Published since 2008
Published on December 28, 2011
HALF OF US CONGRESS MEMBERS MILLIONAIRES - STUDIES
- Nearly half of Congress members are millionaires, including two thirds of Senators, studies have shown. A survey released last week by the Center for Responsive Politics has revealed that campaign contributions to the heads of congressional committees from industries they are responsible for regulating increased six-fold between 1998 and 2010, according to the World Socialist Web Site. The Center for Responsive Politics survey found that 250 out of the 535 members of congress have more than a million dollars in assets. Millionaires are said to constitute 1 percent of the American population. In 2010, the median net worth of a US senator averaged $2.63 million, according to the study. This figure had grown by about 11 percent since 2009, even as the income of an average American fell by between 2 and 3 percent. Despite attempts by Democratic Party supporters to present the Democrats as defenders of working people, there are more millionaire Democratic senators (37) than Republicans (30). The median net worth of Senate Democrats was likewise higher: $2.69 million compared to $2.43 million. The wealthiest member of Congress is Darrell Issa, the Republican chairman of the House Oversight and Government Reform Committee. His estimated net worth is $448 million. Issa was followed by Michael McCaul, a Republican Texas congressman, with $380 million; John Kerry, the former presidential candidate and Democratic senator from Massachusetts, with $231 million; Mark Warner, the Democratic senator from Virginia, with $192 million; and Herb Kohl, the Democratic Wisconsin senator, with $173 million. Members of Congress are required to report their wealth and income, as well as that of their spouses and families. However, due to various accounting loopholes, the figures published in the survey are only approximations that could be off by hundreds of millions. For instance, the report stated that the minimum probable net worth of Darrell Issa is $195 million, while his maximum probable net worth is $700 million. "It's no surprise that so many people grumble about lawmakers being out-of-touch," said Sheila Krumholz, executive director of the Center for Responsive Politics. "Few Americans enjoy the same financial cushion maintained by most members of Congress—or the same access to market-altering information that could yield personal financial gains." The report also notes that 23 members of Congress have more debts than assets. Ruben Hinojosa (D-Texas) owes $2.5 million; Steve Fincher (R-Tennessee) owes $3,302,503; and Alcee L. Hastings (D-Florida) owes $4,732,002. Another study, published November 16 by Citizens for Responsibility and Ethics in Washington, found that the heads of various congressional committees were lavishly paid off by the industries they were supposed to be regulating. The study found that between 1998 and 2010, the amount of campaign contributions for committee heads from the industries they were supposed to be regulating increased almost 600 percent. "They all try to suggest their fundraising is not tied to the industries they regulate, but this shows that it is," Melanie Sloan, executive director of Citizens for Responsibility and Ethics in Washington, was quoted as telling the New York Times. "People who are giving you that much money—it is not out of the goodness of their hearts—clearly they want something." The report notes that Representative Collin Peterson (D-Minnesota), the senior member of the Agriculture Committee, saw his donations from the agriculture industry grow by 711 percent between 1998 and 2010. His overall campaign contributions grew by 274 percent during that same period. Meanwhile, House Financial Services Committee chairman Spencer Bacchus saw his contributions from financial services industries grow sixfold since 1998. For his 2010 campaign, Bacchus earned two thirds of his campaign funds from industries he was supposed to be regulating.
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Headlines for December 28, 2011N KOREA HOLDS STATE FUNERAL FOR DECEASED LEADER
North Korea has begun two days of funeral services for its late leader Kim Jong-il, with hundreds of thousands expected to attend in Pyongyang, BBC News reported. Few details are known and there will ...HACKERS THREATEN TO PUBLISH E-MAILS FROM STRATFOR
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At his Dec. 27 meeting with journalists, Prof. Garnik Asatryan, Head of the Department of Iranian Studies, Yerevan State University, reported that this year has been an eventful one with respect to oriental ...FRENCH LAWMAKER EXPLAINS REASONS BEHIND DRAFTING GENOCIDE DENIAL BILL
French lawmaker Valerie Boyer, the author of the French National Assembly approved bill penalizing the denial of the Armenian Genocide, has explained the reasons behind her move. In a massage on her ...DECEMBER 28 INTERNATIONAL CINEMA DAY
Every year on December 28 the world celebrates the International Cinema Day. On this day in 1895, in the basement of the Grand Cafe in Paris (Le Salon Indien du Grand Cafe) on Boulevard des Capucines, ...OPPOSITION PARTIES NOT TO JOIN PROSPEROUS ARMENIA BEFORE ELECTIONS - REPUBLICAN SPOKESMAN
The opposition political forces are unlikely to join the coalition Prosperous Armenia party (PAP) ahead of the 2012 parliamentary election, a spokesperson of the ruling Republican Party has said. Speaking ...EARTHQUAKE IN ARMENIA
...NATO CONCERNED BY PROTRACTED CONFLICTS IN SOUTH CAUCASUS - DIPLOMAT
The protracted conflicts in the South Caucasus region are a matter of concern for Nato, according to the Daniil Christian Chobanu, the Romanian ambassador to Azerbaijan.
"Romania, as a neighboring state, ...TARZAN CHIMPANZEE DIES AT 80
Cheetah the chimpanzee from the Tarzan movies of the 1930s has died at the age of 80, Mirror.co.uk reported. The Suncoast Primate Sanctuary in Palm Harbour, Florida was quoted as announcing on its website ...ARMENIA-BASED ARDSHININVESTBANK RECEIVES FIRST TRANCHE UNDER LOAN AGREEMENT WITH ADB
The Armenia-based Ardshininvestbank has received the first, US $3m, tranche under a $15 million loan agreement signed with the Asian Development Bank (ADB) early this December. The funds are intended ...‘ARAB SPRING' NOT ABSOLUTELY A SPRING - AMBASSADOR
The developments in the Arab world countries are far from being a spring, the Syrian ambassador to Armenia, Mamun Hariri, has said. "There is a western program that aims to disrupt the unity of Syria, ...ARMENIAN EXPERT PREDICTS YEARS OF PEACE
Azerbaijan grew more fiercely indignant over the adoption of a bill criminalizing denial of the Armenian Genocide by the French National Assembly than Turkey, the political scientist Levon Melik-Shahnazaryan ...HALF OF US CONGRESS MEMBERS MILLIONAIRES - STUDIES
Nearly half of Congress members are millionaires, including two thirds of Senators, studies have shown. A survey released last week by the Center for Responsive Politics has revealed that campaign contributions ...HERITAGE PARTY MAY CONTINUE COOPERATION WITH ARMENIAN NATIONAL CONGRESS
Switching over to the proportional representation system, which has been proposed by almost all the opposition forces, is not only realistic, but also necessary for the state, Ruben Hakobyan, Vice-Chairman ...ARMENIAN PARLIAMENT VICE-SPEAKER MEETS WITH AUSTRALIAN MP
Vice-Speaker of Armenian Parliament Eduard Sharmazanov held a meeting Dec. 28 with Mr. Walt Secord, a member of the Legislative Council, Parliament of New South Wales. Ara Nranyan, a member of the Armenian ...ARMENIAN ACTIVIST FINDS OPPOSITION'S 2012 ELECTION BID ILLOGICAL
Armenia's "rotten" electoral system makes the oppositions plan to run for election illogical, Garegin Chukaszyan, a member of Sardarapat movement, has said. At a news conference on Wednesday, the activist ...KARABAKH SETTLEMENT TOP PRIORITY IN RUSSIA'S FOREIGN POLICY
Russia's efforts towards achieving a negotiated settlement of the Nagorno-Karabakh conflict have been considered a top foreign policy priority this year. An official statement on the country's Foreign ...POLITICAL LIKE-MINDEDNESS IS OBVIOUS, SAYS DASHNAK LAWMAKER
Like-mindedness on Armenia's political arena is already obvious, according to Armen Roustamyan, a member of the Armenian Revolutionary Federation-Dashnaksutyun (ARF-D) faction in parliament. At a news ...2011 MARKED ARMENIA'S ECONOMIC PROGRESS - PRESIDENT
The year 2011 brought Armenia to the track of economic progress, President Serzh Sargsyan has told the business world representatives. According to a press release by the Presidential Office, Sargsyan ...ARMENIAN SOLDIER WOUNDED ON CONTACT LINE
A gunshot released by the Azerbaijani armed troops has left an Armenian servicemen wounded on the Contact Line between the Nagorno-Karabakh Republic (NKR) and Azerbaijan. According to a press release ...SYRIA FREES 755 PROTESTERS
The Syrian government released Wednesday 755 prisoners detained over the past nine months in the regime's crackdown on dissent as observers toured a flashpoint city to see whether authorities were complying ...IRAN THREATENS TO BLOCK STRAIT OF HORMUZ OIL ROUTE
Iran says it may close a vital oil-trade route if the West imposes more sanctions over its controversial nuclear programme, BBC News reported. Vice President Mohammad Reza Rahimi warned that "not ...IRAN THREATENS TO BLOCK STRAIT OF HORMUZ OIL ROUTE
Iran says it may close a vital oil-trade route if the West imposes more sanctions over its controversial nuclear programme, BBC News reported. Vice President Mohammad Reza Rahimi warned that "not ...KAJARAN MINE WILL BE DRILLED - MAXIM HAKOBYAN
The mine in Armenia's southern village of Kajaran will be drilled, Maxim Hakobyan, General Director of Zangezur Copper Molybdenum Combine, has said. Speaking to reporters after a New Year reception ...ARMENIAN APOSTOLIC, GREEK ORTHODOX PRIESTS SCUFFLE (VIDEO)
Up to 100 Greek Orthodox and Armenian Apostolic priests and monks swinging brooms clashed inside the Church of Nativity today in Bethlehem in a frenzied turf battle, the Associated Press reported. Roman ...RUSSIA'S PUTIN CALLS FOR DIALOGUE WITH OPPOSITION
Russian Prime Minister Vladimir Putin on Wednesday said he was ready for dialogue with the opposition, including his rivals at the presidential polls, RIA Novosti reported. Asked whether he would speak ...YOUTUBE SLAM BEGINS VIDEO CLIP BATTLES FOR USERS' VOTES
Viral videos are being pitched against each other in a battle for popularity under YouTube's new Slam service, according to BBC News. The Google-owned clip website has announced that it will put a new ...BULGARIA'S POSITION COINCIDES WITH EU'S OVER KARABAKH - KINEV
Bulgaria's position over the Karabakh conflict is in line with that of the EU, Peter Kinev special advisor to Bulgarian president, has said. In an interview with the Azerbaijani news website SalamNews, ...GREECE JAILS ABBOT EPHRAIM IN MOUNT ATHOS FRAUD CASE
The abbot of the prestigious Vatopedi monastery on Mount Athos in Greece has been jailed pending trial for alleged fraud and embezzlement, BBC News reported. Abbot Ephraim, 56, is accused of arranging ...ARMENIAN ACTIVISTS LASH OUT AT GOVERNMENT OVER MINING POLICY
Activists have lashed out at the government and ruling authorities over their policy in mining industry ahead of a march that will start on Thursday. At a press conference on Wednesday, Stepan Safaryan ...FRANCE CALLS ON IRAN NOT TO BLOCK HORMUZ STRAIT
The French foreign ministry called on Iran to observe international laws and refrain from blocking the Strait of Hormuz, one of the world's most important oil routes, RIA Novosti reported. "Just ...ARMENIAN PRESIDENT DEEMS 2011 SUCCESSFUL FOR SPORTS
Armenian President Serzh Sargsyan has said that outgoing year was a successful one for sports, the Armenian sports news website Armsport.am reported. At an award-giving ceremony held at a restaurant ...SWISS MEDIATOR HOPEFUL ON ARMENIA-TURKEY THAW
Micheline Calmy-Rey, the Swiss Confederation president who led the mediation between Turkey and Armenia two years ago, said protocols between the two countries appear to be in deadlock but there is hope ...WE SPARED NO EFFORT TO DEFEND OUR NATIONAL INTERESTS - SERZH SARGSYAN
Armenia's president has said that the country's leadership spared no effort to defend national interests in the outgoing year, according to the press office of the presidential administration. At a ...UKRAINIAN CLIMBERS TO MARK EURO 2012 ON EVEREST
Mountaineers from Ukraine's Donetsk Region will play a game of soccer on Mount Everest to mark the start of the Euro 2012 football championship, which is being jointly hosted by Poland and Ukraine next ...
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Today in Armenian history- 1920 The Revolutionary Committee of the Armenian SSR nationalizes lands.
- 1991 Based on the results of the referendum of 1991 12 10, elections take place in Artsakh for a Parliament.
- 1994 The Parliament of Artsakh establishes the post of President of the Republic. In the presence of international observers, Robert Kocharian is the first to be elected to that position.
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