TARP has lost 40% since inception

[Arraya]

http://www.foxnews.com/politics/2009/03/17/recover-aig-bonuses-lawmakers-scramble-undo-protections-approved/

To Recover AIG Bonuses, Lawmakers Scramble to Undo Protections They Approved
Though Connecticut Democratic Sen. Chris Dodd is among those leading the charge on retrieving AIG bonuses, an amendment he added to the $787 billion stimulus bill last month created a roadblock to getting that money back.

Now this is some funny shit,

Chirstoper Dodd writes an amendment to the stimuls bill protecting the bonus money that was “guaranteed” before 2/11/2009 and now that it’s been paid out and found out and

there is public outcry over it (as there should be) his own bill is preventing them from getting the money back.

Talk about having something blow up in your face, I bet Barry O is fit to be tied right about now.

FWIW the linked artilce states that the Senator that got the most campaign money from AIG – yep thats right Chris Dodd.

An ole Chris was gonna repay the favor by stacking the deck only the deck has just crashed hard on his head.

As I said, that’s funny right there, I don’t care who you are .. that’s funny

[Allan from Fallbrook]

Arraya: See linked article from WashPost regarding outcry over AIG bonuses.

http://www.washingtonpost.com/wp-dyn/content/article/2009/03/16/AR2009031602961.html?nav=rss_email/components

The interesting part is the reference to AIG employees staying away from work because of death threats via email and voice mail. One of the managers said that he felt that things would “end badly”, meaning that someone would be seriously injured or killed over this.

This is some ugly shit. This is genuine outrage and you do have the sense that it could turn violent or deadly. How this situation is handled will really set the tone, for better or worse, for similar situations moving forward.

[Allan from Fallbrook]

Arraya: See linked article from WashPost regarding outcry over AIG bonuses.

http://www.washingtonpost.com/wp-dyn/content/article/2009/03/16/AR2009031602961.html?nav=rss_email/components

The interesting part is the reference to AIG employees staying away from work because of death threats via email and voice mail. One of the managers said that he felt that things would “end badly”, meaning that someone would be seriously injured or killed over this.

This is some ugly shit. This is genuine outrage and you do have the sense that it could turn violent or deadly. How this situation is handled will really set the tone, for better or worse, for similar situations moving forward.

[Allan from Fallbrook]

Arraya: See linked article from WashPost regarding outcry over AIG bonuses.

http://www.washingtonpost.com/wp-dyn/content/article/2009/03/16/AR2009031602961.html?nav=rss_email/components

The interesting part is the reference to AIG employees staying away from work because of death threats via email and voice mail. One of the managers said that he felt that things would “end badly”, meaning that someone would be seriously injured or killed over this.

This is some ugly shit. This is genuine outrage and you do have the sense that it could turn violent or deadly. How this situation is handled will really set the tone, for better or worse, for similar situations moving forward.

[Allan from Fallbrook]

Arraya: See linked article from WashPost regarding outcry over AIG bonuses.

http://www.washingtonpost.com/wp-dyn/content/article/2009/03/16/AR2009031602961.html?nav=rss_email/components

The interesting part is the reference to AIG employees staying away from work because of death threats via email and voice mail. One of the managers said that he felt that things would “end badly”, meaning that someone would be seriously injured or killed over this.

This is some ugly shit. This is genuine outrage and you do have the sense that it could turn violent or deadly. How this situation is handled will really set the tone, for better or worse, for similar situations moving forward.

[Allan from Fallbrook]

Arraya: See linked article from WashPost regarding outcry over AIG bonuses.

http://www.washingtonpost.com/wp-dyn/content/article/2009/03/16/AR2009031602961.html?nav=rss_email/components

The interesting part is the reference to AIG employees staying away from work because of death threats via email and voice mail. One of the managers said that he felt that things would “end badly”, meaning that someone would be seriously injured or killed over this.

This is some ugly shit. This is genuine outrage and you do have the sense that it could turn violent or deadly. How this situation is handled will really set the tone, for better or worse, for similar situations moving forward.

[Arraya]

Allen-This is quickly morphing into a political crisis. I saw that article earlier today. AIG is definitely an interesting entity. Started as an OSS vessel in 1919 and morphed into the biggest insurance co in the world. Also it started in China and was very active in spying during WWII. Lots of secrets there.

Good write up here on the current fiasco:

Wait. Hold it. Who designed, and is ultimately responsible for, the AIG bail-out? That would be the president of the New York Fed, right? And who was in that seat at the time the bail-out was executed, back in September? That’s right, it was Tiny Tulip Tim Geithner, the same guy whose direct boss these days, one Barack Obama, said this morning he was “choking with anger” over the consequences of the bail-out terms his own Treasury Secretary drew up a mere 6 months ago. If you’re the president, you have something better to do than choke, sir. You need to act.

Larry Summers, the economic behind-the-curtain sorcerer, says he is “outraged” over the bonuses. Makes you wonder when Timmy will start venting his anger over his own bungled broken words? (By the way, I see many different figures for the AIG bonuses float by. I’ll stick with Rep. Elijah Cummings for now, who puts the total at $1 billion.)

Talking about Larry Summers, I don’t want to bore you with repetition, but he is the guy who, along with Robert Rubin and their Citi and JPMorgan golf cronies, deregulated US finance 10 years ago, without which none of the disastrous leverage, risk taking, out and down-right gambling and beyond comprehension screwed-up conflicts of banking interests that are the number one core of the present financial mess would have been possible. Want to know who worked closely with them then? yeah, Tiny Tim. He was Under Secretary of the Treasury for International Affairs during Rubin and Summers’ stints as Treasury Secretaries, a true crown prince. Geithner is a shadow hand puppet and a docile servant who either badly bungled the AIG “rescue” or meant it to be what it is from the get-go. You choose. Either way, we’re back to the theatre of the absurd I’ve talked about many times.

Bennie Bernanke was the first Fed head to do a TV interview in 20 years yesterday. Why do you think he did? Can you spell spin doctor? Here’s a quote: “Lehman proved that you cannot let a large internationally active firm fail in the middle of a financial crisis,” Bernanke said.. Who was in charge of the Fed when Lehman was unceremoniously sunk? You’re 2 for 2, it was Bernanke.

http://theautomaticearth.blogspot.com/2009/03/march-16-2009-you-spin-me-right-round.html

[Arraya]

Allen-This is quickly morphing into a political crisis. I saw that article earlier today. AIG is definitely an interesting entity. Started as an OSS vessel in 1919 and morphed into the biggest insurance co in the world. Also it started in China and was very active in spying during WWII. Lots of secrets there.

Good write up here on the current fiasco:

Wait. Hold it. Who designed, and is ultimately responsible for, the AIG bail-out? That would be the president of the New York Fed, right? And who was in that seat at the time the bail-out was executed, back in September? That’s right, it was Tiny Tulip Tim Geithner, the same guy whose direct boss these days, one Barack Obama, said this morning he was “choking with anger” over the consequences of the bail-out terms his own Treasury Secretary drew up a mere 6 months ago. If you’re the president, you have something better to do than choke, sir. You need to act.

Larry Summers, the economic behind-the-curtain sorcerer, says he is “outraged” over the bonuses. Makes you wonder when Timmy will start venting his anger over his own bungled broken words? (By the way, I see many different figures for the AIG bonuses float by. I’ll stick with Rep. Elijah Cummings for now, who puts the total at $1 billion.)

Talking about Larry Summers, I don’t want to bore you with repetition, but he is the guy who, along with Robert Rubin and their Citi and JPMorgan golf cronies, deregulated US finance 10 years ago, without which none of the disastrous leverage, risk taking, out and down-right gambling and beyond comprehension screwed-up conflicts of banking interests that are the number one core of the present financial mess would have been possible. Want to know who worked closely with them then? yeah, Tiny Tim. He was Under Secretary of the Treasury for International Affairs during Rubin and Summers’ stints as Treasury Secretaries, a true crown prince. Geithner is a shadow hand puppet and a docile servant who either badly bungled the AIG “rescue” or meant it to be what it is from the get-go. You choose. Either way, we’re back to the theatre of the absurd I’ve talked about many times.

Bennie Bernanke was the first Fed head to do a TV interview in 20 years yesterday. Why do you think he did? Can you spell spin doctor? Here’s a quote: “Lehman proved that you cannot let a large internationally active firm fail in the middle of a financial crisis,” Bernanke said.. Who was in charge of the Fed when Lehman was unceremoniously sunk? You’re 2 for 2, it was Bernanke.

http://theautomaticearth.blogspot.com/2009/03/march-16-2009-you-spin-me-right-round.html

[Arraya]

Allen-This is quickly morphing into a political crisis. I saw that article earlier today. AIG is definitely an interesting entity. Started as an OSS vessel in 1919 and morphed into the biggest insurance co in the world. Also it started in China and was very active in spying during WWII. Lots of secrets there.

Good write up here on the current fiasco:

Wait. Hold it. Who designed, and is ultimately responsible for, the AIG bail-out? That would be the president of the New York Fed, right? And who was in that seat at the time the bail-out was executed, back in September? That’s right, it was Tiny Tulip Tim Geithner, the same guy whose direct boss these days, one Barack Obama, said this morning he was “choking with anger” over the consequences of the bail-out terms his own Treasury Secretary drew up a mere 6 months ago. If you’re the president, you have something better to do than choke, sir. You need to act.

Larry Summers, the economic behind-the-curtain sorcerer, says he is “outraged” over the bonuses. Makes you wonder when Timmy will start venting his anger over his own bungled broken words? (By the way, I see many different figures for the AIG bonuses float by. I’ll stick with Rep. Elijah Cummings for now, who puts the total at $1 billion.)

Talking about Larry Summers, I don’t want to bore you with repetition, but he is the guy who, along with Robert Rubin and their Citi and JPMorgan golf cronies, deregulated US finance 10 years ago, without which none of the disastrous leverage, risk taking, out and down-right gambling and beyond comprehension screwed-up conflicts of banking interests that are the number one core of the present financial mess would have been possible. Want to know who worked closely with them then? yeah, Tiny Tim. He was Under Secretary of the Treasury for International Affairs during Rubin and Summers’ stints as Treasury Secretaries, a true crown prince. Geithner is a shadow hand puppet and a docile servant who either badly bungled the AIG “rescue” or meant it to be what it is from the get-go. You choose. Either way, we’re back to the theatre of the absurd I’ve talked about many times.

Bennie Bernanke was the first Fed head to do a TV interview in 20 years yesterday. Why do you think he did? Can you spell spin doctor? Here’s a quote: “Lehman proved that you cannot let a large internationally active firm fail in the middle of a financial crisis,” Bernanke said.. Who was in charge of the Fed when Lehman was unceremoniously sunk? You’re 2 for 2, it was Bernanke.

http://theautomaticearth.blogspot.com/2009/03/march-16-2009-you-spin-me-right-round.html

[Arraya]

Allen-This is quickly morphing into a political crisis. I saw that article earlier today. AIG is definitely an interesting entity. Started as an OSS vessel in 1919 and morphed into the biggest insurance co in the world. Also it started in China and was very active in spying during WWII. Lots of secrets there.

Good write up here on the current fiasco:

Wait. Hold it. Who designed, and is ultimately responsible for, the AIG bail-out? That would be the president of the New York Fed, right? And who was in that seat at the time the bail-out was executed, back in September? That’s right, it was Tiny Tulip Tim Geithner, the same guy whose direct boss these days, one Barack Obama, said this morning he was “choking with anger” over the consequences of the bail-out terms his own Treasury Secretary drew up a mere 6 months ago. If you’re the president, you have something better to do than choke, sir. You need to act.

Larry Summers, the economic behind-the-curtain sorcerer, says he is “outraged” over the bonuses. Makes you wonder when Timmy will start venting his anger over his own bungled broken words? (By the way, I see many different figures for the AIG bonuses float by. I’ll stick with Rep. Elijah Cummings for now, who puts the total at $1 billion.)

Talking about Larry Summers, I don’t want to bore you with repetition, but he is the guy who, along with Robert Rubin and their Citi and JPMorgan golf cronies, deregulated US finance 10 years ago, without which none of the disastrous leverage, risk taking, out and down-right gambling and beyond comprehension screwed-up conflicts of banking interests that are the number one core of the present financial mess would have been possible. Want to know who worked closely with them then? yeah, Tiny Tim. He was Under Secretary of the Treasury for International Affairs during Rubin and Summers’ stints as Treasury Secretaries, a true crown prince. Geithner is a shadow hand puppet and a docile servant who either badly bungled the AIG “rescue” or meant it to be what it is from the get-go. You choose. Either way, we’re back to the theatre of the absurd I’ve talked about many times.

Bennie Bernanke was the first Fed head to do a TV interview in 20 years yesterday. Why do you think he did? Can you spell spin doctor? Here’s a quote: “Lehman proved that you cannot let a large internationally active firm fail in the middle of a financial crisis,” Bernanke said.. Who was in charge of the Fed when Lehman was unceremoniously sunk? You’re 2 for 2, it was Bernanke.

http://theautomaticearth.blogspot.com/2009/03/march-16-2009-you-spin-me-right-round.html

[Arraya]

Allen-This is quickly morphing into a political crisis. I saw that article earlier today. AIG is definitely an interesting entity. Started as an OSS vessel in 1919 and morphed into the biggest insurance co in the world. Also it started in China and was very active in spying during WWII. Lots of secrets there.

Good write up here on the current fiasco:

Wait. Hold it. Who designed, and is ultimately responsible for, the AIG bail-out? That would be the president of the New York Fed, right? And who was in that seat at the time the bail-out was executed, back in September? That’s right, it was Tiny Tulip Tim Geithner, the same guy whose direct boss these days, one Barack Obama, said this morning he was “choking with anger” over the consequences of the bail-out terms his own Treasury Secretary drew up a mere 6 months ago. If you’re the president, you have something better to do than choke, sir. You need to act.

Larry Summers, the economic behind-the-curtain sorcerer, says he is “outraged” over the bonuses. Makes you wonder when Timmy will start venting his anger over his own bungled broken words? (By the way, I see many different figures for the AIG bonuses float by. I’ll stick with Rep. Elijah Cummings for now, who puts the total at $1 billion.)

Talking about Larry Summers, I don’t want to bore you with repetition, but he is the guy who, along with Robert Rubin and their Citi and JPMorgan golf cronies, deregulated US finance 10 years ago, without which none of the disastrous leverage, risk taking, out and down-right gambling and beyond comprehension screwed-up conflicts of banking interests that are the number one core of the present financial mess would have been possible. Want to know who worked closely with them then? yeah, Tiny Tim. He was Under Secretary of the Treasury for International Affairs during Rubin and Summers’ stints as Treasury Secretaries, a true crown prince. Geithner is a shadow hand puppet and a docile servant who either badly bungled the AIG “rescue” or meant it to be what it is from the get-go. You choose. Either way, we’re back to the theatre of the absurd I’ve talked about many times.

Bennie Bernanke was the first Fed head to do a TV interview in 20 years yesterday. Why do you think he did? Can you spell spin doctor? Here’s a quote: “Lehman proved that you cannot let a large internationally active firm fail in the middle of a financial crisis,” Bernanke said.. Who was in charge of the Fed when Lehman was unceremoniously sunk? You’re 2 for 2, it was Bernanke.

http://theautomaticearth.blogspot.com/2009/03/march-16-2009-you-spin-me-right-round.html

[Coronita]

[quote=arraya]http://www.foxnews.com/politics/2009/03/17/recover-aig-bonuses-lawmakers-scramble-undo-protections-approved/

To Recover AIG Bonuses, Lawmakers Scramble to Undo Protections They Approved
Though Connecticut Democratic Sen. Chris Dodd is among those leading the charge on retrieving AIG bonuses, an amendment he added to the $787 billion stimulus bill last month created a roadblock to getting that money back.

Now this is some funny shit,

Chirstoper Dodd writes an amendment to the stimuls bill protecting the bonus money that was “guaranteed” before 2/11/2009 and now that it’s been paid out and found out and

there is public outcry over it (as there should be) his own bill is preventing them from getting the money back.

Talk about having something blow up in your face, I bet Barry O is fit to be tied right about now.

FWIW the linked artilce states that the Senator that got the most campaign money from AIG – yep thats right Chris Dodd.

An ole Chris was gonna repay the favor by stacking the deck only the deck has just crashed hard on his head.

As I said, that’s funny right there, I don’t care who you are .. that’s funny[/quote]

Yup…I caught that too.

What’s getting even more funnier (i know there is no such word) is despite what Obama has been saying about ethics/integrity, that appointment after appointment, each keeps turning up with some skeleton in the closet. First it’s Geitner’s slippery slope tax evasion. And now this….

Obama’s CIO mired in bribery allegations.

http://www.computerworld.com/action/article.do?command=viewArticleBasic&articleId=9129635&intsrc=hm_list

http://valleywag.gawker.com/5172741/white-house-forgives-cios-youthful-indiscretion

What the heck. It’s almost as if this is a page out of Sales/Marketing 101…If you have a really sour fruit. Market is as the “the juicest, sweetist fruit on the planet”….Similarly, if your appointments/buddies has ethics issues, market your administration as the “most ethical administration, where ethics is #1”.

I have to hand it to the Bush administration. Although that was notorious admin, they were better at covering up their corruption. This admin, either they are too dumb to cover up stupid shit or they are so arrogant/flamboyant about it that they don’t care.

Change, you betcha.

——

Kundra takes leave of absence from federal CIO post
The move follows allegations of bribery in D.C. office he ran
By Patrick Thibodeau

March 13, 2009 (Computerworld) WASHINGTON — The fallout from Thursday’s arrests of a District of Columbia IT security official and contractor quickly raised questions about the fate of Vivek Kundra, the new federal CIO who until recently ran the office now mired in bribery allegations.

Until his appointment by President Barack Obama as CIO less than two weeks ago, Kundra was chief technology officer for the District of Columbia. But yesterday, Kundra’s former ninth-floor office in a downtown government building was a crime scene. A police officer was stationed in the office lobby while investigators searched through records.

A White House official confirmed today that Kundra took a leave of absence from his new CIO job shortly after federal investigators arrested two men in the D.C. government office on bribery charges. The official would not elaborate on the reasons for the leave; there were no indications yesterday that Kundra was involved in any wrongdoing.

Kundra’s decision could slow his plan to create a “revolution” in the federal government’s use of technology.

On the face of it, the allegations have the appearance of a simple financial crime: bribery. Two men have been charged: Yusuf Acar, who currently is the District of Columbia’s acting chief security, earning $127,468 a year, and Sushil Bansal, CEO and founder of Advanced Integrated Technologies Corp., a Washington-based outsourcing vendor that has won a number of contracts from the district’s IT department.

Federal law enforcement officials allege that the two men created “ghost” workers — people who existed only on time sheets — and overbilled the district for software licenses.

Acar and Bansal were arraigned in U.S. District Court yesterday. Bansal was released on the condition that he remain in the area, but Acar was locked up for a long list of reasons spelled out by the U.S. District Attorney Tom Hibarger. He pointed to Acar’s connections to Turkey and to alleged efforts to create bank accounts outside the U.S.

In addition, Hibarger told the judge that officials didn’t know whether Acar still had access to the district’s IT systems. Hibarger’s concern, and Acar’s role as an acting chief security officer, raised questions about the security of the systems and whether they’ve been compromised as part of the bribery scheme.

Asked whether the district government is looking into the security of its IT systems in the wake of the arrests, a spokesman for the D.C. mayor’s office deferred comment, for now, to the FBI and U.S. attorney office, which are leading the investigation. A spokeswoman for the U.S. attorney’s office wouldn’t comment on any IT-related aspects of the case

[Coronita]

[quote=arraya]http://www.foxnews.com/politics/2009/03/17/recover-aig-bonuses-lawmakers-scramble-undo-protections-approved/

To Recover AIG Bonuses, Lawmakers Scramble to Undo Protections They Approved
Though Connecticut Democratic Sen. Chris Dodd is among those leading the charge on retrieving AIG bonuses, an amendment he added to the $787 billion stimulus bill last month created a roadblock to getting that money back.

Now this is some funny shit,

Chirstoper Dodd writes an amendment to the stimuls bill protecting the bonus money that was “guaranteed” before 2/11/2009 and now that it’s been paid out and found out and

there is public outcry over it (as there should be) his own bill is preventing them from getting the money back.

Talk about having something blow up in your face, I bet Barry O is fit to be tied right about now.

FWIW the linked artilce states that the Senator that got the most campaign money from AIG – yep thats right Chris Dodd.

An ole Chris was gonna repay the favor by stacking the deck only the deck has just crashed hard on his head.

As I said, that’s funny right there, I don’t care who you are .. that’s funny[/quote]

Yup…I caught that too.

What’s getting even more funnier (i know there is no such word) is despite what Obama has been saying about ethics/integrity, that appointment after appointment, each keeps turning up with some skeleton in the closet. First it’s Geitner’s slippery slope tax evasion. And now this….

Obama’s CIO mired in bribery allegations.

http://www.computerworld.com/action/article.do?command=viewArticleBasic&articleId=9129635&intsrc=hm_list

http://valleywag.gawker.com/5172741/white-house-forgives-cios-youthful-indiscretion

What the heck. It’s almost as if this is a page out of Sales/Marketing 101…If you have a really sour fruit. Market is as the “the juicest, sweetist fruit on the planet”….Similarly, if your appointments/buddies has ethics issues, market your administration as the “most ethical administration, where ethics is #1”.

I have to hand it to the Bush administration. Although that was notorious admin, they were better at covering up their corruption. This admin, either they are too dumb to cover up stupid shit or they are so arrogant/flamboyant about it that they don’t care.

Change, you betcha.

——

Kundra takes leave of absence from federal CIO post
The move follows allegations of bribery in D.C. office he ran
By Patrick Thibodeau

March 13, 2009 (Computerworld) WASHINGTON — The fallout from Thursday’s arrests of a District of Columbia IT security official and contractor quickly raised questions about the fate of Vivek Kundra, the new federal CIO who until recently ran the office now mired in bribery allegations.

Until his appointment by President Barack Obama as CIO less than two weeks ago, Kundra was chief technology officer for the District of Columbia. But yesterday, Kundra’s former ninth-floor office in a downtown government building was a crime scene. A police officer was stationed in the office lobby while investigators searched through records.

A White House official confirmed today that Kundra took a leave of absence from his new CIO job shortly after federal investigators arrested two men in the D.C. government office on bribery charges. The official would not elaborate on the reasons for the leave; there were no indications yesterday that Kundra was involved in any wrongdoing.

Kundra’s decision could slow his plan to create a “revolution” in the federal government’s use of technology.

On the face of it, the allegations have the appearance of a simple financial crime: bribery. Two men have been charged: Yusuf Acar, who currently is the District of Columbia’s acting chief security, earning $127,468 a year, and Sushil Bansal, CEO and founder of Advanced Integrated Technologies Corp., a Washington-based outsourcing vendor that has won a number of contracts from the district’s IT department.

Federal law enforcement officials allege that the two men created “ghost” workers — people who existed only on time sheets — and overbilled the district for software licenses.

Acar and Bansal were arraigned in U.S. District Court yesterday. Bansal was released on the condition that he remain in the area, but Acar was locked up for a long list of reasons spelled out by the U.S. District Attorney Tom Hibarger. He pointed to Acar’s connections to Turkey and to alleged efforts to create bank accounts outside the U.S.

In addition, Hibarger told the judge that officials didn’t know whether Acar still had access to the district’s IT systems. Hibarger’s concern, and Acar’s role as an acting chief security officer, raised questions about the security of the systems and whether they’ve been compromised as part of the bribery scheme.

Asked whether the district government is looking into the security of its IT systems in the wake of the arrests, a spokesman for the D.C. mayor’s office deferred comment, for now, to the FBI and U.S. attorney office, which are leading the investigation. A spokeswoman for the U.S. attorney’s office wouldn’t comment on any IT-related aspects of the case

[Coronita]

[quote=arraya]http://www.foxnews.com/politics/2009/03/17/recover-aig-bonuses-lawmakers-scramble-undo-protections-approved/

To Recover AIG Bonuses, Lawmakers Scramble to Undo Protections They Approved
Though Connecticut Democratic Sen. Chris Dodd is among those leading the charge on retrieving AIG bonuses, an amendment he added to the $787 billion stimulus bill last month created a roadblock to getting that money back.

Now this is some funny shit,

Chirstoper Dodd writes an amendment to the stimuls bill protecting the bonus money that was “guaranteed” before 2/11/2009 and now that it’s been paid out and found out and

there is public outcry over it (as there should be) his own bill is preventing them from getting the money back.

Talk about having something blow up in your face, I bet Barry O is fit to be tied right about now.

FWIW the linked artilce states that the Senator that got the most campaign money from AIG – yep thats right Chris Dodd.

An ole Chris was gonna repay the favor by stacking the deck only the deck has just crashed hard on his head.

As I said, that’s funny right there, I don’t care who you are .. that’s funny[/quote]

Yup…I caught that too.

What’s getting even more funnier (i know there is no such word) is despite what Obama has been saying about ethics/integrity, that appointment after appointment, each keeps turning up with some skeleton in the closet. First it’s Geitner’s slippery slope tax evasion. And now this….

Obama’s CIO mired in bribery allegations.

http://www.computerworld.com/action/article.do?command=viewArticleBasic&articleId=9129635&intsrc=hm_list

http://valleywag.gawker.com/5172741/white-house-forgives-cios-youthful-indiscretion

What the heck. It’s almost as if this is a page out of Sales/Marketing 101…If you have a really sour fruit. Market is as the “the juicest, sweetist fruit on the planet”….Similarly, if your appointments/buddies has ethics issues, market your administration as the “most ethical administration, where ethics is #1”.

I have to hand it to the Bush administration. Although that was notorious admin, they were better at covering up their corruption. This admin, either they are too dumb to cover up stupid shit or they are so arrogant/flamboyant about it that they don’t care.

Change, you betcha.

——

Kundra takes leave of absence from federal CIO post
The move follows allegations of bribery in D.C. office he ran
By Patrick Thibodeau

March 13, 2009 (Computerworld) WASHINGTON — The fallout from Thursday’s arrests of a District of Columbia IT security official and contractor quickly raised questions about the fate of Vivek Kundra, the new federal CIO who until recently ran the office now mired in bribery allegations.

Until his appointment by President Barack Obama as CIO less than two weeks ago, Kundra was chief technology officer for the District of Columbia. But yesterday, Kundra’s former ninth-floor office in a downtown government building was a crime scene. A police officer was stationed in the office lobby while investigators searched through records.

A White House official confirmed today that Kundra took a leave of absence from his new CIO job shortly after federal investigators arrested two men in the D.C. government office on bribery charges. The official would not elaborate on the reasons for the leave; there were no indications yesterday that Kundra was involved in any wrongdoing.

Kundra’s decision could slow his plan to create a “revolution” in the federal government’s use of technology.

On the face of it, the allegations have the appearance of a simple financial crime: bribery. Two men have been charged: Yusuf Acar, who currently is the District of Columbia’s acting chief security, earning $127,468 a year, and Sushil Bansal, CEO and founder of Advanced Integrated Technologies Corp., a Washington-based outsourcing vendor that has won a number of contracts from the district’s IT department.

Federal law enforcement officials allege that the two men created “ghost” workers — people who existed only on time sheets — and overbilled the district for software licenses.

Acar and Bansal were arraigned in U.S. District Court yesterday. Bansal was released on the condition that he remain in the area, but Acar was locked up for a long list of reasons spelled out by the U.S. District Attorney Tom Hibarger. He pointed to Acar’s connections to Turkey and to alleged efforts to create bank accounts outside the U.S.

In addition, Hibarger told the judge that officials didn’t know whether Acar still had access to the district’s IT systems. Hibarger’s concern, and Acar’s role as an acting chief security officer, raised questions about the security of the systems and whether they’ve been compromised as part of the bribery scheme.

Asked whether the district government is looking into the security of its IT systems in the wake of the arrests, a spokesman for the D.C. mayor’s office deferred comment, for now, to the FBI and U.S. attorney office, which are leading the investigation. A spokeswoman for the U.S. attorney’s office wouldn’t comment on any IT-related aspects of the case

[Coronita]

[quote=arraya]http://www.foxnews.com/politics/2009/03/17/recover-aig-bonuses-lawmakers-scramble-undo-protections-approved/

To Recover AIG Bonuses, Lawmakers Scramble to Undo Protections They Approved
Though Connecticut Democratic Sen. Chris Dodd is among those leading the charge on retrieving AIG bonuses, an amendment he added to the $787 billion stimulus bill last month created a roadblock to getting that money back.

Now this is some funny shit,

Chirstoper Dodd writes an amendment to the stimuls bill protecting the bonus money that was “guaranteed” before 2/11/2009 and now that it’s been paid out and found out and

there is public outcry over it (as there should be) his own bill is preventing them from getting the money back.

Talk about having something blow up in your face, I bet Barry O is fit to be tied right about now.

FWIW the linked artilce states that the Senator that got the most campaign money from AIG – yep thats right Chris Dodd.

An ole Chris was gonna repay the favor by stacking the deck only the deck has just crashed hard on his head.

As I said, that’s funny right there, I don’t care who you are .. that’s funny[/quote]

Yup…I caught that too.

What’s getting even more funnier (i know there is no such word) is despite what Obama has been saying about ethics/integrity, that appointment after appointment, each keeps turning up with some skeleton in the closet. First it’s Geitner’s slippery slope tax evasion. And now this….

Obama’s CIO mired in bribery allegations.

http://www.computerworld.com/action/article.do?command=viewArticleBasic&articleId=9129635&intsrc=hm_list

http://valleywag.gawker.com/5172741/white-house-forgives-cios-youthful-indiscretion

What the heck. It’s almost as if this is a page out of Sales/Marketing 101…If you have a really sour fruit. Market is as the “the juicest, sweetist fruit on the planet”….Similarly, if your appointments/buddies has ethics issues, market your administration as the “most ethical administration, where ethics is #1”.

I have to hand it to the Bush administration. Although that was notorious admin, they were better at covering up their corruption. This admin, either they are too dumb to cover up stupid shit or they are so arrogant/flamboyant about it that they don’t care.

Change, you betcha.

——

Kundra takes leave of absence from federal CIO post
The move follows allegations of bribery in D.C. office he ran
By Patrick Thibodeau

March 13, 2009 (Computerworld) WASHINGTON — The fallout from Thursday’s arrests of a District of Columbia IT security official and contractor quickly raised questions about the fate of Vivek Kundra, the new federal CIO who until recently ran the office now mired in bribery allegations.

Until his appointment by President Barack Obama as CIO less than two weeks ago, Kundra was chief technology officer for the District of Columbia. But yesterday, Kundra’s former ninth-floor office in a downtown government building was a crime scene. A police officer was stationed in the office lobby while investigators searched through records.

A White House official confirmed today that Kundra took a leave of absence from his new CIO job shortly after federal investigators arrested two men in the D.C. government office on bribery charges. The official would not elaborate on the reasons for the leave; there were no indications yesterday that Kundra was involved in any wrongdoing.

Kundra’s decision could slow his plan to create a “revolution” in the federal government’s use of technology.

On the face of it, the allegations have the appearance of a simple financial crime: bribery. Two men have been charged: Yusuf Acar, who currently is the District of Columbia’s acting chief security, earning $127,468 a year, and Sushil Bansal, CEO and founder of Advanced Integrated Technologies Corp., a Washington-based outsourcing vendor that has won a number of contracts from the district’s IT department.

Federal law enforcement officials allege that the two men created “ghost” workers — people who existed only on time sheets — and overbilled the district for software licenses.

Acar and Bansal were arraigned in U.S. District Court yesterday. Bansal was released on the condition that he remain in the area, but Acar was locked up for a long list of reasons spelled out by the U.S. District Attorney Tom Hibarger. He pointed to Acar’s connections to Turkey and to alleged efforts to create bank accounts outside the U.S.

In addition, Hibarger told the judge that officials didn’t know whether Acar still had access to the district’s IT systems. Hibarger’s concern, and Acar’s role as an acting chief security officer, raised questions about the security of the systems and whether they’ve been compromised as part of the bribery scheme.

Asked whether the district government is looking into the security of its IT systems in the wake of the arrests, a spokesman for the D.C. mayor’s office deferred comment, for now, to the FBI and U.S. attorney office, which are leading the investigation. A spokeswoman for the U.S. attorney’s office wouldn’t comment on any IT-related aspects of the case

[Author]

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