments in the first three-and-a-half months of the government bailout, AIG disclosed on Sunday.

The revelation was another public relations nightmare, coming on the same weekend that the Obama administration expressed outrage over American International Group Inc's plan to pay massive bonuses to the people in the very division that destroyed the company by issuing billions of dollars in derivatives insuring risky assets.

AIG, an embattled insurance giant that has received federal bailouts totaling $173 billion and is now paying $165 million in employee bonuses, is at the heart of a global financial crisis that President Barack Obama is trying to address with plans for trillions of dollars in spending.

As part of those efforts, Obama will announce steps on Monday to make it easier for small business owners to borrow money, officials said.

But the revelations that billions of U.S. taxpayer dollars were funneled through AIG to Goldman Sachs -- one of Wall Street's most politically connected firms -- and to European banks including Deutsche Bank, France's Societe Generale and the UK's Barclays was likely to stoke further outrage at the entire U.S. bank bailout.

While the payments were not illegal, the fact that billions of dollars given to prop up giant insurer AIG were then transferred to European banks and Wall Street investment houses could raise new doubts about whether the rescue was really economically necessary.

Goldman Sachs, formerly led by Henry Paulson who was treasury secretary at the time of the original AIG bailout, could not immediately be reached for comment. Deutsche Bank and Barclays declined to comment.


The story goes on to describe the plan that Pres. Obama will lay out tomorrow for the small businesses which will help them with the loans they need to proceed. Most of this is from the Recovery Plan that was passed three weeks ago.

AIG also stated today they were going through with the bonuses they planned to pay some of their employees. Treasury Secretary Geithner, Fed Chairman Bernanke and others in the Administration, along with several members of Congress who were on the Sunday shows all expressed outrage with their plan to continue to pay these.

However Edward Liddy, AIG's chairman said failure to pay these bonuses would void the contracts that predated the bailout. After Sec. Geithner called Liddy Wed. and told him it would not be wise to pay the bonuses, Liddy sent a letter back to Pres. Obama and the others to tell them he had no choice.

Summers -- speaking before the payments to banks were made public -- called the AIG bonuses "outrageous" but said contracts must be honored, even though Treasury Secretary Timothy Geithner had "negotiated very forcefully" with AIG and done all that was "legally permissible" to limit the payments.

"We're not a country where contacts just get abrogated willy nilly," Summers, a former treasury secretary, said on CBS's "Face the Nation" program. "What the lesson is, is this: We don't really have a satisfactory regulatory regime in place."

News of the AIG bonuses sparked outrage beyond political circles and was equally apparent on news Web sites and among ordinary Americans.


Now that the story of the payments to the other banks have broken I am sure when Liddy gets to Capitol Hill on Wednesday he will hear about it.

The payments to AIG counterparties include the provision of collateral to back up credit default swaps, a form of financial insurance that AIG's London office was writing, the purchase of the collateralized default obligations, a type of complex debt security that underlay that insurance, and payments to counterparties of a securities lending program.

Through three separate types of transactions, Goldman received an aggregate $12.9 billion. Among European banks, SocGen was the biggest recipient at $11.9 billion, Deutsche got $11.8 billion and Barclays was paid $8.5 billion.

The list of counterparties was made public by AIG amid growing pressure on the insurer to come clean about the true beneficiaries of the bailout ahead of a congressional hearing on Wednesday at which AIG chief executive Edward Liddy is slated to testify.


Mostly the Republican talking heads just rattled this morning, but they did say they would have to see what could be done about the contracts and the deals that had been made.

AIG's Liddy said in a letter to Geithner the giant insurer was legally obligated to make 2008 employee retention payments but had agreed to revamp its system for future bonuses after the Obama administration objected.

"There are a lot of terrible things that have happened in the last 18 months, but what's happened at AIG is the most outrageous," Summers said.

Representative Barney Frank, the Democratic chairman of the powerful House of Representatives Financial Services Committee, said the government must see if the bonuses can be recovered, adding that the timing of AIG's commitment was important.

"We can't just violate law, legal obligations," Frank told Fox. "I understand that. But I do want to find out at what point these illegal obligations were incurred."

Mitch McConnell, the Republican minority leader in the Senate, called the AIG situation an "outrage" and said the nature of the contracts needed to be checked.

"Did they enter into these contracts knowing full well that, as a practical matter, the taxpayers of the United States were going to be reimbursing their employees? Particularly employees who got them into this mess in the first place?" McConnell said on ABC's "This Week."


Let's hope they do something. These idiots just don't understand what is going on in the real world. I think it is time to cut them loose. Either they do without the money from the Government or they do without the bonuses. That would be a very easy decision for me and a lot of others to make.

Where is Sick Rantelli now.. Here, if you ask me is his LOSER!!!!













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Friday, March 13, 2009

Sunday Morning TeeVee Watching

From TPM, I thought I would post this... I highlighted CNN and State of the Union, because I wanted everyone to see who is on there this Sunday morning.. Can you believe this shit?? Darth is out to try to burnish his legacy with John King's help. This ought to be really good. I don't know whether I want to watch it or skp it I really don't.

Especially after the news of the Assassin groups who he authorized. Wonder if that will be brought up.. I really doubt it. I am sure it will be more about how Pres. Obama is ruining the country since he took office, and how fine Bush and Cheney left it for him. What a wonderful job they did running it for 8 years. I swear CNN is getting to the point of being the 2nd Fox News.

I have been noticing more and more that they have been covering things with more and more of a bend lately. And I am not the only one. Even MediaMatters has noticed it. You can check out their files and see it. They only have 1,073 files, just on CNN.

So, here's the Sunday morning schedule.. set your Tivo, DVR or whatever, then you can make arrangements to watch what you want.


The Sunday Show Line-Ups
By Eric Kleefeld - March 13, 2009, 5:08PM
Here are the line-ups for the Sunday talk shows this weekend:

• ABC, This Week: Lawrence Summers, Director of the National Economic Council, and Senate Minority Leader Mitch McConnell (R-KY).

• CBS, Face The Nation: Lawrence Summers, Director of the National Economic Council, and Thomas Friedman of the New York Times.

CNN, State Of The Union: Former Vice President Dick Cheney, in his first TV interview since leaving office.

• Fox News Sunday: Austan Goolsbee, White House Council of Economic Advisers; Sen. Bob Corker (R-TN); Rep. Barney Frank (D-MA); Mark Zandi, Moody's Economy.com; and FDIC Chair Sheila Blair.

NBC, Meet The Press: House Minority Whip Eric Cantor (R-VA), and Dr. Christina Romer, Chair of the President's Council of Economic Advisers.


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