Our Economy
Behind the Scenes of the Global Economic Crisis:
Billionaire Roland Arnall’s Ameriquest was the target of repeated investigations into alleged lending abuses. According to obituaries, Roland Arnall (above), suddendy died at 68 on March 18, 2008.
· New York Times Obituary: Roland Arnall
· Los Angeles Times Obituray: Roland Arnall
Culprits of the Collapse
Most Wanted Culprits: CNN Report
Richard Fuld, CEO, Lehman Brothers
Fuld contributed $3,500 to Lowey in past years.
REPORT:
Campaign Contributions Stoked the Fire Behind Wall Street Meltdown
• OpenSecrets.org
Nita Lowey accepted contributions from collapsed Bear Stearns
Lowey recently said “we’re in for difficult times,” but what did she do last year in Congress while the sub-prime mortgage fiasco was developing into a global economic crisis? As a member of the House Appropriations (i.e. "Spending") Committee, she sponsored a $Trillion federal budget with over $13 Billion in “earmarks” for her fellow congresspersons’ pet projects! That's one reason why Nita Lowey has received a rating of only 5% from Citizens Against Government Waste! Yet, according to a new federal online reporting system, USAspending.gov, the value of federal contracts received in fiscal year 2007 for our district ranks 359 out of 440.
Nita Lowey is estimated to be the seventh wealthiest representative in Congress. She has received the following two-year election cycle contribution totals from the Securities and Investments Industry, according to the Center for Responsive Politics’ OpenSecrets.org website:
Rank out of 435 Representatives:
ELECTION CYCLE |
RANK (of 435) |
$ AMOUNT |
2000 |
5 |
167,000.00 |
2002 |
20 |
87,000.00 |
2004 |
14 |
170,350.00 |
2006 |
26 |
115,550.00 |
2008 |
27 |
103,900.00 |
TOTAL |
$ 643,800.00 |
Special Edition: Jim Russell on the Economy
• Russell Demands Lowey Recuse Herself from House Bailout Votes