More problems with Obama nominations
Leon Panetta
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The White House’s nominee for Director of the Central Intelligence Agency, Leon Panetta, has earned more than $700,000 in speaking and consulting fees since the beginning of 2008, with some of the payments coming from troubled financial firms and from a firm that invests in contractors for federal national security agencies, according to financial disclosures released Wednesday.
Mr. Panetta received $56,000 from Merrill Lynch & Co. for two speeches and $28,000 for a speech for Wachovia Corp., according to disclosures released ahead of Thursday’s scheduled Senate hearing on Mr. Panetta’s nomination.
Both Merrill and Wachovia reported big losses last year and were acquired by larger firms. The Wachovia honorarium was dated Oct. 30, and the last Merrill Lynch honorarium was dated Oct. 11, according to disclosure forms filed by Mr. Panetta in connection with his nomination. At the time, Bank of America had agreed to a rescue of Merrill Lynch; Wachovia had agreed to be acquired by Wells Fargo & Co.
Mr. Panetta’s disclosure form illustrates how retired politicians commonly make money giving speeches and consulting for prominent companies with significant interests before the government. That was one element in the controversy over the cabinet nomination of former Senate Majority Leader Tom Daschle, who withdrew Tuesday.
Hilda Solis
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The husband of President Obama’s Labor secretary nominee paid about $6,400 Wednesday to settle tax liens that had been outstanding for as long as 16 years against his business, the Obama administration told USA TODAY this afternoon.
The disclosure came shortly before a scheduled 2 p.m. meeting of the Senate Health, Education, Labor and Pensions Committee, which will vote on Rep. Hilda Solis’ nomination as labor secretary. The hearing was postponed; no reason was immediately revealed.
Los Angeles County records showed 15 outstanding state and county tax liens against Sam Sayyad and his auto repair business, totaling $7,630. Two other liens worth $981 were released in 1999 after Sayyad repaid the taxes owed, according to county records.
