February 2012
26 posts
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“Fifty-three separate programs run by four federal agencies provide economic...”
– From a GAO report showing that overlap in many areas of government is causing tens of billions of dollars in waste annually. Read more at The Washington Post.
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“There is a sense that large federal contractors, like BP, are too big to suspend...”
– POGO General Counsel Scott Amey on the fact that after the Deepwater Horizon oil spill, the Pentagon gave BP a $300 million raise. Read more at Reuters.
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WatchSemper Fi: Always Faithful is an important documentary about the thousands of Marines and their families who were poisoned at Camp Lejeune. It is premiering at 10 p.m. Friday on MSNBC. Watch it and then join POGO in taking action to help the victims.
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“Most of the length, complexity and questions are in there because of industry...”
– Dennis Kelleher of Better Markets, a financial regulatory reform group. Kelleher is talking about the Volcker Rule, which has become so bloated and vague that it is on the verge of death, which will be a big win for the big banks. How the Volcker Rule got this was is a pretty interesting story.
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New Cybersecurity Act Would Undermine FOIA and... →
With all the uproar over the Stop Online Piracy Act (SOPA) and the Protect IP Act (PIPA)—both of which prompted widespread online protests—it was easy to forget that the Senate had another cybersecurity bill in the works. But on Tuesday, a group of Senate committee leaders started rushing passage of the Cybersecurity Act of 2012(S.2105). Although this cybersecurity bill doesn’t include the...
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Are US taxpayers bailing out big banks again? →
One part of the recently-announced mortgage settlement has people worried about another taxpayer-funded bailout of the major banks. Get the details over at CBS news.
How do you feel about this?
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Justice Department Wins Rosemary Award for Worst... →
“Justice edged out a crowded field of contending agencies and career officials who seem in practical rebellion against President Obama’s open-government orders.”
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“Let’s review: The new official line for mass consumption seems to be that the...”
– Philip Ewing writing in DoD Buzz about the Air Force’s new “simple, no-frills, advanced new bomber.” Hopefully if the military starts focusing on new weapon systems that are affordable and dependable instead of complicated and problematic, the Pentagon will be able to save money...
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Breaking Down the President's Budget Request →
The experts at POGO are breaking down the nuclear and Department of Defense spending in the the president’s FY 2013 budget request, which was released this morning. We will be posting updates all day. Check back in on the post to stay informed about how billions of taxpayer dollars are being spent.
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Un-Do Influence: Air Force's Revolving Door Helped... →
We gave Booz Allen 4 facepalms for their revolving door incident and the suspension of their San Antonio office. See who else deserved a facepalm for undue influence in Washington last week.
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Chairman of the House Financial Services Committee... →
The investigation of Rep. Spencer Bachus is the first of its kind involving a member of Congress.
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“A U.S. senator from Alabama directed more than $100 million in federal earmarks...”
– From a Washington Post investigation of Congressional earmarks. For the full story go to - Congressional Earmarks Sometimes Used to Fund Projects Near Lawmakers’ Properties.
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Don't just be angry. Do Something. Help POGO guard... →
Rep. Michael Grimm (R-NY) is pulling a cruel joke on whistleblowers with his new Whistleblower Improvement Act (H.R. 2483). As often happens, the name of the bill is the complete opposite of what it would do. This bill would dismantle the new, and important, whistleblower protections set up under the Dodd-Frank act and would discourage and endanger potential whistleblowers who are key to...
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“I spent last year in Afghanistan, visiting and talking with U.S. troops and...”
– Lt. Col. Daniel L. Davis, an officer turned whistleblower who disputes the official narrative about Afghanistan. Read his full article at the Armed Forces Journal and the New York Times story about how he became a whistleblower.
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WatchColbert keeps the pressure up on Super PACs.
You have a favorite line?
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S.E.C. Is Avoiding Tough Sanctions for Large Banks →
“By granting those waivers, the S.E.C. allowed Wall Street firms to have powerful advantages, securities experts and former regulators say. The institutions remained protected under the Private Securities Litigation Reform Act of 1995, which makes it easier to avoid class-action shareholder lawsuits.”
There are a lot of problems at major financial institutions, but when government...
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Do You Like Online Privacy? You May Be a Terrorist →
From the article - “In fact, the flyer recommends that anyone “overly concerned about privacy” or attempting to “shield the screen from view of others” should be considered suspicious and potentially engaged in terrorist activities. Read more at Public Intelligence.
If you have an anonymous Tumblr handle are you also a terrorist?
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““A review of recent disciplinary sanctions by the Financial Industry...”
– - from Fines Fail to Stop Some Broker Bloopers.
These are the geniuses of finance.