Bill Richardson will withdraw as Commerce Sec.

Drudge Report ^

[MeanGreen2008]

OBAMA-BUST: Bill Richardson will withdraw as Commerce secretary... Developing...

[CedarDave]

Did you see the half page of letters to the editor in Friday’s Journal?? Most from Democrats giving more details on King Bill’s appointments of cronies to high-paying positions he created out of thin air and not authorized by the legislature.

Here is the article just posted by me with a link to the letters to the editor:

Top Gov. Aides, Readers Weigh in on Appointees (NM-Richardson scandal)

Readers: Rein This Santa In

[ari-freedom]

[stockpirate]

Will Ozama pardon Bill Richardson?

[CedarDave]

Titles of some of the letters, including one by the former State Personnel Director who blasts Richardson for rewarding his cronies to the detriment of other state employees, both classified and exempt:

• Salary Revelations Were Long Overdue
• Gov.'s Departure Will Be Banner Day
• Wild Spending Out Of Touch With N.M.
• Personnel Act Was Violated by Hires (from former SP Director)

[Cedric]

Will Ozama pardon Bill Richardson?

No, Bush will.

[CedarDave]

Thanks lainie

[The KG9 Kid]

"... Its stunning how corrupt and incompetent this Hope and Change is already."

"SAMEge"

[luvie]

And another one bites...another one bites...another one bites the dust.

[ConservativeMan55]

True

[utax]

Nope. I believe this is another event.

[Fishtalk]

I am reminded of the top secret documents at Los Alamos discovered behind the copy machine.

And Bill Richardson tells this tale on TV, which I heard with my own lying ears, with a straight face.

This happens every day, no?

[Jackknife]

He wants to spend more time with his beard.

That's damn funny .......

[Fishtalk]

First thing I thought of when I read this headline was that the Clintons were somehow getting even with Richardson.

Bill Clinton’s still fuming over Richardson’s betrayal. Maybe he convinced one of his many felon friends to threaten to out Richardson for some crime of another.

Because Clinton WOULD know about many of Richardson’s crimes, would he not?

[Girlene]

Very interesting, lainie. More about CDR, Broken Promises , November 2006

"Wall Street created $7 billion in bonds for housing and schools. The tax-exempt deals were a ruse; banks and advisers collected millions in fees and investment gains. The public got nothing. "...........

........."During the past decade, local governments across the U.S. have issued more than 70 of these phantom bonds -- at least $7 billion of them." ......Proceeds from the tax-exempt bond sales are supposed to be used to improve homes for the poor or upgrade health care for the elderly or supply computers to inner-city schools. "....

......"Taxpayers never get most of those benefits; the winners are the banks, insurance companies and financial advisers that get paid millions of dollars for crafting these transactions and then profit by using bond proceeds for their own investment gains...."

....."Black Box Deals --The arrangements -- often called black box deals, because they're complicated and mysterious -- sometimes contain secret agreements that promise to pay the financial middlemen higher fees if none of the money from the bond offerings is used to help the public. The agencies that issue the bonds buy them back from investors. The money goes untapped, and the advisers keep their fees. "...

....."The Fees --- In the Florida deal, a little-known government body called the Capital Trust Agency turned the work over to its advisers: Anchor National Life Insurance Co., a subsidiary of AIG; CDR Financial Products Inc., a Beverly Hills, California-based financial advisory firm; and underwriter JPMorgan. These companies and other middlemen extracted $12 million in fees from the bond issue; the rest of the money went unused.

The AIG unit and CDR had an agreement the agency says it didn't know about that allowed CDR to increase its fees as long as the money wasn't spent for its intended purpose, according to a Nov. 18, 1999, letter from CDR President David Rubin to AIG's Anchor National Vice President J. Franklin Grey.

The less money that was used to acquire and renovate apartments, the more money CDR stood to make, and the less risk AIG's affiliate faced as an insurer since all of the money stayed in a safe account. ".............

No wonder they were doing the pay to play stuff. Quite lucrative!

[SeanOGuano]

BBROYGBVGW

[sono]

Hope, Change and Corruption ...

[NRA2BFree]

IMO, Richardson's a crook. He belongs in jail, not sitting as governor of NM, nor in any government position. This is the best account of Richardson's questionable actions that led to different scandals. This quote from this article says it all: "RICHARDSON'S CAREER HAS BEEN FILLED WITH SCANDAL AND ETHICAL PROBLEMS."

This is a company that he was on the board of directors when it went under. It was the corporation that led to the demise of Arthur Anderson's huge accounting firm.

You will laugh at his current position on corporations. He's such a hypocrite.

[Raven6]

"BBROYGBVGW" - SeanOGuano

When I was in high school, my assigned homeroom was the electricity/electronics tech room... We always wanted to know where Violet was... Never did find her!Regards,
Raven6

[wedwo]

[top 2 toe red]

The shocking thing is that he actually asked that his name be withdrawn.

That was probably a better option...the other option being a visit to the Park-of-No-Name that makes Fort Marcy look like Disneyland. ;^)