hypocrisy

Linda McMahon's "Trick or Treat" on CT workers and taxpayers

It's Mischief Night tonight, and I hear the "Wild RINO". Linda McMahon has picked out her Halloween costume for tomorrow evening.

Mask - Reagan

(Try not to scare Rahm Emanuel!, Linda)

One thing that Ms. McMahon is eager to portray is being the self-reliant hardscrabble businesswoman who rose to billions solely through single minded hard work and perseverance.

And just like the sport: Wrestling's fake. And so is the WWE's true committment to free enterprise.

That is, unless your definition of "free enterprise" includes sinking one's snout deep, deep into the public trough guzzling corporate welfare.

From the Journal-Inquirer.

A top aide to Republican U.S. Senate hopeful Linda E. McMahon today defended her company’s acceptance of millions of dollars in state tax credits, as both Republican and Democratic opponents pilloried her for what they called McMahon’s “stimulus package” and “taxpayer-funded bailout.”The attacks by former 2nd District Congressman Robert R. Simmons, the leading Republican seeking to unseat U.S. Sen. Christopher J. Dodd, and by a Dodd surrogate, state Democratic Party spokeswoman Colleen Flanagan, came after the state subsidies to World Wrestling Entertainment Inc. were reported Thursday by the Journal Inquirer. 

The newspaper cited state records that show WWE has collected nearly $3 million in digital and media tax credits, most of which were issued just eight weeks before McMahon resigned her position as its chief executive officer to run for office.

Yep, Linda McMahon's immensely profitable wrestling empire gets subsidized by the Connecticut taxpayer, who are watching the income tax raised on the top bracket, public services reduced, and the state try and borrow its way through the recession. Indeed, unionized state employees even agreed to concessions, which is more than can be said about the state's would-be entertainment titans.

The apologists for the state's highly subsidized entertainment industry accuse McMahon critics of "jumping the shark" .  You see, it was other politicians who wrote these lucrative credits into the law.

Sorry, none of them are spending millions denouncing bailouts when they run a profitable corporation that takes them themselves.  It's "Happy Days" alright for the McMahon family, but the average CT taxpayers feels like they are in remake of "Jaws" 

jaws

So the news media has concluded that Ms. McMahon, whose family controls the vast percentage of the WWE's stock, converted tax credits from the state into funds available for her campaign. Maybe this is a form of "public campaign finance"

But it gets worse.

Despite the fact that the WWE was very profitable notwithstanding the recession, shortly before she left her CEO post  at the WWE Linda McMahon went on a frenzy of layoffs and cost-cutting intended to raise profit margins.

Jan. 9, 2009, 9:38 a.m. ESTMcMahon & Co. has announced that it is cutting 10% of its staff, which should result in annual cost savings of approximately $8 million. In exchange for that, the company will take a one-time charge of $3 million. WWE also noted that the company has completed an evaluation of its operating and capital expenditures and has identified "additional efficiencies." In short, more cost cuts are on the way. The company's ultimate goal is to trim $20 million from its expense structure in 2009. 

I'm the last person to lambaste a business that cuts costs to stave off competition, or to stockpile cash, or to pay off lenders and creditors.  And we are going to see a lot of very necessary cuts like that in Corporate America. But the WWE is essentially a monopoly in pro wrestling, they have consistently earned a profit and have $200 million in cash with virtually no long term debt..     So why the urgency to cut costs?  Well, as I noted the McMahon family owns 70% of the WWE  Let's apply 70% of the $20 million in cut costs; well that means $14 million inures to the McMahon family..

So,does the Wild RINO gets to finance most of her U.S. Senate campaign with "new money" without having to dip into the family fortune? Sure looks it.

... _&_Linda_McMahon_WWE.jpg

 

McMahon's campaign has run a TV ad telling folks how tough it was for her and Vince starting out, even having to declare bankruptcy and losing their house starting their business.

Hey Linda, like that's special. Please.

What really sickens me is it appears she is paying for this ad using the extra profits she earned after firing over 60 Connecticut employees.  

How many of those 60 WWE's employees are going to lose their house so their old boss can finance her U.S. Senate bid without dipping into the accumulated family fortune? ... office with many empty desks In 2006 Joe Lieberman eviscerated the campaign of Ned Lamont after running this ad.    

It's tough wearing a costume as a free market Republican and expecting people to believe you; Linda.

Especially when you destroy jobs, not create them . And collect subsidies. Not cut them.

We're onto the trick, Linda. You already got the treat.

From tiny ACORNs, mighty hypocrites are born

As you may have read, last night the U.S. Senate voted to defund ACORN in the wake of their "whores R us" scandal.

Many of the 83 Senators who voted "yea" are going now to desperately sweep all their close ties with the troubled activist group into the 'ole memory hole. But one Senator is going to have an especially hard time doing this.

Chris Dodd

Seems the Senator is warmly praised on ACORN's own website!

Sen. Dodd Meets with ACORN to Discuss Foreclosure Prevention

Senator Chris Dodd and Bridgeport Mayor Bill Finch with ACORN members March 28. Donna Pearce, on right, worked out a loan modification to save her home through ACORN's housing counseling.

 

BRIDGEPORT, Conn. – U.S. Senator Chris Dodd and Bridgeport Mayor Bill Finch met to discuss strategies for fighting foreclosures March 28 at the home of ACORN member Donna Pearce.Pearce thanked the senator for his support of NeighborWorks, which helps provide funding for foreclosure counseling services. She was able to work out a loan modification to save her home from foreclosure by working with ACORN’s housing counselors."I think we're all just a bit jealous of the great work ACORN does," said Finch. He later added, “We should make sure everyone who signs that paperwork to buy a house has ACORN’s number tattooed on their wrist.”Dodd recently unveiled draft legislation, the “HOPE for Homeowners Act of 2008,” that would set up a mortgage refinancing division of the Federal Housing Administration to aid homeowners overwhelmed with unaffordable mortgages. Similar legislation has also been drafted by House Financial Services Committee Chairman Barney Frank.“This proposal will help provide much-needed relief for people on the brink of foreclosure,” Dodd said. The bill, which extends only to owner-occupied houses, is aimed at “keeping families in their houses and neighborhoods financially stable.”

   Now that Dodd is running behind in his bid for re-election, time to try and make people forget he tried to divert tens of billions of dollars from the TARP bailout to fund ACORN and their allies, even if the taxpayers lost money on TARP . Thankfully, this was headed off, but Dodd got a smaller slush fund tacked on the earlier mortgage relief bill. 

Chris Dodd's various bailouts haven't done much for the overall economy,but's he's made sure they've done plenty for ACORN.

And now, time to cut them loose. Like they haven't been a rogue outfit for years. Please.

Perhaps we ought to add this picture next to the definition. Chris Dodd

 

Green for thee, but not for me! CT liberal resumes driving Crown Victoria

CT Attorney General Dick Blumenthal never met an energy project he couldn't litigate or regulate out of existence, whether it be for the "save the planet" global warming crusade or the NIMBYism of neighbors opposed to power lines.

So when he got called out on driving his state issued Ford Crown Victoria all over the state he promised to switch his official car to a hybrid

Oops, looks like his carbon footprint is getting floored once again.

  

Attorney General Richard Blumenthal, an environmental champion, is no longer driving his state-issued Honda Civic hybrid. He returned the “silver bullet” a few weeks ago to the state garage and traded it for a gas guzzling Crown Victoria.

He said earlier this week that he’s waiting for another Honda Civic hybrid with lower mileage, but refused to take back the one he brought in for repairs.

A few weeks ago, he was driving down I-395 when the dashboard lights started flashing at him. He said this was the second time the car had given him problems, the first was back in May when a battery needed to be replaced, a few days after the check engine light appeared the first time.

Typical liberal: demands the common folk drive whatever the experts order; but makes sure he goes in style for his own ride.

At least Chris Murphy is helping the environment; since he's been scarce in public since the Simsbury Stop & Shop Showdown he's not doing much harm even if he still has HIS gas guzzler.  

Full disclosure: I drive a Toyota Corolla (36 mpg hwy); the Mrs. drives a late model Malibu (33 mpg hwy).

Read it here first!

Let's guess how many letters to the editor from "concerned ctizens" read verbatim like this one over the next few days

Dear MoveOn member,

Right-wing mobs aren't just disrupting congressional town halls—their outlandish lies are now making their way into mainstream news coverage, too.   

We need to set the record straight. The majority of Americans support real health care reform. And no wonder, given the incredible cost of inaction.

In Connecticut alone, 100 people lose their coverage every day. And for those with insurance, yearly premiums will hit $24,480 in a few years if we don't act.

We can't let right-wing extremists ruin the biggest opportunity in a generation to get real reform. Can you send a quick letter to the editor of The New Haven Register—or another local paper—about the urgent need in Connecticut for Congress to pass health care reform with a real public option?  

Click here:

http://pol.moveon.org/lte?campaign_id=116&id=16803-9234983-y3OtbFx&t=3

Our tool makes writing a letter really simple. You can send the letter right from our website—it only takes a few minutes.

If you've never written a letter to the editor before, now is the time to send your first. The letters page is one of the most widely read—and most important—in local newspapers. Members of Congress and their staffs read it to understand how their constituents are feeling. And since members are all home in the district this month—and paying close attention to the health care debate in particular—your letter will make an even bigger impact.  

Here are some talking points specific to Connecticut you can use in your letter:

  • We can't afford to wait for reform: Each day, 100 people in Connecticut lose their health care coverage. And without reform, those who still have insurance will see their yearly premiums go up by $10,134 in the next decade—to a staggering $24,480.

  • Reform with a real public option is key to expanding coverage: Under current legislation, which includes a strong public health insurance option, 261,000 people in Connecticut—and 37 million Americans nationwide1—will gain coverage by 2019.

  • A real public health insurance option is crucial to lowering costs: With premiums projected to hit $24,480, we need to get costs down. By spurring competition, a public plan will help bring down out-of-control costs2 for individuals, families, and small businesses.

Can you send a letter to the editor of The New Haven Register, or another local newspaper, as part of our "Real Voices for Change" campaign? Just click here to get started:  

http://pol.moveon.org/lte?campaign_id=116&id=16803-9234983-y3OtbFx&t=4

Thanks for all you do.

–Nita, Kat, Eli, Wes, and the rest of the team

I love it when these folks get the sense they aren't making any headway.  And, hello, if the single payer people need to keep Rosa DeLauro and Chris Murphy in line things are even more dire for that side than I thought.

Of course, I don't expect the dullards in the press to notice that they are getting astroturfed, big time.

Hey!!! now liberals think big business are the good guys!

Back to Chris Murphy, my district's chameleon in Congress. Once upon a time he was the most vocal opponent of America's drug companies as being the exploiters of our nation's vulnerable sick people.

But now there's a lovefest between the drug companies and Chris, and based on what I hear on my car radio, Mrs. Murphy ought to be concerned they are going to be getting a room together.  The ad blitz the pharmaceutical lobby is running makes Murphy out as their best friend forever.

Amazing what tucking enough pork in the trillion dollar health care bill can do to make the special interests like you, Chris.

Here's the 2006 version Murphy, who campaigned against Congresswoman Nancy Johnson, whom he considered a lackey for Big Pharma. First, his buddies @ Moveon.org  portrayed Johnson as a crook for accepting donations from the health care industry.

The new spots draw a connection between the lawmakers’ support for the controversial Medicare prescription-drug benefit and campaign contributions from drug companies. “Another Republican caught red-handed” is the tag line; the lawmaker’s hand is illustrated as turning red.

Johnson is an author of the Medicare bill. Her opponent, state Sen. Chris Murphy (D), has made criticism of the drug benefit one of his campaign’s most prominent themes.

A pro-Murphy blog even claimed Johnson was "the drug companies best friend" 

And Murphy's own campaign ran a saturation TV ad buy of a befuddled senior claiming Johnson's allies were all trying to scam him, while a list of political contributors scrolled by. See it for yourself before Murphy has it pulled down. 

Now the 2009 version Chris Murphy has bought the support of the drug companies with promises of massive taxpayer funding. (Bailout, anyone?). Meantime, his allies on the Energy and Commerce Committee are trying to take away our ability to choose our own insurance plan.

Let's see. Nancy Johnson got a bill passed that helped seniors and gave them more choices. Bad.  Chris Murphy wants a bill that takes away choice, rewards special interests, and gouges taxpayers. Good? 

Worse still, the same Chris Murphy that argued the Medicare D "donut hole" was bad for seniors in 2006 now apparently endorses hundreds of billions in Medicare Cuts.

(BTW, Chris. isn;t the Medicare prescription drug plan pretty much the same now as when you found it?....hmmmmm) 

Chris. I'm willing to do you a favor.  You can borrow my dictionary.

A bit late for outrage, Senator Dodd

The Hartford Courant posted this, indicating Senator Dodd is losing his cool 

When I pick up the morning newspaper and I read the first headline that "Fault Lines Emerge and Industry Groups Blast Plan to Create Consumer Agency," what planet are you living on?'' Dodd said.

"The very people who created the damn mess are the ones now arguing that consumers ought not to be protected.  They're the people who paid this price.  And the idea that you're going to first attack the very clients and customers who depend on you every day is not the place to begin. I am somewhat upset when I see those kind of remarks."

Four words Chris; Too Little. Too Late.

Maybe back in the day when you were "the Banker's Candidate" you might have wanted to look out for consumers

Naw.

Remember when you hauled your buddies from Countrywide before your Committee to discuss how they were plundering working people with subprime lending...

Well, it was 2007, and you were running for President, and so you did pretty much....nothing

Senator Christopher J. Dodd, Democrat of Connecticut and the chairman of the banking committee, said he did not know if new legislation was necessary, saying regulators could addresses most excesses under existing laws.  http://query.nytimes.com/gst/fullpage.html?res=9E01EEDE1530F930A15750C0A9619C8B63

 

Guess that was "defending Connecticut's middle class" NOT

 

Here's what Rutgers Professor Ross Baker said of Dodd's "leadership" during the financial crisis

 

 

Critics are seizing on that now, saying Dodd should have been paying more attention to red flags in the economy.

"He wasn't asleep at the switch," Baker said. "He wasn't even at the switch."

Chris, good luck pretending you didn't do your part to create the mess.  We're ready to put you on the curb first chance we get.

The brilliance of Nobel laureate Paul Krugman

I chime in with Megan McArdle (H/T)

Wow.  Just . . . wow.  .Paul Krugman, circa 2002

The basic point is that the recession of 2001 wasn't a typical postwar slump, brought on when an inflation-fighting Fed raises interest rates and easily ended by a snapback in housing and consumer spending when the Fed brings rates back down again. This was a prewar-style recession, a morning after brought on by irrational exuberance. To fight this recession the Fed needs more than a snapback; it needs soaring household spending to offset moribund business investment. And to do that, as Paul McCulley of Pimco put it, Alan Greenspan needs to create a housing bubble to replace the Nasdaq bubble. (emphasis added)

My word, was this ever nonsense on steroids.

I can assure you that the people actually involved in real estate finance out in the hinterland in the early '00's would have explained quite concisely the risks in "bubbling" real estate---since Mr. Krugman obviously ignored the popped bubble circa 1989-1990. But we aren't Ivy League eggheads and we weren't asked.

Let's deconstruct the impact of this remarkable paragraph

A) It was easy for Paul Krugman to identify the real estate bubble in 2006 since it was exactly what he lobbied for in 2002.

Worst still, you spent the second Bush term bashing him for presiding over policies you endorsed. 

B) Krugman often scoffed that the only tool Republicans ever want to use is cutting marginal tax rates. Look in the mirror, Paul.  Everytime the economy hits the least bit of trouble, you immediately demand the fire hose of stimulus --either monetary or fiscal or both--be turned on.  It' a Johnny-one-note approach.

C) The solution to the popped Nasdaq bubble was the real estate bubble. Now the solution to the popped real estate bubble is the federal budget bubble. When the Chinese stop lending to us. are we going to find another bubble to blow up?  What is this--Bazooka economics?

There's always a crisis in capitalism for Paul, and there's always a bubble to fix it.  Should the guys in Oslo do a recount about that award about now? 

Another Dodd donor debacle: ICE and oil speculators

The hits keep on coming on Chris Dodd's flaky first quarter finance report.

We learned he raised $44,000 from usurious payday lenders. So, could he find some donors even more anti-consumer than that bunch?

Chris Dodd's dwindling support

The fallout from Chris Dodd's lack of love from his home state continues.

Republican challenger Sam Caligiuri released a web video mocking the "groundswell" of support for Dodd in Connecticut.

We have also learned that Dodd's local support was even worse than thought. Republican state chairman Chris Healy ascertained one of Dodd's alleged "local" donors lived in a different Watertown than Watertown, CT; so he's now down to FOUR LOCAL DONORS 

(I have heard there may be more shoes to drop from Dodd's financial report; stay tuned)

So just four local donors and a trail of stiffed people from his last campaign....  

And Dodd still owes nearly $300,000 from his monumental failure of a presidential race in 2008......including this bit of "fiscal responsibility"

but Dodd owes smaller sums to a Des Moines watering hole Kilkenney's ($220), Clinton, Iowa's Old Town Family Restaurant ($130)....

(Note to CT barkeeps; this guy runs out of on his tab. Make sure he pays cash)

He has paid his lawyers almost $150,000 in campaign funds...hmmm.

Well, given how this is working for the Senator, maybe he ought to call his campaign the "Fab Four"

All that special interest money ain't buying him any love back here  

 

Well, this article does sorta say it all

Dodd's Troubles Open Debate on Congress' Ties With Special Interests

 Dodd has become the poster boy for critics who say the inevitable ties between longtime members of Congress and special interests are undermining efforts to revive the economy.

"He literally thinks he's going to play a critical role from saving us from ourselves," Christopher Healy, the Republican Party chairman in Connecticut, said of the Democratic senator.

"It's like putting the arsonist in charge of the volunteer fire department. He knows where the fire is because he set it. But beyond that, he can't offer much help."........

Ross Baker, a politics professor at Rutgers University and a congressional scholar, said the ties between lawmakers and special interest groups have bothered him for a long time.

"No one leaves Congress living at the same level they came in," he told FOXNews.com.

"More than anything else, it's getting insider information, getting special deals that on the face are not illegal. But they're in a privileged position."......

Critics are seizing on that now, saying Dodd should have been paying more attention to red flags in the economy.

"He wasn't asleep at the switch," Baker said. "He wasn't even at the switch."

There's really not much more than I can add. Sleazy, self-centered and incompetent. The trifecta of failure all packaged together in one article. Perhaps this sums up the worst problem with Dodd.

"They're trying to weave things together that have been reported on widely over the years," Dodd said. "They are taking some items that are frankly, old news, routine transactions, and trying to make more out of it."

For Wicca's sake, you've spent a career hanging out with grifters like Ed Downe Jr. and abandoned the helm of the Banking Committee right when the financial tsunami appeared on the horizon, and you don't realize you did anything wrong.  

You have sat too long for any good you have been doing lately... Depart, I say; and let us have done with you. In the name of God, go!

 

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