As reported by Big Government:

Rep. Spencer Bachus (R-AL), who was the subject of allegations of congressional insider trading, has indicated that he will not seek to extend his term as chair of the House Financial Services Committee after 2012.

Progressive media has fought hard against the story of insider trading, first broken by Big Peace Editor Peter Schweizer with his book Throw Them All Out. Leftist media attempted to discredit the sources and blow off the story, but after President Obama mentioned it in his State of the Union Address, the tactic was turned on its ear.

Earlier this week Joel Pollak discussed how the Huffington Post issued a mea culpa after working hard to encourage dismissal of the story:

Give Ryan Grim of the Huffington Post credit: it takes courage to change one’s mind, and to admit an earlier mistake.

Grim has written that he was wrong to dismiss a November 2011 report by 60 Minutes (based on Breitbart editor Peter Schweitzer’s book, Throw Them All Out) on insider trading in Congress:

At the time, I wrongly reported that 60 Minutes’ poor choice of targets for its report, and its clumsy attempt to connect specific trading to specific legislative action, set momentum for the bill back. Instead, in fact, the report propelled the legislation forward.

Grim had initially reported that the 60 Minutes report “falls short.”

What changed?

Much of the left and the left media–including the Huffington Post, Politico, and Media Matters for America–dismissed the issue of insider trading and tried to discredit both the allegations and their source. Now that Obama has taken up the legislation–with its sponsor, Senator Scott Brown (R-MA) obtaining Obama’s explicit commitment to make Senate Majority Leader Harry Reid move it through the Senate–the left is scrambling to catch up.

(more…)

Give Ryan Grim of the Huffington Post credit: it takes courage to change one’s mind, and to admit an earlier mistake.

Grim has written that he was wrong to dismiss a November 2011 report by 60 Minutes (based on Breitbart editor Peter Schweitzer’s book, Throw Them All Out) on insider trading in Congress:

At the time, I wrongly reported that 60 Minutes’ poor choice of targets for its report, and its clumsy attempt to connect specific trading to specific legislative action, set momentum for the bill back. Instead, in fact, the report propelled the legislation forward.

Grim had initially reported that the 60 Minutes report “falls short.”

What has changed his view is not the merits of the argument against insider trading–which Grim acknowledged at the time as “a serious problem in Washington”–but the fate of the legislation, which President Barack Obama suddenly supported during his State of the Union address last night:

Much of the left and the left media–including the Huffington Post, Politico, and Media Matters for America–dismissed the issue of insider trading and tried to discredit both the allegations and their source. Now that Obama has taken up the legislation–with its sponsor, Senator Scott Brown (R-MA) obtaining Obama’s explicit commitment to make Senate Majority Leader Harry Reid move it through the Senate–the left is scrambling to catch up.

Grim’s (honest) change of heart is likely the beginning of a broader and less principled shift, in which the left will attempt, in Orwellian fashion, to rewrite the history of its opposition to the Schweizer book, the 60 Minutes report, and congressional legislation on insider trading.

Big Brother says insider trading in Congress is wrong; therefore it has always been wrong. (more…)

With the publication of Peter Schweizer’s best-selling book Throw Them All Out, Media Matters for America embarked on a scorched-earth campaign in an attempt to undermine both Schweizer and his book, while dismissing the topic of insider trading in Congress.

Bet they’d like to have that one back.

Here’s just a taste of their relentless attack. Each headline represents another post, with even more vitriol at the link on MMfA’s website:

60 Minutes Questions Suggesting Pelosi “Conflict” Reportedly Based On Schweizer Book

Bush, Beck, Breitbart, Palin: Schweizer’s Deep Right-Wing Ties

Schweizer Previously Pushed Dishonest Smears Of Pelosi In Prior Book

Schweizer Wrote Falsehood-Laden Op-ed Accusing Al Gore Of “Hypocrisy”

Schweizer Authored Book Blaming “Big Government Liberals” For Financial Meltdown

For its part, Politico mostly followed the Media Matters line on the story, with much of its report relying on quotes from Nancy Pelosi’s office. They even included a shot at Schweizer: (more…)

When President Obama called for an end to congressional insider trading during his State of the Union Address last night, there may have been some colorful Greek expletives muttered by a multi-millionaire publisher we all know and love.

When Breitbart News began our coverage of Peter Schweizer’s best-selling book Throw Them All Out, AOL/Huffington Post was quick to proclaim the story dead on arrival.  Their full-page headline proudly proclaimed “Hit Job Falls Flat,” which displayed lousy journalism on multiple levels. AOL/HuffPo characterized the diligently investigated report as a “hit job,” they prematurely proclaimed the story a failure and as we revealed at the time, they allowed Arianna Huffington’s cozy relationship with Minority Leader Nancy Pelosi to falsely inform their readers that there was no validity to the congressional insider trading scandal.

Here we are, only ten weeks after AOL/Huffpo called our story a dud, there have been multiple congressional and senate hearings, three different laws drafted and now, using his ultimate bully pulpit, President Obama said this:

What a humiliating moment for the smart-set over at AOL/HuffPo when their candidate lends this level of importance to a story they tried hard to spike. There was a time when AOL/HuffPo tried to sell themselves to the public as a new brand of aggressive and independent journalism fighting against the old guard media who no longer resonate with the American public. Now, AOL/HuffPo is the old guard, running interference for political cronies and using their $300 million megaphone to try to shout-down others who don’t fall in line.

The old-guard media versus new media conflict has less to do with the method of delivery of the news (newsprint versus kilobytes) as much as it has to do with the stale, predictable establishment philosophy that permeates the newsrooms of these organizations.  Take a liberal political reporter from the old-guard like Howard Fineman out of the Newsweek office and put him in the high-tech environment of AOL/HuffPo and you still have the same old repetitive and destructive mindset you had before.

This phenomenon, and what sets true citizen journalism apart from the cronies in the establishment media, was best revealed on my show last night by the journalist who got all this started in the first place, Peter Schweizer, author of Throw Them All Out:

Monday night’s episode of The O’Reilly Factor, the number one show in cable news, features an unusual collaboration between FOX and CBS as Steve Kroft of 60 Minutes joins Throw Them All Out author and Breitbart editor Peter Schweizer to discuss insider trading in Congress.

In less than a week, Schweizer’s book–which documents suspicious trades by members and leaders of both parties has upended Washington, DC, prompting hearings to be scheduled in both the Senate and House and shining public scrutiny on a previously hidden avenue of potential corruption and political self-enrichment.

(more…)

Media Matters has offered up a ridiculous post that tries to distort the fundamental facts about Barack Obama’s green energy program. I hesitated whether to even comment on it because they fail in the basic tenets of honest journalism. George Soros is a large contributor to Media Matters. In my book Throw Them All Out, I point out how Soros has received millions in taxpayer money via the green energy program. And I also devote an entire chapter to Soros’s crony capitalism as it relates to the stimulus. Does Media Matters disclose this blatant conflict of interest? Of course not. Media Matters is displaying blatant cronyism, pure and simple.

Since my book Throw Them All Out is about cronyism and conflicts of interest, I guess now I’m going to have to include a new chapter on Media Matters for the paperback edition.  I will respond to their criticisms now. But until they release the names of their large donors who have received green energy taxpayer money, I will not respond more in the future. It’s a waste of time to exchange arguments with an organization that claims to be interested in the truth but runs from it. Failure to disclose these names shows a complete and total lack of integrity. Full disclosure: my source of support is apparent in my title. I am the William J. Casey Fellow at the Hoover Institution. Financial support comes from the William J. Casey Foundation. And just so Media Matters doesn’t try to distort matters further, this foundation is not connected with the oil industry. Now, Media Matters, it’s your turn.

First, let’s see what they don’t dispute: that at least 10 members of Barack Obama’s 2008 National Campaign Finance Committee are large investors in companies that received Obama stimulus money and that at least one dozen campaign bundlers did the same. How many of these individuals are financial supporters of Media Matters? We will never know, because the organization would never be honest enough to reveal them to us. They also never dispute the fact that Obama-linked lobbyists have served as intermediaries to get money for green tech companies. And finally, they never dispute the criticisms that the Department of Energy’s own Inspector General has raised about how the various green energy stimulus programs have been run. (more…)

With details now erupting on Capitol Hill about Sen. John Kerry’s (D-MA) questionable investments, a curious question lingers: why did it take a Tallahassee-based think tank wonk to uncover a former presidential candidate’s aggressive trading of pharmaceutical stock during both the 2009 Obamacare debate and the 2003 prescription drug benefit plan debate?

After all, as Throw Them All Out makes clear, Sen. Kerry, while serving as a member of the Health Subcommittee on the powerful Senate Finance Committee, made huge profits off of healthcare-related trades.

So why didn’t the mainstream media expose the story, especially involving a man who ran for the nation’s highest office?

One explanation for the media’s failure to properly vet Mr. Kerry’s finances might be that some journalists believed reports like this 2005 USA Today article that claimed Mr. Kerry has a blind trust. However, according to his financial disclosure forms, Mr. Kerry does not have a blind trust. With a minimum net worth of $188.6 million, The Hill notes that Mr. Kerry is the richest member of Congress. According to Peter Schweizer’s book Throw Them All Out, “the bulk of the Kerrys’ wealth resides in a series of marital trust and commingled fund accounts.  All together, these funds include significant investments in stocks of many corporations.”

In an interview with Peter Schweizer, the author further explained that the Kerrys’ investment funds include two small funds run by Teresa Heinz Kerry’s sons, both of whom are close to Mr. Kerry and worked in senior positions on his 2004 presidential campaign. The Sustainable Technologies fund is run by Andre Heinz. He has little financial experience. The fund is set up in Sweden. The Kerrys have multiple investments in the fund through several of their trusts. Another son, Christopher Heinz, runs Rosemont Capital, where they also have invested. But neither of these are blind trusts, despite what some news outlets erroneously reported. (more…)

Is it a coincidence that four days after Nancy Pelosi sat and gave an exclusive pep talk/schmooze session with AOL’s Arianna Huffington and an all-female editorial meeting in the offices of AOL/HuffPo, Arianna’s Washington Bureau Chief phoned-in a “nothing-to-see-here” apologia for the former-Speaker’s congressional insider trading scandal?

Huffington Post's wishful thinking headline a few hours after a "60 Minutes" report on congressional insider trading.

As liberal news outlets like CBS News, Daily Beast/Newsweek and even MSNBC saw fit to report the fact that former Speaker Nancy Pelosi was involved in a sweetheart IPO for VISA, while at the same time ensuring that tough regulations that would have stifled VISA’s profits stayed bottled up in the Pelosi-controlled House of Representatives, AOL/HuffPo opted to re-print Pelosi’s talking points and obfuscations in lieu of doing actual reporting.

With the awkward and ham-handed headline “Hit Job Falls Flat,” you can almost see Arianna herself hammering out bullet points on her blackberry, firing them off to reporter Ryan Grim in an effort to put her elegant fingers in the metaphorical dyke to stop the gushing in the most serious corruption story to hit Pelosi’s long career.  The banner headline, full of wishful thinking, ran just hours after the “60 Minutes” story.  First thing on a Monday morning at the beginning of a news cycle is a curious time to declare that a story “fell flat.”

In fact, the story was talked about on cable news and in the halls of congress all day.  It inspired new legislation to finally make the corrupt practice of congressional insider trading illegal.  Presidential candidate Rick Perry produced a 30-second ad featuring the story and calling for jail-time for any politician who profited from insider information.  If this is “falling flat” I would like to see AOL/HuffPo’s idea of a successful investigative report.

Seriously, I’d really like to see one.  Do they even do anything like that, or do they just sit back and let the rest of us do all of the real reporting?

(more…)

- Google chief: Internet keeps government honest.

Broader adoption of the Internet will keep governments on their toes as wired-up citizens exercise their newfound power to check rights abuses, Google chief Eric Schmidt said on Saturday.
“In nations and communities around the world, citizens are turning to online tools to keep their governments honest,” he told business leaders on the sidelines of the Asia-Pacific Economic Cooperation (APEC) forum in Honolulu.

“Whistleblowing has never been so easy,” he said.

- Requisite boring interview with misguided Gloria Steinem: “We need to be angrier.” Really? Angrier than this? Not one question for Ms. Steinem about the number of rapes at the OWS demonstrations and the need for some to create “safe women” zones because the movement overall is unsafe for women? Steinem doesn’t want to site that sarcastically as “progress” right along with her views of abortion? It’s 2011 and progressives can’t even have a protest without raping everything in sight.

- Forbes weighs in on the Chelsea Clinton hire:

But you can’t really buy authority. What you get instead is attention, and it’s not clear networks know the difference. (Have you watched the Today Show lately?) NBC in particular is hooked on this fame trading. Clinton joins a stable of other famous media-political offspring, including Luke Russert, Jenna Bush Hager, Meghan McCain. The message here is that fame and parentage confer journalistic authority, rather than talent or an ability to get the story right. If you’ve grown up in the media bubble that no doubt helps you understand how it works. But such experience doesn’t give you an insight into how the real world works.

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Sunday night, CBS aired an edition of “60 Minutes” that took a rare look at corruption in Washington on both sides of the aisle. It even took a book by a conservative journalist and Big Peace editor, Peter Schweizer’s Throw Them All Out, as the basis for its investigations.

Yet as Noel Sheppard of NewsBusters points out, “60 Minutes” “cherry picked” Republican examples from Schweizer’s book–so much so that four out of the five targets of its investigation were Republican, even though “60 to 70 percent” of the politicians described in Schweizer’s book are Democrats.

Eighty percent Republican was still too much for Politico, whose journalists appear on the majority of daily shows on the far-left, hyper-partisan MSNBC network, according to a Daily Caller report today. The Washington-based political digest panned the CBS story.

Nevertheless, CBS seems to have revealed that a 4-to-1 ratio of Republican to Democrat targets is the minimum threshold that a mainstream media outlet must reach before it exposes massive corruption in Washington. (more…)

Below is a truly astonishing piece of C-Span video with Politico reporter Jonathan Allen:

Now watch this “60 Minutes” report and tell me there’s not a story worth pursuing here.

Obviously, Jonathan Allen isn’t at all interested in how Nancy Pelosi received access to an exclusive IPO courtesy of Visa or the wild coincidence surrounding Speaker Boehner’s health care stock trades or how this legal insider trading members of Congress are using to enrich themselves might be having some sort of corrupting influence. Why would he? He knows these people.

Move along.

Nothing to see here.

Trust us.

When I first saw the 60 Minutes report, I was flabbergasted to discover that Congress is legally allowed to use non-public information in their stock and land deals. In other words, our own public servants have an advantage over those they serve when it comes to the game of winning and losing in the world of financial speculation. This, of course, manages to answer a ton of questions as to how the Mr. Smiths who go to Washington frequently return home as Daddy Warbucks.

What really concerned me, though, was how this could have a corrosive effect on legislation. It’s bad enough (and infuriating and outrageous) that our elected representatives have loop-holed themselves from insider trading laws, but what about those who angle legislation against what’s best for the country in favor of their own portfolio or whatever land is available to purchase? Other than putting pressure on Congress to end that loophole and put their portfolios in a blind trust, that’s obviously where this story should lead to next.

And note the language I’m using here. You don’t hear me talking about liberals or Democrats or the left. Because this isn’t about partisan politics. This is about a corrupt political class exempting themselves from the laws you and I are forced to abide by as they feather their own nests.

(more…)

NBC and MSNBC (and MSNBC’s new live-in lovers Politico) might be ignoring the story along with much of mainstream media,  but CNBC is not only doing a good job of covering what our colleague Peter Schweizer uncovered in his new book “Throw Them All Out” and on “60 Minutes” last night, they’re also explaining the story in the kind of terms you need not be a financial analyst to understand.

Faced with a groundbreaking investigation by investigative journalist and Breitbart editor Peter Schweizer that reveals corrupt self-dealing on both sides of the aisle in Congress, the mainstream media had two options:

1. Criticize both sides in proportion to their involvement.
2. Defend both sides, in order to protect Democrats in power.

Yesterday, Politico chose #2. Today, Huffington Post has joined it, defending the Republican speaker it routinely derides, in order to protect the former Democrat speaker that many of its contributors hope to reinstate.

Screen grab by NewsBusters.org

As Noel Sheppard of NewsBusters points out:

As far-left outlets like the Huffington Post applaud what’s happening with the Occupy Wall Street movement around the country, you would think they’d welcome the sunlight being brought by Schweizer and 60 Minutes exposing a little known way that lawmakers use their access to further their own nests.

Pelosi is said to be worth $35 million. If she is using her position in Congress to add to her riches, shouldn’t the Huffington Post, as an unapologetic supporter of the Occupy Wall Street movement, applaud efforts to end such graft as it’s being exposed? (more…)

- Heavy fallout from the “60 Minute” piece based on the book by Big Peace editor Peter Schweizer.

- Watch the original report here.

- Big Journalism’s Dana Loesch appears on ABC’s “This Week.”

- John Dickerson is named as CBS’s new political director, and then this happens.

- Ashton Kutcher to outsource editorial discretion of his Twitter account to his PR team after he abuses the social media format with repeated attempts at stupidity.

(more…)

In response to this evening’s groundbreaking report on 60 Minutes, which targeted both Republicans and Democrats for insider trading in Congress, Politico has circled the wagons around Washington’s political elite.

The CBS story was based on original research by Hoover Institution fellow and Big Peace editor Peter Schweizer for his new book, Throw Them All Out: How Politicians and Their Friends Get Rich Off Insider Stock Tips, Land Deals, and Cronyism That Would Send the Rest of Us to Prison.

That, apparently, was enough to send Politico–and the clowns at Media Matters for America–into a panic.

While hyper-partisan Media Matters has vomited a torrent of non-sequiturs to defend House Minority Leader Nancy Pelosi from charges of inside deals (she paid high wages to her non-union farm workers? really?), Politico has attempted to defend Washington’s political class as a whole.

First, says Politico’s John Bresnahan–before describing the 60 Minutes report in any detail–Schweizer is a conservative. Hence, by implication, he has an agenda (unlike Politico, of course).

Second, Bresnahan claims, Schweizer’s allegations are old charges–nothing to see here:

The allegations regarding Bachus, Hastert and Gregg [all Republicans!] covered by 60 Minutes are several years old and have received extensive media coverage already.

Curiously, Bresnahan does not link to previous reports by Politico on these individuals. (Perhaps they were at the bottom of the page somewhere, near the Solyndra scandal.)

Third, Bresnahan adds, Pelosi and House Speaker John Boehner (also criticized in Schweizer’s book and the 60 Minutes report) are innocent of wrongdoing, because… because… they say so:

“I have not made any decisions on day-to-day trading activities of my account and haven’t for years. I do not do it, haven’t done it and wouldn’t do it,” Boehner said during a Nov. 3 press conference when asked about the transactions by Steve Kroft.

Boehner’s office dismissed the 60 Minutes report as absurd…

“First of all, what you’re contending is not true,” Pelosi said. “Second of all, we are very proud of our record of what happened.”

Instead of following up original research by Schweizer–and by CBS, which did its own, independent investigations–Politico has stepped in to act as mouthpiece for the leaders of the Washington elite.

(more…)

And now there are Four.

Yesterday, Andrew Breitbart’s fourth “Big” website, Big Peace, launched, fittingly born on the Fourth of July. Editor-in Chief Peter Schweizer, a scourge of liberal mendacity and hypocrisy, is joined by the redoubtable Frank Gaffney and Jim Hanson of Blackfive in a blog devoted to foreign policy and military affairs. Already, Peter and his crew have fielded an impressive array of bylines, including several retired military officers, the brave authority on Islam, Nonie Darwish, and the estimable Jed Babbin, among others. It’s an auspicious start to what will quickly become a must-read, indispensable national security blog.

The timing couldn’t be more propitious. With the war in Afghanistan approaching an important turning point — will American troops withdraw, as President Obama promises, or will they fight to win, as General Petraeus wishes? — the role of the Pentagon and the State Department are ripe for examination. As never before, the Pentagon is embroiled in a struggle for its very soul, with the PC, “green” bureaucrats pitted against the professional officer class, while Foggy Bottom, on its continuing, quixotic quest for “stability,” continues to be less an instrument of American foreign policy than a protector of the status quo — especially that of our enemies.

On a personal note, I particularly welcome this blog and hope to contribute to it myself from time to time. I was born on one of the major Marine Corps bases, and was raised in various military duty stations around the country. Having been present both at the fall of the Berlin Wall and the collapse of the Soviet Union, I’ve seen first-hand the causes and consequences of American foreign policy in action, and know how important it is. Small decisions in Washington today may have immense consequences thirty or forty years down the line, so it’s vital that we try to understand their ramifications early and often. (more…)