Los Angeles Times, February 1, 1989
Drexel Sought Help From 9 in Congress to Pressure SECDrexel Burnham Lambert Inc., currently facing federal charges of securities fraud, recently enlisted nine members of Congress from California--at least seven of whom have received campaign contributions or honorariums from Drexel--to bring pressure on the Securities and Exchange Commission to lighten the terms of a proposed settlement of the case.
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California's two senators, Democrat Alan Cranston and Republican Pete Wilson, each wrote letters on Drexel's behalf, and Rep. Henry A. Waxman (D-Los Angeles) wrote a third letter, which was signed by six other Los Angeles-area congressmen.
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In recent years, Drexel has been a generous source of honorariums--speaking and appearance fees--as well as campaign contributions for members of Congress. The firm also employs one of Washington's highest powered lobbying outfits, the law firm headed by well-known Democrat Robert S. Strauss.
Cranston, Wilson, Waxman and four of the other letter signers--Reps. Howard L. Berman (D-Panorama City), Mel Levine (D-Santa Monica), David Dreier (R-La Verne) and Carlos J. Moorhead (R-Glendale)--have received thousands of dollars from Drexel and its political action committee in the last three years. Two signers of Waxman's letter, Reps. Julian C. Dixon (D-Los Angeles) and Augustus F. Hawkins (D-Los Angeles), list no Drexel contributions on recent financial disclosure reports.
Most all these politicos are freaking crooks.