From the
P0litico.com - Rep. Harry Teague and four companies he owns have been slapped with a $2.7 million civil lawsuit for failing to repay loans on equipment purchases, according to court documents. The legal action against Teague is just the latest in what has turned into a tough year, financially, for the freshman Democrat, and what may become a tough political year as the midterm elections approach. In just one year, Teague has gone from being one of the richest members of the House to a more run-of-the-mill congressional millionaire, thanks to massive losses in the value of his holdings. According to his most recent financial disclosure statement, released in mid-June, Teague saw at least an 87 percent loss in his most valuable asset, a stake in Teaco Energy Services. On his 2009 financial disclosure form, Teague listed his holdings in Teaco Energy Services at $39.6 million, making him one of the richest members of the House. Teague earned $3.3 million in dividends from those holdings. But on this year’s disclosure form, Teague reported the same holdings to be worth a maximum of $5 million, a decline in value of more than $34 million. A source familiar with the situation, however, said Teaco was “never worth as much” as the stated value of nearly $40 million in the 2009 report. This source said there was still a “significant decline” in Teaco’s worth yet not nearly as disastrous a decline as it appears. This is just the latest problem for Teague’s businesses. Earlier this year, Teague took heat after the companies he controls cut off health care benefits for 250 employees while he voted against the Democrats’ sweeping health care reform bill. On top of that, Teague is considered one of the more vulnerable Democrats in 2010, facing a stiff challenge this fall in a tough district.
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Teague hit with $2.7M lawsuit
From the Aspen Times Weekly - Gary Hubbell: The Redneck tree hugger column: Barack Obama is the best thing that has happened to America in the last 100 years. Truly, he is the savior of America's future. He is the best thing ever. Despite the fact that he has some of the lowest approval ratings among recent presidents, history will see Barack Obama as the source of America's resurrection. Barack Obama has plunged the country into levels of debt that we could not have previously imagined; his efforts to nationalize health care have been met with fierce resistance nationwide; TARP bailouts and stimulus spending have shown little positive effect on the national economy; unemployment is unacceptably high and looks to remain that way for most of a decade; legacy entitlement programs have ballooned to unsustainable levels, and there is a seething anger in the populace. That's why Barack Obama is such a good thing for America. Obama is the symbol of a creeping liberalism that has infected our society like a cancer for the last 100 years. Just as Hitler is the face of fascism, Obama will go down in history as the face of unchecked liberalism. The cancer metastasized to the point where it could no longer be ignored. Average Americans who have quietly gone about their lives, earning a paycheck, contributing to their favorite charities, going to high school football games on Friday night, spending their weekends at the beach or on hunting trips — they've gotten off the fence. They've woken up. There is a level of political activism in this country that we haven't seen since the American Revolution, and Barack Obama has been the catalyst that has sparked a restructuring of the American political and social consciousness. Read more
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