Guy, Brock appeal fraud

Y'all Politics posts that Attorneys William Guy and Thomas Brock are appealing a federal jury's ruling that they committed fraud in litigation against Illinois Central Railroad. As you will recall, both are significant contributors to Mississippi Attorney General Jim Hood.

Dems blunder in attack on Nunnelee

First, the Democrats attacked Alan Nunnelee for raising taxes. We imagine they were upset, because raising taxes is their job, not Republicans. Second, it turns out one of their attacks was wrong. Way wrong. Backward. They attacked him for cutting taxes. Of course, that makes more sense as Democrats prefer higher taxes, so they ought to criticize a Republican for cutting taxes. But this time, they did that by accident: When a 'tax increase' is actually a tax cut

Democrats are going after Mississippi state Sen. Alan Nunnelee (R) for his record on taxes, but at least one punch didn’t land.

In a release this week, the Democratic Congressional Campaign Committee (DCCC) says Nunnelee, in 1996, “sponsored a bill to increase income tax rates and optional standard deductions according to changes in the U.S. inflation rate.”

What that bill cited actually did, though, was increase tax brackets according to inflation. That translates to a tax cut, rather than an increase. The bill at the time was being pushed by GOP Gov. Kirk Fordice, in order to reduce state income tax rates.

We fervently oppose tax increases and it is fair game to criticize those. But obviously, this was not one.

(Responding via Y'all Politics)

Democrats want to discuss Scruggs, Langston, DAGA money and Jim Hood

Louisiana Democrats are upset because Haley Barbour's PAC contributed $5000 to Louisiana Senator David Vitter's PAC. Later on, Chip Pickering's PAC contributed $5000 to Haley Pickering's PAC. The Democrats claim this was Pickering trying to secretly give to Vitter.

The problem with this is the FEC, which governs these issues, has a long standing "first in - first out" rule which means the contribution from Barbour actually represents money given to him maybe months or years ago. One day Barbour will certainly spend or contribute that Pickering money, but it wasn't that day, and it won't be tomorrow.

But here is where it gets good. The Mississippi Democrats decided to jump on and try to play politics on this issue.

Mississippi Democrats do not have clean hands when it comes to campaign finance issues, as Majority In Mississippi helpfully reminded us. They asked, "Do Democrats Really Want To Talk About Campaign Contributions?" describing the allegation that now convicted felons Dickie Scruggs and Joey Langston funneled hundreds of thousands of dollars through the Democratic Attorneys General Association to Mississippi Attorney General Jim Hood in 2007.

Now the Mississippi Democrats have responded, "Yes, we want the conversation on campaign finance" and said "two attorneys making donations to the Democratic Attorneys General Association, which then in turn donated money to Attorney Jim Hood’s re-election campaign in 2007...in no way violated any campaign finance laws."

So now, let's discuss.

Let's recall this post by Y'all Politics which points out that the hundreds of thousands of dollars involved in the allegation involving Dickie Scruggs, Joey Langston, and DAGA came within 90 days of Attorney General Jim Hood sending his letter listing Scruggs as a "confidential informant" and asking that to be taken into consideration in a criminal contempt investigation against Scruggs. To which Alan Lange says:

Let’s pretend that we are a “confidential informant” in an investigation. Does it make sense that we, in a middle of an investigation, would funnel A HUGE AMOUNT of money to the prosecutor in that case? This doesn’t pass the straight face test.

Let’s pretend we are now the “prosecutor” - Jim Hood. Would a prosecutor under normal circumstances accept $400K of money that you know has come from “confidential informants” funnelled through a shell 527 group?

MEMO to Mississippi Democrats, this issue goes much further than campaign finance laws. Let's discuss some more.

Dems vs Reality

Mississippi Democrats criticize Haley Barbour for going to Iowa and New Hampshire instead of working on the budget. First, he is not the Democrat controlled legislature which has failed to produce a budget. They are blaming Haley for not doing their own job. Second, where was this outrage when their budget conferee and CHAIRMAN of Medicaid, Dirk Dedeaux, skipped budget meetings to go to DISNEY WORLD?

The Mississippi Democrats also salute Brandon Presley for his recent appointment to this national board. Shocking, but Y'all Politics is reporting that Presley and the Public Service Commission recently retained that organization under contract. I guess the Democrats really ought to congratulate him, he is learning the Democratic methods early and well.

Joe Biden Agnew: 20 cents gets you a Paradigm

We blogged about Joe Biden Agnew's connection to the Stanford Financial Group as well as the Scruggs Scandal back in February (Hat Tip to Y'all Politics for the Fox News story).

The story has surfaced again in Politico.

A hedge fund with some ties to Vice President Joe Biden's family was shuttered by the Securities and Exchange Commission Monday due to allegations of fraud.

The finance blogger John Hempton was the first to note that Biden family company, Paradigm Global Advisors, which is led by Biden's brother James and his son Hunter shares an address with the closed fund, Ponta Negra. The Wall Street Journal reported that the Biden company -- a fund of hedge funds -- also shares a marketing company with Ponta Negra -- a marketing company that also marketed funds for alleged Ponzi schemer Alan Sanford.

Paradigm lawyer Marc LoPresti said the relationship between Ponte Negra and Paradigm was limited.

"They were subtenants," he said, adding that marketer Jeff Schneider "who did some marketing for paradigm over the last couple of years introduced us to Ponte Negra, and we had some availale office space."

"That's 100% the extent of the relationship," he said.

"There's no smoke or fire as relates to this unfortunate Ponte Negra situation. There's nothing there at all," he said.

Biden spokespeople didn't immediately respond to an email with questions about the matter.

The Bidens appear to have purchased Paradigm in 2006, and Hempton posts an eyebrow-raising affidavit in which James Biden accused the manager from whom he and his nephew bought the fund of fraud and mismanagement.

LoPresti decliend to comment on pending litigation.

Nonetheless, according to Paradigm's website, "PARADIGM's portfolios of hedge funds have not suffered a down year since the firm's inception in 1991."

There's a lot to untangle in this complicated story, and Felix Salmon, now of Reuters, is also on the case, but it seems unlikely to go away.

The online snowball on Biden's connection continues to grow.

Zero Hedge asks "Is Joe Biden Associated With A Fund of Funds Feeder Scam?"

Beats and Pieces calls the story "Joe Biden, a blogger and a Ponzi hedge fund".

And the beat continues.

Biden Son and Brother Near Epicenter of Two Ponzi Schemes

Biden in a ponzi?

Is Biden Associated with a Hedge Fund Scandal?

[The Bidens, Paradigm and Ponta] The politics of Paradigm

Again, Hat Tip to Y'all for peaking our interest again on this yesterday.

Buffington v Buffington's Mouth

Larry Buffington should file suit against his own mouth for damages. Y'all Politics has three great audio files of Judge Larry Buffington admitting issuing subpoenas that didn't comply with the law; using his position as judge to appoint his friends to office; and helping a friend get a hospital contract from elected officials in Covington County.

Biden's Stanford Financial Connection not his first to questionable finances

Y'all Politics has this interesting item regarding Stanford Financial Group and a related hedge fund owned by Hunter Biden (son of Joe) and Jim Biden (brother of Joe).

This gives us pause to make a gratuitous response once again regarding Biden's connection to the Mississippi Scruggs shenanigans. Y'all Politics has been good at keeping us posted on this subject over the years, now.

The Mess in Mississippi, Redux: The Joe Biden Connection

While Biden divested himself of Dickie and Zach Scruggs contributions, there may have been some Scruggs, Patterson, Balducci money he missed divesting.

Y'all also has an invitation to a Joe Biden Fundraiser in 2007 hosted by Dickie Scruggs, Tim Balducci & Steve Patterson.

And who can forget the wiretaps of Patterson and Balducci discussing their work with Jim Biden. Or the AP story highlighting the wit and Mississippi connection of Joe Biden.

Judge Larry Buffington Self Destructs

What is going on with Judge Larry Buffington? First he made a public order to the Simpson County Board of Supervisors to hire his friend Oliver Diaz to be a youth court public defender (when other public defenders were doing the job) so he could get his state retirement. Then he demanded to know who leaked this public information to the press! So he subpoenaed the two Republican supervisors (because Judge Buffington is so nonpartisan) to appear before him.

Now, the supervisors have moved to quash his order because - get this - he didn't do it properly and had no authority to do it. Somebody talk this guy down from the ledge, he is embarrassing himself. Read their motion here courtesy of Y'all Politics.

Oh yeah, did we mention that PERS rejected Diaz for retirement benefits anyway?

Gene Taylor Responds: Obama plan "is nuts"

Thanks to Y'allPolitics for this one.

Mississippi's maverick Democrat on the Coast, Congressman Gene Taylor, has called out President Obama.

"President Obama ran on change. This isn't change...this is just more of the same, in my opinion...In one vote, the nation's going to borrow another 800 billion. This is nuts" ("Lou Dobbs Tonight," CNN, 1/28).

Speaker Fails to Deliver for Presley and Hood

Y'all Politics has a great post on Northern District Public Service Commissioner Brandon Presley and Attorney General Jim Hood working together to return to the Public Service Commission structure back to the days when commissioners could freely engage in corruption without the bureaucratic nightmare that exists today. Afterall, with Jim Hood there to protect us, there is no need for an independent Public Utilities Staff or a trustworthy PSC. And Presley thinks politics is like bacon, everything (including utility audits) is better with a good dose of it. And by the looks of him, Presley really loves politics. (Be sure to check out the video at the post to see Presley tagging along behind Hood behind Utilities Chairman Tyrone Ellis.) The most fascinating aspect of the whole thing is that they convinced the Speaker to rush their bill from committee to the floor and it failed on a procedural vote.

UPDATE: The measure passed the House the following day.

Statesmanship

Senator Thad Cochran
(Responding Via Y'all Politics)

Labor Unions: Bringing Musrove and Obama Together

Mark Cochran, Political Coordinator for United Steelworkers of America, working North Mississippi and Tennessee for Barack Obama and Ronnie Musgrove.
Responding via Y'all Politics