Select Page

Tammy Baldwin to Attend Hamptons Fundraiser Hosted by Corporate Executive

Sen. Tammy Baldwin (D., Wisc.) is slated to appear at a Hamptons fundraiser this weekend hosted by a corporate executive despite the first-term senator decrying top corporate personnel for actions such as stock buybacks. Baldwin, who is facing Republican Leah Vukmir this November, on Saturday night will attend a “Cocktails and Conversations” event in East Hampton with tickets going for up to $2,700. Baldwin is slated to appear at a brunch on Sunday at the home of Lisa Rosenblum, a government affairs executive for communications and media company Altice USA, who assists with the company’s legislative, regulatory, and public policy initiatives. Rosenblum, a major Democratic donor, contributed $60,000 for Hillary Clinton’s victory fund during the 2016 elections. Sen. Kirsten Gillibrand (D., N.Y.) will attend the Sunday event alongside Baldwin despite spending much of July lambasting the “toxic influence” of money in politics, the Daily Caller reported. Last year, Rosenblum held a fundraiser at her home for another likely Democratic presidential candidate, Sen. Kamala Harris (Calif.). Baldwin, one of the more liberal politicians in the Senate, will attend the fundraiser with Rosenblum after chastising corporations for actions such as stock buybacks, an alternative form of returning money to shareholders, a practice Baldwin has said is “wrong” and leads to “wealth inequality.” Baldwin co-sponsored an amendment in March with Sen. Chuck Schumer to “rein in” the buybacks. “It’s clear to me...

Read More

“Code Yellow”: Google Employees Revolt Over Clandestine China Project

Google employees have issued a “code yellow” alert to company executives over brewing opposition to a planned censored search engine in China, citing “urgent moral and ethical issues” in a letter circulated internally, reports The Intercept.  Staff inside the internet giant’s offices have agreed that the censorship project raises “urgent moral and ethical issues” and have circulated a letter saying so, and calling on bosses to disclose more about the company’s work in China, which they say is shrouded in too much secrecy, according to three sources with knowledge of the matter. –The Intercept The last time Google employees revolted, the company abandoned its controversial AI-drone initiative known as “Project Maven” after around a dozen employees quit and close to 4,000 signed a petition. Many of the same people who led the last effort are now involved in the China protest.  The China search engine project, revealed earlier this month by The Intercept from leaked documents, would “blacklist sensitive queries” so that “no results will be shown” when people enter certain words or phrases. Code-named “Dragonfly,” the censorship plan was not widely known within Google – relegated to just a few hundred of the Mountain View, CA company’s 88,000 employees. After The Intercept‘s August 1 article, however, angry employees were triggered into an uproar, leading to the “code yellow” situation.  Now, a letter has been circulated among staff calling for Google’s leadership to recognize...

Read More

Inside the Ring: China’s Ukrainian Jet Engines

China has deployed one aircraft carrier and has plans for at least three more of the strategic power projection platforms as part of Beijing’s large-scale military buildup. As part of its carrier operations, state media announced on Tuesday the roll out of a new jet trainer, the JL-10, that Chinese officials say will be used by People’s Liberation Army navy pilots to train in the challenging task of aircraft carrier landings. The official China Daily newspaper conveniently omitted in its report on the first 12 JL-10s that the trainer is powered by Ukrainian jet engines. The supersonic trainer is also known as the L-15. Read the entire article at the Washington Times. The post Inside the Ring: China’s Ukrainian Jet Engines appeared first on Washington Free...

Read More

“Unless Erdogan Changes Course,” El-Erian Warns Of “Much Wider Damage… Not Just In Turkey”

Authored by Mohamed El-Erian via Project Syndicate, Rather than sticking with the approach taken by numerous other countries – including Argentina earlier this year – by raising interest rates and seeking some form of IMF support, Turkey has shunned both in a very public manner. Unless it changes course, the government risks much wider damage – and not just in Turkey. Whether by accident or design, Turkey is trying to rewrite the chapter on crisis management in the emerging-market playbook. Rather than opting for interest-rate hikes and an external funding anchor to support domestic policy adjustments, the government has adopted a mix of less direct and more partial measures – and this at a time when Turkey is in the midst of an escalating tariff tit-for-tat with the United States, as well as operating in a more fluid global economy. How all this plays out is important not only for Turkey, but also for other emerging economies that already have had to cope with waves of financial contagion. The initial phases of Turkey’s crisis were a replay of past emerging-market currency crises. A mix of domestic and external events – an over-stretched credit-led growth strategy; concerns about the central bank’s policy autonomy and effectiveness; and a less hospitable global liquidity environment, owing in part to rising US interest rates – destabilized the foreign-exchange market. A political spat with the US accelerated the...

Read More

Just 4 Trading Days Until The Longest Bull Market Of All Time: What Happens Then

We’re almost there: in just 4 trading days, the S&P 500 “bull market” which has purchased by central banks with trillions in liquidity and by companies with even more trillions in buybacks, will become longest of all-time. And yet away from the S&P, BofA’s Michael Hartnett notes that “there have been so many grizzly bond, commodity & equity market returns this year”: for example, global bonds are annualizing their worst price return (-3.5% local currency) since 1999; 11 of 21 commodity markets have experienced “bear” markets; 1254 ACWI constituents out of a universe of 2273 are in bear markets (i.e. down >20%). Just as ironically, less than a month after the record bull run anniversary comes September 15th, which marks the 10-year anniversary of Lehman bankruptcy & Global Financial Crisis; what happened next is precisely why the bull market is about to be longest in history: central banks immediately adopted extreme & unprecedented monetary policies (705 rate cuts, $12.4tn QE, lowest global rates in 5000 years) successfully preventing debt default & deflation, reflating Wall St…catalyzing one of the greatest credit & equity bull markets in history. Meanwhile, just as fascinating are all the assets that 10 years later actually remain below their Sept 14th 2008 levels…oil, industrial metals, equity markets in Italy, Spain, Russia, Brazil, Turkey, global equity sectors such as energy & utilities, and most glaring of all,...

Read More

CLF Ad Hits Dem Candidate for Voting to Raise Taxes While Failing to Pay Court Fines

A new ad from the Congressional Leadership Fund hits Democratic congressional candidate Joe Radinovich for voting to raise taxes despite failing repeatedly to pay court fines. The ad, titled “Typical Politician,” notes that Radinovich, who is running for Congress in Minnesota’s eighth district, voted for a $2 billion tax hike in 2013, while serving in the Minnesota House of Representatives. A narrator then describes how the candidate was cited dozens of times for not paying court fines. “Joe Radinovich votes to raise our taxes but refuses to pay his own bills. Radinovich voted for a $2 billion tax hike, hurting working families,” the narrator says. “But Radinovich was cited 30 times for not paying court fines, and after refusing to pay his bills, Radinovich was turned over to a collection agency eight times.” “Higher taxes for us. Unpaid bills for him. Joe Radinovich: typical politician,” the ad concludes. The video cites on-screen his record as a state legislator and court records from which CLF obtained the information. “Liberal politician Joe Radinovich voted for a $2 billion tax hike on Minnesota families, yet he was cited 30 times for not paying court fines, and was turned over to a collection agency eight times after refusing to pay his own bills,” said Michael Byerly, a Congressional Leadership Fund spokesman. “Joe Radinovich is a hypocrite who cannot be trusted in Congress.” Radinovich on Tuesday won...

Read More

U.S. Says Redirects Syria Funds as Allies Pony Up $300 million

WASHINGTON (Reuters) – The U.S. State Department said on Friday it will redirect $230 million in frozen funding away from Syria and had raised $300 million from coalition partners for recovery efforts in areas retaken from Islamic State militants in northeast Syria. President Donald Trump had frozen the funds in March while his administration reassessed Washington’s role in the Syrian conflict. The department’s spokeswoman Heather Nauert said Saudi Arabia had contributed $100 million and the United Arab Emirates had pledged $50 million toward the new funding. “This decision does not represent any lessening of U.S. commitment to our strategic goals in Syria,” Nauert said in a statement. (Reporting by Lesley Wroughton; Editing by Bernadette Baum) The post U.S. Says Redirects Syria Funds as Allies Pony Up $300 million appeared first on Washington Free...

Read More

Himes Dodges on Who He’ll Support for House Democratic Leadership, Praises Pelosi

Rep. Jim Himes (D., Conn.) refused to answer Friday whether he will support Rep. Nancy Pelosi (D., Calif.) for House Democratic leader in the fall, before moving on to praise the current minority leader. CNN host Poppy Harlow asked Himes about the future of the House Democratic Caucus’ leadership and if he would support Pelosi for House speaker should the Democrats gain control of the House after the upcoming elections. Himes first attempted to dodge the issue by saying it wasn’t his decision alone to make. “I have not made up a decision, because I don’t know who’s running, so you’re not getting a yes or no out of me today,” Himes said. After Harlow mentioned Pelosi’s ability to effectively fundraise for Democrats, Himes did go on to strongly praise the minority leader. “Maybe she’s worth more to the party, do you think, then [Pelosi’s detractors] might see?” Harlow asked. “Poppy, far more than her ability to raise money is her operational capability, especially now,” Himes said. “I’ve watched a bunch of speakers in the House in my relatively short congressional career. I have seen three of them. John Boehner was incapable of controlling his party; he got tossed out. Paul Ryan, incapable of controlling his party.” “Nancy Pelosi in the years ’09, 2010 and 2011, did the impossible. She took a rollicking caucus that included all sorts of people from...

Read More

Trump: Manafort Is a ‘Very Good Person,’ Ongoing Trial is ‘Very Sad’

President Donald Trump called former campaign chairman Paul Manafort a “very good person” on Friday and said his ongoing fraud and tax evasion trial in Virginia was “very sad.” Addressing reporters outside the White House, Trump also said Manafort, who is facing a de facto life sentence if convicted on all charges, only worked for him for a “very short period of time.” “I think the whole Manafort trial is very sad,” he said. “When you look at what’s going on there, I think it’s a very sad day for our country. He worked for me for a very short period of time, but you know what? He happens to be a very good person, and I think it’s very sad what they’ve done to Paul Manafort.” Trump previously compared the charges against Manafort to the tax evasion charges that brought down notorious mobster Al Capone. He joined Trump’s campaign in March of 2016 and served as campaign chairman from June until August of that year. He’s credited with helping Trump secure the Republican nomination. Manafort faces 18 counts of tax evasion, bank fraud and hiding foreign bank accounts. The jury is in the second day of deliberations. Regardless of his Virginia trial’s outcome, he still has to go to federal court on foreign lobbying and money laundering charges, where Special Counsel Robert Mueller has three times as much...

Read More

Alexandria Ocasio-Cortez Bans Media From Campaign Town Halls

Democratic congressional candidate Alexandria Ocasio-Cortez banned the media from attending a series of campaign town halls last week. “Just wrapped up an amazing community conversation & listening tour stop in Corona, Queens!” the New York Democrat announced on Twitter Sunday. “Guess what: we talked about race, immigration, healthcare, disability rights & housing… and everybody was fine!” “Ocasio2018 Bronx & Queens stops are designed to foster community and restore civic life,” she continued. “They are intended for lively, compassionate discourse with a diversity of viewpoints.” But what exactly was said at the town hall will remain a mystery to those outside the room. The Ocasio-Cortez campaign banned the media from attending both events, even though they were open to the public, The Queens Chronicle reported Thursday. Ocasio-Cortez spokesman Corbin Trent told the Chronicle that the event was closed to the press to avoid “unwanted attention,” complaining she was “mobbed” by reporters at a Bronx community meeting earlier that week. “We wanted to help create a space where community members felt comfortable and open to express themselves without the distraction of cameras and press. These were the first set of events where the press has been excluded,” Trent said. He promised that the media ban was “an outlier” and not the new norm. The press blackout came after several of Ocasio-Cortez’s public comments were scrutinized by the media and fact-checkers alike. A Washington Post...

Read More