Saturday, February 05, 2005

Republicans Question Social Security Plan

By LAURA MECKLER, Associated Press Writer

WASHINGTON - Congressional Republicans are expressing doubt that President Bush's plan for personal accounts in Social Security can win approval, saying lawmakers fear the political consequences of voting major change to the popular retirement program.

Some suggested that Bush jettison the central feature of his plan, which is to let younger workers divert part of their Social Security payroll taxes to private retirement accounts.

"Politically speaking, right now it's probably not doable," Sen. Pete Domenici, R-N.M., said Thursday, citing lack of Democratic support.
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Disgraced Ex-Congressman From Oregon Found Liable for Fraud

Disgraced Ex-Congressman Found Liable for Fraud, Ordered to Pay Investors
The Associated Press


The Associated Press
Published: Feb 3, 2005

ST. LOUIS (AP) - A former Oregon congressman who dropped his re-election bid in disgrace nine years ago for lying about his military background was found to have defrauded investors in an Internet startup.

A jury on Wednesday found that former Rep. Wes Cooley and a partner lied in 2000 when they said online-auction giant eBay.com was about to buy their BidBay.com. The two were ordered to pay $2.2 million to 11 St. Louis-area investors.
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