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Pentagon nominee agrees to sell Raytheon stock
International Herald Tribune ^ | 1/25/2009

Posted on 01/25/2009 6:34:42 AM PST by markomalley

A former Raytheon lobbyist nominated to be deputy defense secretary despite President Barack Obama's ban on hiring lobbyists will sell his stock in the military contracting firm.

However, William J. Lynn won't be forced to step back from decisions related to his former employer, the Pentagon said Friday.

Instead, Lynn's dealings at the Defense Department will be subject to ethics reviews for one year, said Pentagon spokesman Geoff Morrell.

The Obama administration's decision ended around an executive order that the president signed Jan. 20. His "revolving door" ban, part of Obama's "ethics commitments," ordered officials who had been lobbyists for up to two years prior to their hiring to recuse themselves from decisions involving their former employers.

Under the ban, former lobbyists could not "participate in any particular matter" they had been involved in as a lobbyist or "participate in the specific issue area in which that particular matter falls."

But Lynn avoided a total recusal under the decision announced by Pentagon officials Friday.

On Thursday, the administration delivered to the Senate Armed Services Committee a waiver to Obama's "ethics pledge" for federal employees, exempting Lynn from two specific sections: a two-year prohibition on employees from participating in decisions related to their former employers and a more specific section banning individuals from taking jobs in the agencies they recently lobbied.

"I understand that Mr. Lynn will otherwise comply with the remainder of the pledge and with all pre-existing government ethics rules," the waiver states.

(Excerpt) Read more at iht.com ...


TOPICS: Business/Economy; Crime/Corruption; Extended News; Government
KEYWORDS: corruption; obamaregime
Classic Ø. The ethics rules apply unless they don't apply.

And, if you take a look at http://www.opensecrets.org, you will find that Raytheon is a very Democratic company. Just as a point of interest for those of you out in TV land...

1 posted on 01/25/2009 6:34:42 AM PST by markomalley
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To: markomalley

“I robbed the bank, but it’s OK... I’ll take the money back...”


2 posted on 01/25/2009 6:36:18 AM PST by xcamel (The urge to save humanity is always a false front for the urge to rule it. - H. L. Mencken)
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Comment #3 Removed by Moderator

To: Chris DeWeese

All of the crying the Democrats did about Cheney quitting Halliburtion to work for Buh and they turn around and do the same thing with this character.

Friggin Democrats. What a sorry lot.


4 posted on 01/25/2009 6:44:57 AM PST by Venturer
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Comment #5 Removed by Moderator

To: markomalley

Five days as President, three scandals:

1) Richardson drops out of consideration for Commerce Secretary, America suspects previous chicanery will surface
2) “Financial genius” makes “innocent mistakes” on his tax returns, repeatedly refuses to say whether he would have paid back taxes if he had not been nominated as Sec of Treasury
3) Ban on lobbyists serving in administration, unless Obama wants them to


6 posted on 01/25/2009 6:48:23 AM PST by jiggyboy (Ten per cent of poll respondents are either lying or insane)
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To: markomalley

oh good..as long as he gets to keep his Haliburton stock. The democrats love Haliburton. /sarcasm


7 posted on 01/25/2009 7:02:54 AM PST by penelopesire ("The only CHANGE you will get with the Democrats is the CHANGE left in your pocket")
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To: Chris DeWeese
What a cluster. This is dangerous as it is designed to allow O to say who can and cannot serve according to his edicts ( formerly known as executive orders). It creates a legal wall to rebuff all comers until he can issue an edict which is done at his pleasure.

Not sure if this is a plot or just incompetence about how government and law works.

8 posted on 01/25/2009 7:14:33 AM PST by auntyfemenist (If only FDR could come on TV again to encourage us.)
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To: markomalley
I can't believe no one sees this as the grave misuse of executive orders and power that it is.
9 posted on 01/25/2009 7:17:25 AM PST by auntyfemenist (If only FDR could come on TV again to encourage us.)
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To: markomalley

Oh, I feel sooo much better now.

O will be monitoring the ex lobbyist for one year.

Kind of like they are monitoring Rangel and assorted other dem crooks.


10 posted on 01/25/2009 7:27:00 AM PST by Carley (Remember when we had a real President)
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To: jiggyboy

Five days as President, three scandals:

1) Richardson drops out of consideration for Commerce Secretary, America suspects previous chicanery will surface
2) “Financial genius” makes “innocent mistakes” on his tax returns, repeatedly refuses to say whether he would have paid back taxes if he had not been nominated as Sec of Treasury
3) Ban on lobbyists serving in administration, unless Obama wants them to

not quite scandal level:

4) Rahm Emmanuel / Illinois governor questions
5) citizenship questions


11 posted on 01/25/2009 7:32:35 AM PST by jiggyboy (Ten per cent of poll respondents are either lying or insane)
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To: markomalley
Pentagon nominee agrees to sell Raytheon stock

Well, at least he will probably lose a bunch of money. That is until he gets his paybacks later.

12 posted on 01/25/2009 7:56:40 AM PST by Right Wing Assault (What's Obama's Secret?)
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To: markomalley
What Fartknockers....

At least Cheney donated his, what some 30 million worth...

No mention if he will hire a high end Financial Planning Firm and open a "Blind Trust" like GWB and Cheney and many others do...

Beam me up Scotty the duplicity and financial ignorance of the lame-stram-media is astounding...

13 posted on 01/25/2009 8:05:07 AM PST by taildragger (Palin / Mulally 2012)
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To: markomalley

Bush got accused of going to Iraq to help his oil company buddies get rich. Bush had no oil investments but just having friends in the oil companies was enough. In this case, we have a DOD contractor actually being allowed to favor his company. Man oh man.


14 posted on 01/25/2009 9:07:14 AM PST by yazoo
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To: markomalley

Does he get the standard waiver on the Capital Gains tax that goes with this?


15 posted on 01/25/2009 10:11:22 AM PST by SlapHappyPappy
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