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--- Begin Message ---HSBC Had Lobbied Rep. Rangel Record Shows That HSBC Lobbyist Had Direct Contact With HWM Chairman New York, NY, March 3, 2010 Hesaid he was headed back to his office to work on jobs legislation, andwhen a reporter asked if he would still be the committee chairman onWednesday, Mr. Rangel said, “Yes, and I don’t lie to the press.” But he apparently does lie, under oath, to congressional investigators. Contrary to his sworn testimony before the House Committee On Standards Of Official Conduct that he “did not know what HSBC Bank was”, records uncovered by the Borrero Reportindicate that Representative Charles B. Rangel, Chairman of the HouseCommittee on Ways and Means had, on at least five occasions prior tohis testimony, been lobbied by individuals representing HSBC Bank andthat, on at least one of those occasions, the lobbyist had aface-to-face meeting with Rangel. Shortly after becoming House Ways & Means (HWM) chairman, Representative Rangel sponsored HR 1677 commonly known as the Taxpayer Protection Act of 2007. A Lobbying Report dated February 14, 2008, uncovered by the BorreroReport, indicates that during 2007 the firm Heather Podesta + Partners LLC lobbied for HSBC stating that HSBC had an “indirect interest” in the issues surrounding HR 1677. On October 25, 2007, Rep. Rangel sponsored HR 3970 known as the Tax Reduction Reform Act of 2007. The same Lobbing Report previously mentioned, indicates that between July 1st and December 31st of that year, Heather Podesta + Partners also represented HSBC relative to the pending bill. In March of 2009 Rep. Rangel sponsored HR 1586 known as the Tax on TARP Recipients. A Lobbying Report dated January 20, 2010, indicates that The Washington Tax Group, LLC was retained by HSBC to represent them on “issues related to foreign account compliance” in regards to HR 1586. Shortly before his November 4th 2009 sworn testimony before the House Ethics Committee, Rep. Rangel sponsored HR 3933 known as the Foreign Account Tax Compliance Act of 2009. A Lobbying Report dated January 20, 2010, indicates that the Washington Council of Ernst & Young represented HSBC in regards to the issues surrounding HR 3933. But particularly damaging to Rep. Rangel’s assertion that he, “did not know what HSBC Bank was” is the Lobbying Report filed by William Lynch, Jr. of Bill Lynch Associates dated August 13, 2007 in which Lynch lists his client as HSBC and describes his lobbying activity as “Categorization of Foreign Banks.” The person he lists as having lobbied? Congressman Charles Rangel. Messages left by the Borrero Report, seeking comment, to two of the lobbyist involved went unanswered.
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