Tag Archives: San Francisco

Why did Nancy Pelosi not allow a vote on the Credit Card Fair Fee Act?

The San Francisco Chronicle reports on a suspicious stock deal involving Nancy Pelosi.

Excerpt:

House Minority Leader Nancy Pelosi is the subject of a report on the stock investments of members of Congress that is to air Sunday on CBS’ “60 Minutes.”

[…]Kroft asked Pelosi why she and her investor husband, Paul Pelosi, bought an initial public offering of stock in Visa, the San Francisco-based credit card company, in March of 2008.

The same month, former House Judiciary Committee Chairman John Conyers, D-Mich., introduced the Credit Card Fair Fee Act, which would have given merchants the power to negotiate lower fees with credit card companies. The bill, hostile to the credit card industry, was passed by the committee but never brought to the floor. Pelosi was speaker at the time, and controlled which legislation came to a vote.

The Pelosis bought the Visa stock in three transactions totaling $1 million to $5 million, according to financial disclosure reports. The first was the IPO, followed by two other purchases of the stock at higher prices, Pelosi said.

It certainly seems suspicious to me. She owns millions of dollars of stock in a credit card company, and then proposed legislation to regulate that industry is not allowed a vote on the floor of the House.

San Francisco: average retired city worker paid more than average worker

From the San Francisco Chronicle.

Excerpt:

The average retiree from San Francisco city government earns an annual pension of $46,272, according to the San Francisco Employees’ Retirement System. The average retiree who worked at least 30 years in city government earns an annual pension of $76,981.

The average pension for a retiree from the Fire Department is $108,552. From the Police Department? $95,016. And everybody else? $41,136.

The figures show most retirees aren’t getting anywhere near the fat packages that outrage many city residents – like the $264,000 pension paid to former Police Chief Heather Fong last year.

But city retirees are doing pretty well compared with working San Franciscans. Census data show the median family income in the city is $86,546. Per capita income is $44,373.

 

What a liberal dump.

If Obamacare is so great, then why do so many Democrats get waivers?

Investors Business Daily reports on who is getting exemptions from Obamacare.

Excerpt:

It’s bad enough that the administration has granted another 204 ObamaCare waivers. But even worse is that nearly one in five went to employers in the district of Rep. Nancy Pelosi, House architect of the bill.

It was Pelosi who said Congress had to pass the Democrats’ health care overhaul so the country could find out what’s in it.

Seems that quite a few businesses in her backyard found out what is in it and decided they didn’t like it.

According to the Daily Caller, 204 waivers for a provision of ObamaCare were approved last month — bringing the total waiver count to 1,372. Out of that April number, 38 of the waivers “are for fancy eateries, hip nightclubs and decadent hotels in” the Democrat’s hard-left San Francisco district.

The waivers, which the administration began granting only months after the bill was passed and signed, let employers avoid terms of the Patient Protection and Affordable Care Act that require health care insurance plans to carry at least $750,000 in benefits before being exhausted.

This requirement, found in the thousands of pages that make up the ObamaCare bill, is too costly for many businesses that can afford to provide health coverage only through less comprehensive plans.

The owner of Tru Spa, one of the San Francisco businesses granted a waiver, told the Daily Caller both ObamaCare and new local laws have “devastated” businesses in the region.

The employers that were granted waivers in Pelosi’s district include Boboquivari’s, a restaurant that, reports the Daily Caller, “advertises $59 porterhouse steaks, $39 filet mignons and $35 crab dinners.”

“Then, there’s Cafe des Amis, which describes its eating experience as ‘a timeless Parisian style brasserie,’ which is ‘located on one of San Francisco’s premier shopping and strolling boulevards.'”

Also among the 38 are the four-star hotel Campton Place and the self-proclaimed four-diamond Hotel Nikko.

While Pelosi’s constituents are being protected from her party’s health care wreckage, another Democratic constituency is being taken care of, as well.

A coalition of groups operating under the name wheresmywaiver.com says that “50.26% of waiver beneficiaries are unionized, despite union workers only making up 11.9% of the workforce.”

The Service Employees International Union, whose former President Andy Stern was one of the most frequent White House visitors before he was named to President Obama’s National Commission on Fiscal Responsibility and Reform, has been well-represented on the waiver list.

So have the teacher unions.

Organized labor, of course, is a heavy donor to Democratic candidates and was among the groups that pressed hard for Congress and the president to ram ObamaCare through the legislature and into Americans’ lives.

If ObamaCare is so vital to our national well-being, why are these unions and employers in a heavily Democratic district seeking relief from the burdens it imposes?

And why would Democratic Rep. Anthony Weiner, whose brilliant thought process led him to say “the bill and I are one,” ask for a waiver for his hometown of New York City?

This is what happens when the government takes money out of the private sector and lets politicians spend it. Especially left-wing politicians who are not inclined to cut taxes and reduce regulations.

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