Sunday, June 26, 2011

Billionaires give big to new 'super PACS'

The outside role a small number of extremely wealthy donors is playing in the run up to the 2012 elections is highlighted by the first early finance reports of the new campaign cycle filed late last week by two so-called "super PACs " — political groups that can raise unlimited amounts from individuals, corporations and labor unions.

Michele Bachmann denies benefiting from government aid,0,3115941.story

As the Minnesota Republican kicks off her run for the presidential nomination, she responds to a Los Angeles Times report about federal money that went to her family's farm and her husband's counseling clinic.

Rep. Michele Bachmann deflected allegations Sunday that she and her immediate family had benefited from government assistance despite her demands to cut the federal budget, saying hundreds of thousands of dollars for her family farm and a counseling clinic went to employees and her in-laws.

China's Great Swindle: How Public Officials Stole $120 Billion and Fled the Country*

A report by China's central bank found that thousands of Chinese government officials have smuggled billions out of the country and fled, mainly to the U.S., highlights "the corruption within a corrupt system"

Republican Romney to tap ex-pat wealth in London

Republican presidential hopeful Mitt Romney takes his fund-raising machine to London next month, holding a reception aimed at wealthy American expatriates working at banks and hedge funds.

A handful of London fund-raisers were held during the 2008 presidential election cycle, but Romney's event, scheduled for July 6, will be the earliest ever of its kind.

The reception will be held at Dartmouth House, an opulent mansion in the heart of Mayfair that is often used for weddings and conferences.

The suggested contribution to the "Romney for President" campaign is $2,500, according to an invitation seen by Reuters. Under U.S. law, only American citizens and green card holders can contribute.

Home Depot accused of violating Buy American Act

Newsvine - Home Depot accused of violating Buy American Act

The photograph on the Home Depot Web site shows a line of smiling soldiers unloading a truck stacked with power tools and other company wares.

The company says this shows "federal dollars go farther at The Home Depot." San Francisco Attorney Paul Scott says the photo also shows the company providing Chinese-made products in violation of the Buy American Act, and the U.S. Department of Justice is investigating.

A federal judge in April refused Home Depot's bid to toss a whistle blower lawsuit Scott and other attorneys filed against the company. Now the country's largest home improvement retailer is the latest company accused of running afoul of the Buy American Act, a 1933 law aimed at protecting U.S. jobs. The law requires that all materials used in construction of public projects originate in the United States or "designated countries."

Fox’s Chris Wallace To Michele Bachmann: ‘Are You A Flake?’