Friday, August 28, 2009

Time to drain the Swamp...


...Charlie Rangel should be the first to go. As a native new Yorker, I have always been embarrassed by him. He's been in power since I was 8 years old.
Earlier this month the Chairman of the tax-writing Ways and Means Committee "amended" his 2007 financial disclosure form—to the tune of more than a half-million dollars in previously unreported assets and income. That number may be as high as $780,000, because Congress's ethics rules only require the Members to report their finances within broad ranges. This voyage of personal financial discovery brings Mr. Rangel's net worth for 2007 to somewhere between $1.028 million and $2.495 million, while his previous statement came in at $516,015 and $1.316 million.

When you're a powerful Congressman and working diligently to increase tax rates to pay for President Obama's health-care plan, we suppose it's easy to lose track of one of your checking accounts. That would be the one at the federal credit union with a balance somewhere between $250,001 and maybe as high as $500,000. And when you're crunched for time and pulling together bills to pass in a rush, we guess, too, that you might overlook several other investment accounts, even if some of them are sizable, such as the ones Mr. Rangel missed at JP Morgan, Merrill Lynch, Oppenheimer and BlackRock.
Another interesting point of this story... "Congress's ethics rules only require the Members to report their finances within broad ranges."

I'm sorry but... WTF? How about a "broad range" on my 1040? What a bunch of skunks. Time to drain the Swamp.

WSJ article here. More on the story from the NY Post here.
Charlie.. in his own words here.

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