[ABOVE: Alan "Money" Mollohan (D-$$)

MONDAY MONEY MOLLAHAN NEWS
November 10, 2009
Note: The report this week is "a day late and a dollar short."

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THE ADVENTURES OF THE "OVERNIGHT MILLIONAIRE"

Congressman Alan B. Mollohan (D-WV)
Weekly News Round-up
Next report: Monday, November 17 2009.

West Virginia Watchdog: Controversial Earmarks Plague Mollohan [November 9 2009]

Much attention has been shined by West Virginia Watchdog on the ties between the Vandalia Heritage Foundation and Rep. Alan Mollohan, D-W.Va., but the congressman has continued to support other groups closely tied to his political history.

Mollohan has been under investigation by the U.S. Department of Justice since 2006 for not reporting his income and misusing his position on the House Appropriations Committee by funneling millions of dollars of earmarks to friends and associates, including five West Virginia non-profits created by the congressman: Vandalia, MountainMade, the Institute for Scientific Research, the West Virginia High Technology Consortium, and the Canaan Valley Institute.

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National Journal Under the Influence, Groups Still Paying For Lawmakers’ Trips [November 4, 2009]:

“When a confidential document leaked into the public sphere last week, it revealed the Justice Department is seeking to trump a House ethics investigation of Rep. Alan Mollohan (D-W.Va.),” Roll Call (subscription) reports. “While the request offered no new insight into the Mollohan inquiry, it did shine light on the often murky relationship between House ethics officials and federal prosecutors.”

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Hoyer: Democrats meeting pledge to ‘drain swamp’ on ethics [Nov 3 2009]:

The lawmakers under scrutiny include Rep. John Murtha (D-Pa.), the chairman of the Appropriations subcommittee on Defense, as well as Reps. Peter Visclosky (D-Ind.), James Moran (D-Va.), Norman Dicks (D-Wash.), Bill Young (R-Fla.), Marcy Kaptur (D-Ohio) and Todd Tiahrt (R-Kan.), according to the report in the Post.
…
The Justice Department had asked the panel to suspend an investigation of Rep. Alan Mollohan (D-W.Va.), according to the document, suggesting a continued Justice probe.

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Ethics inquiry looks into several House panel members [October 31 2009]:

Along with the growing PMA scandal, Democrats have been dogged by ethics questions surrounding Rep. Charles B. Rangel of New York.

This week’s disclosure detailed aspects of the continuing investigation into Rangel’s personal finances, as well as providing new details about an ethics inquiry into Rep. Alan B. Mollohan (D-W.Va.) over real estate holdings. That effort has been suspended at the request of the Justice Department while it pursues its own investigation.

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Daily scoreboard [November 8, 2009]:
Also, there have been requests for a list of those who voted for the federal takeover of the medical industry. The list:

LA-2 Cao, Anh [R]
AR-1 Berry, Robert [D]
AR-2 Snyder, Victor [D]
AZ-1 Kirkpatrick, Ann [D]
…
WI-7 Obey, David [D]
WI-8 Kagen, Steve [D]
WV-1 Mollohan, Alan [D]
WV-3 Rahall, Nick [D]
That does it. I am not voting for Alan Mollohan ever again.

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Dozens of House members under scrutiny, from early review to full probe, ethics report shows [Oct 30 2009]:

The Justice Department often asks the committee to suspend its work when prosecutors are looking at the same allegations. The document said this occurred in the case of Rep. Alan Mollohan, D-W.Va., whose finances came under scrutiny some three years ago.

“As I have said a number of times in the past, I do not know whether any investigation is ongoing or not. I have not been contacted,” Mollohan said.

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Ethics probe may have a political price [Oct 31 2009]:

Rep. Alan Mollohan (D-W.Va.), who is not on the subcommittee, is in a similar situation. He turned away a challenge in 2006 even after it was reported that he was under federal investigation.

The Post reported that the Justice Department earlier this year asked the ethics committee to suspend its probe of Mollohan, apparently because federal investigators are still looking into him. Republicans recently signed up state Sen. Clark Barnes to run against Mollohan.

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CONGRESSIONAL INVESTMENT DISCLAIMER:
Investors should seek financial advice regarding the appropriateness of investing in any congressman or senator or investment strategies discussed or recommended in this documentation and should understand that statements regarding future prospects may not be realized. Past performance is no guarantee of future results, and current performance may be lower or higher than the performance data quoted.
MARKET OUTLOOK:
Unless directly under investigation by the US Department of Justice, the outlook of investing in any individual congressman is still rated GOOD. If under investigation, that particular congressman’s rating is downgraded to: Ba (Below Investment Grade or Junk Rating).

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ALSO at DBKP: Alan Mollohan: Corruption, Cronies and Crocks of Earmarks in WV

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by Mondo Frazier
image: DBKP file

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