DEOP's Blog

On Tuesday (12/23/08), bush pardoned Issac Robert Toussie, a Brooklyn real estate developer who had been convicted of defrauding hundreds of home buyers. This pardon did not meet Justice Department guidelines.

On Wednesday (12/24/08), Bush revoked the pardon after the New York Daily News reported the pardon of this Brooklyn developer who served time in prison for masterminding a massive Suffolk county (Long Island, NY) real estate scam.                                                  

       

In 2001 Toussie plead guilty to falsifying loan documents for 100 underqualified people, and lied to the US Department of Housing and Urban Development about his actions.                                               

    

In 2003 Toussie was convicted of mail fraud and tax evasion in a massive Suffolk County realty fraud.

And oh yeah, they also reported that Toussie’s father had contributed to the Republican party in April.

Both Toussie & his father are currently being sued in a Federal Court by 400 people who claim they were swindled into paying inflated prices for properties that the Toussie's developed.      BTW - With a Presidential pardon, no mention of Toussie's prior convictions would be allowed into testimony in that case.

The White House press secretary claimed that the reversal of the pardon was “based on information that has subsequently come to light”. Maybe they just learned of the current mortgage crisis that Toussie is a part of.

She also said that the President & the WhiteHouse counsel was unaware of the political contributions by the Toussie family that “might create an appearance of impropriety.”

To the best of their recollection………….

On Tuesday (12/23/08), bush pardoned Issac Robert Toussie, a Brooklyn real estate developer who had been convicted of defrauding hundreds of home buyers. This pardon did not meet Justice Department guidelines.

On Wednesday (12/24/08), Bush revoked the pardon after the New York Daily News reported the pardon of this Brooklyn developer who served time in prison for masterminding a massive Suffolk county (Long Island, NY) real estate scam.                                                  
       

In 2001 Toussie plead guilty to falsifying loan documents for 100 underqualified people, and lied to the US Department of Housing and Urban Development about his actions.                                               
    

In 2003 Toussie was convicted of mail fraud and tax evasion in a massive Suffolk County realty fraud.

And oh yeah, they also reported that Toussie’s father had contributed to the Republican party in April.

Both Toussie & his father are currently being sued in a Federal Court by 400 people who claim they were swindled into paying inflated prices for properties that the Toussie's developed.      BTW - With a Presidential pardon, no mention of Toussie's prior convictions would be allowed into testimony in that case.

The White House press secretary claimed that the reversal of the pardon was “based on information that has subsequently come to light”. Maybe they just learned of the current mortgage crisis that Toussie is a part of.

She also said that the President & the WhiteHouse counsel was unaware of the political contributions by the Toussie family that “might create an appearance of impropriety.”

To the best of their recollection………….

Those monitoring the financial bailout still have not received an explanation from the Treasury Department about how it is distributing billions in taxpayer money.

Treasury Secretary Paulson originally said the money would be used to buy risky loans from banks, thereby freeing the banks to make new & safer loans. Paulson however announced shortly after the funds were approved, that $250 billion would instead be used to buy U.S. bank stock.

The chairwoman of an oversight panel said she doesn't understand why it's taken so long for the Bush administration to explain its plan. "We've reversed directions more than once here, without any description of an overall strategy," she said. "It's not to say there's not one, but I don't think it should be such a well-hidden secret."

Those monitoring the financial bailout still have not received an explanation from the Treasury Department about how it is distributing billions in taxpayer money.

Treasury Secretary Paulson originally said the money would be used to buy risky loans from banks, thereby freeing the banks to make new & safer loans. Paulson however announced shortly after the funds were approved, that $250 billion would instead be used to buy U.S. bank stock.

The chairwoman of an oversight panel said she doesn't understand why it's taken so long for the Bush administration to explain its plan. "We've reversed directions more than once here, without any description of an overall strategy," she said. "It's not to say there's not one, but I don't think it should be such a well-hidden secret."

The Bush administration announced its "conscience protection" rule for the healthcare industry Thursday, giving doctors, hospitals, and even receptionists and volunteers in medical experiments the right to refuse to participate in medical care they find morally objectionable.

The rule, to be published today in the Federal Register, takes effect the day before President Bush leaves office.

The rule says providers -- including hospitals, clinics, universities, pharmacies and doctor's offices -- can be charged with discrimination if an employee is pressured to participate in care that is "contrary to their religious beliefs or moral convictions." Violators would lose their federal funds.

The Bush administration announced its "conscience protection" rule for the healthcare industry Thursday, giving doctors, hospitals, and even receptionists and volunteers in medical experiments the right to refuse to participate in medical care they find morally objectionable.

The rule, to be published today in the Federal Register, takes effect the day before President Bush leaves office.

The rule says providers -- including hospitals, clinics, universities, pharmacies and doctor's offices -- can be charged with discrimination if an employee is pressured to participate in care that is "contrary to their religious beliefs or moral convictions." Violators would lose their federal funds.

From Yahoo CANADA:  

Fed approves Chinese bank CCB to open office in US
Mon Dec 8, 5:15 PM
WASHINGTON (AFP) - The US Federal Reserve said Monday it had authorized China Construction Bank, a leading Chinese state bank, to operate in the United States.
The proposed New York City branch of CCB "would engage in wholesale deposit-taking, lending, trade finance, and other banking services," the Fed said in a statement.
CCB is the second-largest bank in China, with total assets of approximately 1.1 trillion dollars, it noted.
http://ca.news.yahoo.com/s/afp/081208/usa/us_china_ba
nk_regulate_banking_company_ccb?printer=1

Congress wanted to guarantee that the $700 billion financial bailout would limit the eye-popping pay of Wall Street executives, so lawmakers included a mechanism for reviewing executive compensation and penalizing firms that break the rules.

But at the last minute, the Bush administration insisted on a one-sentence change to the provision, congressional aides said. The change stipulated that the penalty would apply only to firms that received bailout funds by selling troubled assets to the government in an auction, which was the way the Treasury Department had said it planned to use the money.

Now, however, the small change looks more like a giant loophole, according to lawmakers and legal experts. In a reversal, the Bush administration has not used auctions for any of the $335 billion committed so far from the rescue package, nor does it plan to use them in the future. Lawmakers and legal experts say the change has effectively repealed the only enforcement mechanism in the law dealing with lavish pay for top executives.

"The flimsy executive-compensation restrictions in the original bill are now all but gone," said Sen. Charles E. Grassley (Iowa), ranking Republican on the Senete Finance Committee.

The Bush administration at first opposed any restrictions on executive pay, congressional aides said.

Congress wanted to guarantee that the $700 billion financial bailout would limit the eye-popping pay of Wall Street executives, so lawmakers included a mechanism for reviewing executive compensation and penalizing firms that break the rules.

But at the last minute, the Bush administration insisted on a one-sentence change to the provision, congressional aides said. The change stipulated that the penalty would apply only to firms that received bailout funds by selling troubled assets to the government in an auction, which was the way the Treasury Department had said it planned to use the money.

Now, however, the small change looks more like a giant loophole, according to lawmakers and legal experts. In a reversal, the Bush administration has not used auctions for any of the $335 billion committed so far from the rescue package, nor does it plan to use them in the future. Lawmakers and legal experts say the change has effectively repealed the only enforcement mechanism in the law dealing with lavish pay for top executives.

"The flimsy executive-compensation restrictions in the original bill are now all but gone," said Sen. Charles E. Grassley (Iowa), ranking Republican on the Senete Finance Committee.

The Bush administration at first opposed any restrictions on executive pay, congressional aides said.

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