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Showing posts with label MONEY LAUNDERING. Show all posts
Showing posts with label MONEY LAUNDERING. Show all posts

Wednesday, January 26, 2022

POLITICO NIGHTLY: Why Breyer isn’t like BBB



 
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BY RENUKA RAYASAM

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Associate Justice Stephen Breyer sits during a group photo of the Justices at the Supreme Court.

Associate Justice Stephen Breyer sits during a group photo of the Justices at the Supreme Court. | Erin Schaff-Pool/Getty Images

BREYER’S NEW FLAVOR — Supreme Court Justice Stephen Breyer, who upended Washington today when the news broke that he will retire at the end of this term, was confirmed to the high court in 1994 with a 87-9 Senate vote — the last SCOTUS nominee with fewer than 10 dissenting votes.

Joe Biden presided over the confirmation back then as the chair of the Senate Judiciary Committee. Now he will make the pick as president, and he is expected to fulfill a campaign promise to nominate the first Black woman to the Supreme Court. This time, Breyer’s replacement could become the first justice to be confirmed by a tie vote in the Senate. Nightly chatted with Congress editor Elana Schor over Slack today about what to expect from the confirmation process. This conversation has been edited.

How quickly could the Senate get a nominee through? Do you think they’ll do it before Breyer actually retires?

Democrats would love to move as expeditiously as possible, of course. Justice Amy Coney Barrett got her confirmation vote about a month and a half after Justice Ruth Bader Ginsberg’s death, which qualifies as light speed in the tradition-bound Senate. Theoretically speaking, it’s possible to get a nominee through before the high court’s term ends in late June or early July. But the more likely reality is a pre-Labor Day confirmation, given the fact that the White House’s $1.7 trillion social spending bill is also in line for a reboot and a possible Senate vote in the next few months.

Do you expect a tie Senate vote, or might a few Republicans vote to confirm a Biden justice?

I’ve long since learned to never predict Senate vote counts. That said, Judge Ketanji Brown Jackson — a leading contender for this nomination — was confirmed for an appellate court judgeship last year with 53 votes, every Democrat plus three Republicans (Lindsey Graham, Lisa Murkowski and Susan Collins). It’s entirely feasible that Jackson, or whomever else the president taps, nabs between one and five GOP votes. After all, five Republican senators are retiring this year, so they have little to fear in terms of conservative blowback at the ballot box.

If there is a tie vote, though, we should expect the vice president to be in the chair to break that tie. Nothing in the Constitution excludes SCOTUS from her power to break a Senate tie. And as we have also reported, the veep is almost certainly not going to be the nominee.

What strategies do Republicans have to block this appointment,  if any?

It’s tough to say much specific about GOP strategy here before we have a nominee. We should expect Republican aides and operatives to pore over the pick’s past record, particularly her rulings. An interesting factor with Judge Jackson would be her presence on an appellate court that tends to hear politically divisive cases.

But no matter who the nominee is, the power of presidents to stock the high court has always been a centerpiece of GOP messaging. Expect that to come up in 2024 for sure, and possibly 2022.

I’ve seen tweets from worried liberals that Democratic senators are going “screw this up.” Why is this a fear, and could that actually happen?

LOL, well, it wouldn’t be the Democratic Party without liberals worried about the Senate.

Some of that is just reflexive progressive distrust of Joe Manchin and Kyrsten Sinema. Is it theoretically possible that a Biden nominee could make a gaffe so apparent that Manchin and Sinema would begin to face pressure to not back her, imperiling the process? Sure. Is it likely? No.

Press secretary Jen Psaki reiterated today that Biden is going to nominate a Black woman to the court. Could that repair some of the damage done to the party with Black voters and lawmakers after the failure of voting rights reform?

Three of our best reporters ran down the complete short list of Black Caucus favorites earlier today. There won’t be one consensus CBC pick, which could make things a bit easier for the White House. As far as repairing the damage, the Black Caucus doesn’t pin much blame on Biden. They’re instead miffed at the Senate centrists who wouldn’t weaken the filibuster to get the bill done.

But could this distract dejected progressives and Black Caucus members from the hangover of that voting reform failure? Absolutely. As long as this confirmation goes smoothly and as expected.

Welcome to POLITICO Nightly. Reach out with news, tips and ideas at nightly@politico.com . Or contact tonight’s author at rrayasam@politico.com, or on Twitter at @RenuRayasam.

 

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WHAT'D I MISS?

— Powell faces volatile markets as Fed signals March rate hike: The Federal Reserve signaled it will likely raise interest rates in March, expected to be the first in a series of rate hikes this year amid surging inflation. “With inflation well above 2 percent and a strong labor market, the [Fed’s rate-setting] Committee expects it will soon be appropriate to raise the target range for the federal funds rate,” the committee said in a statement.

— Biden to talk gun violence with Adams in visit to NYC: Biden will come to New York City and meet with Mayor Eric Adams next week to discuss combating gun violence, the White House announced today. Biden and Adams plan to “discuss the administration’s comprehensive strategy to combat gun crime, which includes historic levels of funding for cities and states to put more cops on the beat and invest in community violence prevention and intervention programs, as well as stepped up federal law enforcement efforts against illegal gun traffickers,” according to a statement from the White House.

— Pressure mounts in Congress for IRS to give taxpayers relief: More than 200 lawmakers are pushing the IRS to give taxpayers a break on penalties they’re racking up because of mail delays at the agency, just days after the start of a tax filing season that officials warned could be marred by difficulties. The Senate and House members, from both parties, want the agency to excuse penalties in some cases, delay collections and put fewer limits on taxpayers’ ability to claim reasonable cause for relief, they said in a letter to IRS Commissioner Chuck Rettig. The push is being led by Sens. Bob Menendez (D-N.J.) and Bill Cassidy (R-La.) and Rep. Linda Sánchez (D-Calif.).

— Florida collectibles dealer connected to Gaetz probe to plead guilty: A Florida collectibles dealer connected to the ongoing federal investigation into Rep. Matt Gaetz has agreed to plead guilty to conspiracy to commit fraud and drug charges and cooperate with authorities. Joe Ellicott, known as “Big Joe,” was named on a federal grand jury subpoena in late December 2020 as part of a federal probe into alleged crimes “involving commercial sex acts with adult and minor women, as well as obstruction of justice.” Gaetz and several other men were also listed on that subpoena, POLITICO has previously reported.

 

JOIN NEXT FRIDAY TO HEAR FROM GOVERNORS ACROSS AMERICA : As we head into the third year of the pandemic, state governors are taking varying approaches to public health measures including vaccine and mask mandates. "The Fifty: America's Governors" is a series of live conversations featuring various governors on the unique challenges they face as they take the lead and command the national spotlight in historic ways. Learn what is working and what is not from the governors on the front lines, REGISTER HERE.

 
 
AROUND THE WORLD

Civilian participants in a Kyiv Territorial Defense unit warm up while training on a Saturday in a forest in Kyiv, Ukraine.

Civilian participants in a Kyiv Territorial Defense unit warm up while training on a Saturday in a forest in Kyiv, Ukraine. | Sean Gallup/Getty Images

U.S. NATO SEND RESPONSE TO MOSCOW — The U.S. has delivered its reply to recent Russian demands for sweeping security guarantees, including a withdrawal of NATO forces from Eastern Europe and hard assurances that Ukraine will never join NATO, David M. Herszenhorn writes.

In parallel, NATO delivered its own written response to a separate set of demands that the Russians had made to the alliance.

Moscow issued its demands in the form of proposed security “treaties” following an outcry by the U.S. and other Western powers over a huge Russian military mobilization on the Ukrainian border involving upwards of 100,000 troops as well as tanks, artillery and other sophisticated weaponry.

While the contents of the Western responses were not released, senior leaders have been clear they will not negotiate on Russia’s core demands even if they are willing to discuss other concerns. Officials also made an effort tonight to display a united front amid ongoing disagreements among allies over exactly how — and when — to punish Russia in case of an invasion.

“Our responses were fully coordinated with Ukraine and our European allies and partners,” U.S. Secretary of Antony Blinken said in remarks. But, he noted, “we’re not releasing the document publicly.”

 

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NIGHTLY NUMBER

More than 4 in 10

The proportion of people who believe that both the BBB and the infrastructure bill will increase inflation, according to a POLITICO-Harvard survey that shows significant concern over whether big-ticket items could lead to more inflation.

 

STEP INSIDE THE WEST WING: What's really happening in West Wing offices? Find out who's up, who's down, and who really has the president’s ear in our West Wing Playbook newsletter, the insider's guide to the Biden White House and Cabinet. For buzzy nuggets and details that you won't find anywhere else, subscribe today.

 
 
PARTING WORDS

THE COMING CRYPTO FIGHT ON THE HILL Cryptocurrency proponents are blistering a House bill designed to bolster the United States’ economic competitiveness with China, saying it could subject financial institutions to unchecked monitoring and oversight from the Treasury Department, Sam Sutton writes.

The competitiveness bill released by House Democrats this week, H.R. 4521, includes language that would grant the Treasury secretary more authority to freeze or monitor financial accounts used for cross-border illegal activity.

The language authored by Rep. Jim Himes (D-Conn.) is intended to address the use of digital assets in ransomware attacks, money laundering and other frauds.

The Senate passed its version of the competitiveness bill, S. 1260, in a 68-32 vote last year. The House provision drawing ire from digital currency advocates was not in the Senate bill.

The cryptocurrency think tank Coin Center claimed the bill would eliminate legal safeguards protecting financial institutions and consumers from federal overreach — including caps on how long accounts can be monitored or frozen. The bill also grants the Treasury secretary more latitude to identify “transmittals of funds” — including digital assets — as a money laundering concern.

 

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Sunday, October 24, 2021

Heather Cox Richardson

 


Heather Cox Richardson
October 23, 2021
There are three stories in the news today that seem to me to add up to a larger picture.
First is the story of money laundering, which seems suddenly to be all over the news. Today we learned that federal prosecutors in Detroit have broken into a massive money-laundering operation between the United States and the United Arab Emirates called “The Shadow Exchange.” They confiscated $12 million and suggest this is the tip of the iceberg.
This story comes just weeks after the release of the Pandora Papers, which detailed the ways in which the world’s wealthy hide money. The United States is one of the money-laundering capitals of the world, and the consequences of our lax financial legislation are coming home to roost. Experts say that because of the lack of transparency required in our financial transactions, hundreds of billions of dollars are laundered in the U.S. every year.
Another story from earlier in the month by Casey Michel in Politico reveals what happened to a small town in Illinois when a Ukrainian oligarch bought a factory there apparently in order to launder money. The townspeople believed they were looking at a new, prosperous future with new investment in the town, only to watch the abandoned factory decay. And then, miraculously, another investor appeared, but that man, too, seems to have been using the purchase simply to launder money. Now, the factory is decrepit and must be dismantled at great cost to the town, along with the townspeople’s dreams.
The second story that caught my attention today is the continuing news dropping from Facebook whistleblower Frances Haugen. Today we learned that a Facebook researcher created a profile that appeared to be of a political conservative North Carolina mother and that within five days, Facebook’s algorithm was steering the profile toward QAnon, a conspiracy theory touting then-president Trump as a secret warrior against a widespread pedophilia ring in the highest levels of government.
Although the fake profile did not follow those recommended groups, the profile was then inundated with groups and pages full of hate speech and disinformation. Other stories recently have emphasized that Facebook officials knew of the radicalization of users before the January 6 insurrection but declined to address the issue.
People often make the mistake of thinking that Facebook profits from the advertising it sells to users, but in fact the system works the opposite way. A media company profits from packaging users to sell to advertisers. Facebook has sliced and diced its users so that it can sell us with pinpoint accuracy to political interests eager to divide us or drive our votes.
It appears we now have hard evidence that the company knew its algorithms were peddling disinformation to divide us, and it did not fix them.
Tonight’s third story is that former president Trump’s loyalists set up a “command center” in mid-December at Washington, D.C.’s famous Willard Hotel to try to overturn the election. Those meeting to come up with a scheme to overturn the will of the voters included John Eastman, who wrote the memo outlining how Vice President Mike Pence could refuse to count the electors for certain states and thus throw the election to Trump; Trump lawyer Rudy Giuliani; adviser Stephen K. Bannon; former New York City police commissioner Bernard Kerik, a convicted felon pardoned by Trump; One America News reporter Christina Bobb; and Trump adviser Boris Epshteyn.
It is significant that as this story has hit the news, Eastman, the author of the infamous memo, is running from it. He went to the respected conservative magazine National Review to argue, quite preposterously, that his memo was simply a thought exercise that he did not endorse.
The very choice of the Willard, rather than Trump's own hotel, suggests an attempt to create distance from the president, but Kerik, who rented the rooms, billed the Trump campaign for the $55,000 hotel bill. (Those participating are likely to discover that campaign activity is not part of official duties and so cannot be covered by executive privilege.)
To me, these three stories are as illustrative of this moment as the three crucial stories in the January 1903 edition of McClure’s Magazine were of the corruption that led to the Progressive Era. In that famous 1903 magazine, investigative journalists Ray Stannard Baker, Lincoln Steffens, and Ida Tarbell exposed the political and corporate corruption that were silencing the voices of individuals in the United States and driving them into poverty.
The first two of today’s stories suggest the rise of global capital in our financial system and its power over us through the dominant influence of social media, a new technology most of us don’t understand particularly well. That power has led to the third story: the attempt of a president who has lost an election to turn to a Big Lie, spread through social media, that his victory has been stolen from him, and that his supporters must take matters into their own hands.
KIeptocrats, autocrats, and criminals are making a strong bid to control our country.
Will they succeed?
Maybe. But in a similar moment after 1903, the American people reasserted the rule of law.
Notes:
Ellen F. Fitzpatrick, Muckraking: Three Landmark Articles (Bedford/St. Martin's: 1994).




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