Democrats Culture of Corruption Continues: $2.78 Million From Disgraced Law Firm

PittsburghAfterDark

CAGiversary!
Milberg Weiss gave top Democrats funding

By Jeremy Pelofsky Mon May 22, 9:46 PM ET

WASHINGTON (Reuters) - Milberg Weiss Bershad & Schulman LLP, the securities class action law firm indicted last week on fraud charges stemming from corporate lawsuits it filed, made large political contributions almost exclusively to Democrats since 1999, records show.

The firm and individuals there made $2.78 million in campaign donations to Democrats since 1999 compared to about $22,000 to Republicans, according to the Center for Responsive Politics, which tracks money in politics.

Among the recipients were New York Sen. Hillary Rodham Clinton, who is a possible 2008 presidential candidate, senior New York Senator Charles Schumer and Sen. John Kerry, the Democratic presidential candidate in 2004.

On top of the $2.78 million, lawyers in the firm made contributions to New York Attorney General Eliot Spitzer, who is the Democratic candidate for governor. Spitzer's office said on Monday that he plans to return $124,455 in contributions.

Larry Sabato, director of the University of Virginia's Center for Politics, said Republicans would likely use the donations as ammunition in the November congressional elections and to blunt criticism about recent corruption scandals involving Republicans.

They will target "every individual Democrat in a competitive race in 2006 to begin with," Sabato said.

They also will mount "a P.R. offensive to make certain that this helps to balance the Democrats' charges of a culture of corruption that affects only Republicans," he said.

The Center for Responsive Politics, a nonpartisan group, compiled information about the law firm's campaign contributions at the request of Reuters.

The Democratic National Committee was one of the primary beneficiaries, receiving almost half the money, $1.28 million. Most of that was from the firm itself and included $500,000 for the DNC's new headquarters.

"We are looking into the matter," said DNC spokeswoman Stacie Paxton.

Milberg Weiss and two partners, David Bershad and Steven Schulman, were indicted last week on 20 counts of perjury, bribery and obstruction of justice. They were accused of illegally paying clients to act as plaintiffs in lawsuits against corporations.

The firm and the two lawyers have called the charges unjust.

President George W. Bush campaigned to limit the kinds of lawsuits filed by Milberg Weiss, and the Republican-controlled Congress last year passed a law that seeks to curb class-action lawsuits by shifting them to federal courts from state courts and linking attorneys' fees with the payouts for clients.

Class-action cases allow plaintiffs to combine claims into one suit against a common defendant. Democrats have defended the suits as a way for consumers to hold multi-billion corporations accountable.

Hillary Rodham Clinton and her political action committee received almost $24,000 in contributions from individuals at Milberg Weiss since 1999, according to the data.

"We will not be taking any action at this stage," Clinton's spokeswoman Ann Lewis said in an e-mail.

Schumer received $57,750 from individuals at the firm. His spokesman did not respond to requests for comment.

The House and Senate Democratic campaign committees received $440,365 and $350,650 respectively from the firm and individuals there since 1999, the data showed.

Milberg Weiss Bershad & Schulman LLP once reached number six in 2002 on the Center for Responsive Politics top 20 list of law firms and lobbyists that were contributors to lawmakers and political parties since 1999.

President Bush received $2,000 during the 2004 campaign in individual donations within the firm but his Democratic rival, Sen. Kerry, received $54,900 in individual contributions, the Center found.

Republicans and Democrats have returned more than $200,000 in contributions from clients of lobbyist Jack Abramoff, who pleaded guilty in January in a wide-ranging investigation into possible attempts to bribe lawmakers.

Linky Linky!

For the record, that's more than Jack Abramoff contributed to Republican members of Congress.

So much for that "Culture of Corruption" huh?

DNC National Headquarters: The House That Corruption Built

I wonder if that will be on the placard in their lobby? Think they'll return the $500,000?

I'm betting...... no.

I'm wondering Democratic head of the House Ethics Committee forced to step down because of investigation, Lousiana Congresscritter with $90k in his freezer and on video accepting bribes, Bob Toricelli tied to the oil for food scandal and now $2.78 million in ill gotten gains going to Democratic candidates and $500,000 in contributions to building the DNC's new headquarters if Nancy "Plastic Surgery Disaster" Pelosi will continue appearing before cameras decrying the "culture of corruption".

Hey Nance, people in glass houses um, yeah, you know the rest.
 
So this is different than the Republicans culture of corruption? Hmm lets ask Tom Delay or William Jefferson (just to name those in the media just in the past two months or so) what they think.
 
[quote name='PittsburghAfterDark']I'm wondering Democratic head of the House Ethics Committee forced to step down because of investigation, Lousiana Congresscritter with $90k in his freezer and on video accepting bribes, Bob Toricelli tied to the oil for food scandal and now $2.78 million in ill gotten gains going to Democratic candidates and $500,000 in contributions to building the DNC's new headquarters if Nancy "Plastic Surgery Disaster" Pelosi will continue appearing before cameras decrying the "culture of corruption".

Hey Nance, people in glass houses um, yeah, you know the rest.[/QUOTE]

No doubt she'll be out and about in her weekly press conference tomorrow spewing the same rhetoric (including a healthy portion of outright lies) as always. Also no doubt that many on this board will continue bleating "Democrats good, Republicans bad!" while not realizing both parties are the problem and are rife with corruption.
 
[quote name='elprincipe'] Also no doubt that many on this board will continue bleating "Democrats good, Republicans bad!" while not realizing both parties are the problem and are rife with corruption.[/quote]

Yeah those gay and terrorist loving nancy boy Jesus haters should just sit on their laurels and accept a thread that's titled "Democrats culture of corruption continues". How dare they try to stand up for themselves! :roll:

All sarcasm aside, you are right in one aspect .. both parties are the problem and rife with corruption. It's disgusting and disillusioning how quickly politicians lose their way and seem to either be puppets of corporations or just try to see how much illegal activity they can get away with.
 
Wait a minute, so they just got donations from a single firm over a course of some time, and then the firm tunred out to be doing illegal things related to its business practices? Has anyone shown that the firm used its money to influence members of conference? Did the Democrats go on golf trips or change legislation due to these contributers?

I mean, if we wanna go through every single campaign donation made to each party, I'm sure we would find people who were charged/convicted of crimes, but these crimes weren't related to their donations.
 
[quote name='evanft']Wait a minute, so they just got donations from a single firm over a course of some time, and then the firm tunred out to be doing illegal things related to its business practices? Has anyone shown that the firm used its money to influence members of conference? Did the Democrats go on golf trips or change legislation due to these contributers?

I mean, if we wanna go through every single campaign donation made to each party, I'm sure we would find people who were charged/convicted of crimes, but these crimes weren't related to its donations.[/QUOTE]

It is kind of a pathetic counter-argument to the widespread corruption and vote-peddling of the Republicans, isn't it? But it's all they've got, so PAD's gonna run with it...
 
[quote name='PittsburghAfterDark']We're just going to apply the same logic Democrats and liberals used with Enron contributions.

It's only fair isn't it?[/QUOTE]

Again, apples and oranges.

Enron = rolling blackouts, economic rape of consumers, thousands of employees boned out of their retirements, and little to no oversight of any of this by any of the politicians Enron contributed to (Bush's initial refusal to cap energy prices in California, as a ferinstance).

Milberg Weiss Bershad & Schulman LLP = ??? Where are politicians refusing to provide oversight? Where is the widespread public detriment from the firm's actions? Where is anything that links political contributions to a lack of oversight?

As I said, it's a real loser of an issue....but try your best! Or maybe you could just admit that the Republican Party's become a cess pool and do something to fix it rather than try to divert attention from it?
 
Ahhhhhh no.

Enron was never responsible for rolling blackouts. When California had their energy crunch it was because of failed de-regulation put in place by Gray Davis that basically had California energy companies buying electricity at mini-bar prices. Enron was never in the power distribution business. They never owned the lines, they were never responsible for end consumer consumption.

If you cap energy prices you cause shortages, lines at the pump, rolling blackouts, interruption of service etc. No one is going to sell energy sources at or below market cost. Price controls do not and cannot work.

Of course you have no grasp of free markets. You think everything in the world operates at a fixed price and supply and demand have no real world effects.

You know why this is a scandal dennis? You want to know why it matters?

Because it's Democrats are across the board beholden to trial lawyers and their money. They allow obscene lawsuits to continue unabted including costly and in many times wrongfully filed class action lawsuits. They refuse any semblance of tort reform and then one of their major contributors is shown to create completely bogus lawsuits. This law firm, and undoubtedly many others, are then free to wheel and deal in questionable suits because they know that they own one party lock, stock and barrel and they're forever protected from industry reform.

Maybe you can admit that BOTH political parties are completely beholden to big money contributors instead of thinking your precious Democratic Socialist Workers Party is above this type of shit.

However, like I said, you think the DNC is going to give back 500 large that helped build the headquarters corruption built? Not bloody likely.

If you think your political fanboyism makes your scummy leadership holy and washes this money clean as if it came from the 40th Street Baptist Church in Shreveport, LA you're dumber than even I think you are. That, dennis, would be pretty fucking dumb indeed.
 
Tell you what guys.

Find me the consumer that wrote their monthly electric utility bill to Enron.

Then get back to me about accuracy.

Electric providers/generators are not the same as electric transmitters. You either generate it or you distribute it. The two rarely go together anymore.

It used to be that the same electric company owned the plants and owned the transmission wires. That's not the case anymore and that's why California got screwed.

When you know something, anything, about how utilities are run you can step up and argue like an 8 year old.
 
[quote name='PittsburghAfterDark']Tell you what guys.

Find me the consumer that wrote their monthly electric utility bill to Enron.

Then get back to me about accuracy.

Electric providers/generators are not the same as electric transmitters. You either generate it or you distribute it. The two rarely go together anymore.

It used to be that the same electric company owned the plants and owned the transmission wires. That's not the case anymore and that's why California got screwed.

When you know something, anything, about how utilities are run you can step up and argue like an 8 year old.[/QUOTE]

PAD, your self-enforced ignorance is truly appalling. Read any of the stories below, remove the scales from your eyes and the cobwebs from your brain, and get back to me.

http://www.usatoday.com/money/energy/enron/2002-05-07-enron-calif-memo.htm

WASHINGTON (AP) — A confidential Enron document released by federal energy regulators shows how Enron traders drove up power prices during California's energy crisis. The memorandum, written by Enron lawyers in December 2000, outlined practices similar to those described by California officials, who allege the energy trading company created phantom congestion on electricity transmission lines and engaged in sham sales among its affiliates to increase electricity prices.

Describing one such strategy used by Enron energy traders and called "Death Star," the lawyers wrote: "The net effect of these transactions is that Enron gets paid for moving energy to relieve congestion without actually moving any energy or relieving any congestion."

Another practice, called "ricochet," allowed Enron to send power out of California and then resell it back into the state to avoid price caps that applied to transactions solely within California.

"To us, this is really the smoking-gun memo," said Sean Gallagher, a staff attorney with the California Public Utilities Commission. "It's Enron's own attorneys admitting that Enron is manipulating the California market."

http://www.cbsnews.com/stories/2004/06/01/eveningnews/main620626.shtml

(CBS) When a forest fire shut down a major transmission line into California, cutting power supplies and raising prices, Enron energy traders celebrated, CBS News Correspondent Vince Gonzales reports.

"Burn, baby, burn. That's a beautiful thing," a trader sang about the massive fire.

Four years after California's disastrous experiment with energy deregulation, Enron energy traders can be heard – on audiotapes obtained by CBS News – gloating and praising each other as they helped bring on, and cash-in on, the Western power crisis.

"He just f---s California," says one Enron employee. "He steals money from California to the tune of about a million."

"Will you rephrase that?" asks a second employee.

"OK, he, um, he arbitrages the California market to the tune of a million bucks or two a day," replies the first.

The tapes, from Enron's West Coast trading desk, also confirm what CBS reported years ago: that in secret deals with power producers, traders deliberately drove up prices by ordering power plants shut down.

"If you took down the steamer, how long would it take to get it back up?" an Enron worker is heard saying.

"Oh, it's not something you want to just be turning on and off every hour. Let's put it that way," another says.

"Well, why don't you just go ahead and shut her down."

http://www.cbsnews.com/stories/2004/06/08/eveningnews/main621856.shtml

(CBS) The Department of Justice reportedly has thousands of hours of Enron employees recorded during the West Coast power crisis. Now, some in Congress want all the tapes released.

"I want to make sure that no federal agency suppresses this information, makes the case harder for us to get relief," says U.S. Sen. Maria Cantwell, D-Wash.

After CBS broadcast the voices of Enron energy traders gloating over the crisis they helped create, more tapes were released.

In one tape, an employee says, "You gotta think the economy is going to f------g get crushed, man. This is like a recession waiting to f-----g happen."

The tapes show Enron tried to bring California to its knees.

Elsewhere on the tapes, another employee says, "This is where California breaks."

"Yeah, it sure does man," says another.

And they proposed to do that by exporting energy out of the state so the company could drive up prices even more.

"What we need to do is to help in the cause of, ah, downfall of California," an employee is heard saying on the tapes. "You guys need to pull your megawatts out of California on a daily basis."

"They're on the ropes today," says another employee. "I exported like a f------g 400 megs."

"Wow,'' says another employee, "f--k 'em, right!"

Traders can be heard manipulating the market, using now-infamous schemes with names like death star, ricochet and fat boy.

One employee is heard asking, "You want to do some fat boys or, or whatever, man, you know, take advantage of it."

In fat boy, Enron traders used fake power sales to hide megawatts, shrinking the supply of energy and driving up prices. They also used the oldest trick in the book: lies.

"It's called lies. It's all how well you can weave these lies together, Shari, alright, so," an employee is heard saying.

The other employee says, "I feel like I'm being corrupted now."

The first employee adds, "No, this is marketing,"

"OK.''
 
[quote name='PittsburghAfterDark']Then get back to me about accuracy.[/QUOTE]


Do you even know what accuracy means?

Since you have been a Republican for decades now im going to go ahead and say no.

It is fucking amazing how fucking shameful and dishonest PAD et al are.

Deregulation is what has been touted as a cure all especially by Reaganites.

Now they want to distance themselves from it?
 
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