Showing posts with label black money. Show all posts
Showing posts with label black money. Show all posts

Saturday, February 20, 2010

Black Social Commentary from TheGrio – 2/20/10

Saturday, January 9, 2010

Jobs Come and then disappear

chart_job_losses_010810_3.top.gifBy Chris Isidore, senior writerJanuary 8, 2010: 11:31 AM ET

NEW YORK (CNNMoney.com) -- Employers once again slashed a substantial number jobs off their payrolls in December, according to adisappointing report from the government Friday. But there was a small glimmer of hope as well.

The payroll number for November was revised to a net gain of 4,000 jobs. That's the first increase in jobs in nearly two years. The government had previously indicated that 11,000 jobs were lost in November.

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Tuesday, January 5, 2010

Black News – 1/5/10

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Revolutionary New Option for Women Considering Breast Implants

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Jesse Jackson, Al Sharpton are Right About the Census

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Black Golf Legend Bill Powell Dead

  • It's not a name that resonates with American sports fans like Jackie Robinson or Joe Louis, but ... Read More
  • By Paul Shepard on Jan 5th 2010 12:12PM | Comments (0)

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Michelle Obama Chimp Woman Image Returns

  • The chimp photos of Michelle Obama are back. Perform a Google image search, and a photo with the ... Read More
  • By Jeff Mays on Jan 5th 2010 11:34AM | Comments (0)

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Morgan Freeman to Replace the Voice of Walter Cronkite on CBS News

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Brit Hume and FOX News: Bashing Buddhism

  • Leave it to the twisted minds of FOX News to criticize adultery and bash a religion at the same ... Read More
  • By Paul Shepard on Jan 5th 2010 11:24AM | Comments (0)

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Boxer James Toney Wants in on MMA, UFC

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Burton Group, Google New Phone Nexus One & More: Business News

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Parents Face Charges for Tattooing Six of Their Young Children

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Former NBA Star Jayson Williams Hospitalized After Car Crash

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News Blast: Dr. Conrad Murray Pays Child Support, Eunice Johnson Dies at 93

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Tiger Woods Sex Tape? Someone is Shopping One Around

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New Year; Sacred Breath

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Eunice Johnson, Founder of Ebony Fashion Fair, Dies at 93

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Alpha Phi Alpha Fraternity Hazing Incident Halts National Member Intake

Saturday, October 10, 2009

Your Black Money: Fenorris Pearson Talks to Steve Harvey about Reaching Your Goals

by Fenorris Pearson, CEO Global Consumer Innovation, Inc. 

If you measure some of today’s top performers by yesterday’s gold standards, they simply wouldn’t measure up. Industry icons, business mavericks and game changers like Bill Gates, Walt Disney, Richard Branson, Steve Jobs, Rachel Ray and Michael Dell didn’t finish school or have a great education; and based on those two metrics alone, no one could have measured their full potential. By focusing only on such metrics, you might be missing the most valuable components of a person’s engine of success.

As a guest on Steve Harvey’s show, I was recently talking about success, potential and the wide gap between good grades and pure genius. Steve said something that I’ll never forget. When coming up “the hard way” he would interview for jobs or audition for various roles and, based on purely measurable qualifications – school records, his one-page resume, or whether he has movie star looks – he never quite measured up. “But what they couldn’t measure,” said Steve Harvey, “was how big my dream was…”

What a difference the power of dreams can make. As the star of The Steve Harvey Show, Steve won four NAACP Image Awards as “Outstanding Actor in a Comedy Series.” He also won an NAACP Image Award for his performance as host of the variety series It’s Showtime at The Apollo. In March 2001, Harvey received the ultimate honor: NAACP Image Award’s “Entertainer of the Year,” and now has a NY Times best-selling book on the market.

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Saturday, August 1, 2009

Illinois Files Discrimination Suit Against Wells Fargo

 

CHICAGO (Reuters) -- Illinois Attorney General Lisa Madigan filed suit Friday against Wells Fargo & Co., accusing the second-largest mortgage lender of steering blacks and Latinos into high-cost subprime loans.

"As a result of its discriminatory and illegal mortgage lending practices, Wells Fargo transformed our cities' predominantly African-American and Latino neighborhoods into ground zero for subprime lending," Madigan said in a statement.

High foreclosure rates resulted from the illegal sales practices, the state's attorney general said.

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Syracuse University Professor: College Athletes Should Be Paid

 

 

The NCAA, which is a nonprofit, tax-exempt 'educational' organization, has come under fire recently for capitalizing on the commercialization of college sports. Many athletes have accused the organization of unfairly using them for financial gain.

Since 1995, the NCAA has spent more than $84 million on legal fees, including some settlements. Former UCLA basketball star Ed O'Bannon filed a lawsuit on July 21 against the NCAA and its member schools, accusing them of illegally profiting from using the likeness of former players for commercial pursuits like video games, DVDs, and jersey sales.

Dr. Boyce Watkins, a finance professor at Syracuse University, has become a vocal critic of the NCAA, for what he calls its exploitation of the black community.

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Newport News To Hold Celebration For Michael Vick

 

NEWPORT NEWS, Va. (AP) — Community organizers in Michael Vick's (FSY) Virginia hometown are preparing a "celebration" for the former NFL quarterback.

Andrew Shannon, who is president of the Southern Christian Leadership Conference chapter in Vick's hometown of Newport News, says the event is scheduled for Aug. 8.

 

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Tuesday, July 28, 2009

Diddy’s Restaurant Owes Over $7,000 in Backed Taxes

The IRS has its sights on Sean "Diddy" Combs' Atlanta spot Justin's Restaurant, claiming it owes $7,373 in federal taxes, reports the Detroit News, citing public records. The restaurant, named in honor of his son, opened in 1998 and specializes in upscale Southern and Caribbean cuisine. An identically named restaurant in New York City closed a few years ago.

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Wednesday, April 1, 2009

Dr Boyce on John McCain’s Pardon of Jack Johnson

Jack Johnson

www.BoyceWatkins.com

I just saw an article in which Senator John McCain recently wanted to pardon Jack Johnson, the first black heavyweight champ in American history.  His actions confuse me, as McCain was one of the last holdouts on the Martin Luther King holiday a few years ago.  Also, McCain would not like Jack Johnson if he were alive today, for his spirit of defiance of America’s 400 year commitment to racism is similar to the one that scholars such as myself carry today.  In other words, we are his ideological grandchildren, and John McCain doesn’t like people like me.

I find men like McCain to be even more perplexing because they are the first to get in line to support symbolic gestures, such as pardoning a man who was convicted nearly 100 years ago, but are happy to endorse tougher sentencing laws and more prisons which incarcerate hundreds of thousands of Black men today.  It has been statistically proven that, beyond any doubt, Black males are more likely to be incarcerated for the same crimes, less likely to have adequate counsel and more likely to receive longer sentences for these crimes.  Now, we are in an era in which American corporations own stock in prisons and have a profit motive for excess incarceration, which is incredibly dangerous.  What’s worse, millions of families are destroyed by the justice system endorsed by John McCain, with these men finding insurmountable institutional hurdles to their re-entry into society.

I grow weary of those who chastise Black men for speaking out against racism, yet show up to sit in the front row of every Martin Luther King Day function.  There are even those in my own university who once hated Jim Brown and love him 30 years later.  All the while, they hate Boyce Watkins without realizing that he and Jim Brown come from the same tradition.   Such reactions show that history only repeats itself and that some Americans are quick to follow the lead created by their forefathers.

Perhaps dead Black men are the ones McCain is willing to pardon first, since they cause him the least trouble.  But the truth is that rather than hating us while we’re alive and honoring us in death, you’d be better off showing enough vision and open-mindedness to respect our point of view in the first place.   That is supposed to be what America is all about.

Rest in peace Jack Johnson.  I gave you a pardon long ago.

Friday, March 27, 2009

Obama’s Plans Gaining Steam

The Obama administration's tenth week in office was a busy one. Treasury Secretary Tim Geithner unveiled the next phase of the bank bailout. Congress took up the president's budget. And the government outlined a plan to overhaul regulation of the financial system.

The administration's efforts, along with some faint signs that economic conditions are stabilizing, helped improve the sentiment on Wall Street. Stocks posted strong gains for the week despite a selloff on Friday.

It was also a busy week on Capitol Hill.

Committees in the House and Senate largely supported Obama's priorities for the 2010 budget, with certain caveats, in the early stages of what is expected to be a months-long debate.

Lawmakers also heard testimony from Geithner on how the administration hopes to prevent future meltdowns by increasing oversight of the financial markets and preventing companies from growing too big to fail.

Meanwhile, the president continued to promote his long-term economic agenda, stressing the need to invest in health care, education and energy.

In a new rhetorical tack, Obama sought to draw a direct connection between his budget proposal and the broader themes of economic recovery and future growth.

"This budget is inseparable from this recovery," Obama told reporters Wednesday night. "It is what lays the foundation for a secure and lasting prosperity."

To promote his message, the president took a number of unconventional steps. He published an op-ed in more than 30 newspapers around the world, held his second prime time news conference, and broke technological ground with an online town hall meeting at the White House.

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Tuesday, March 10, 2009

Black News: Bernanke Says Financial System Should Be Overhauled

Federal Reserve Chairman Ben Bernanke speaks about reforming ...

The nation's financial regulatory system must be overhauled to strengthen oversight of banks, mutual funds and large financial institutions whose collapse would put the entire economy in peril, Federal Reserve Chairman Ben Bernanke said Tuesday.

"We must have a strategy that regulates the financial system as a whole, in a holistic way, not just its individual components," Bernanke said in a speech to the Council on Foreign Relations.

In his most extensive remarks on the subject, Bernanke built upon previous suggestions to bolster mutual funds and a program that insures bank deposits — and repeated his call for Congress to create a system to cushion fallout from the failure of a big financial institution.

The Fed chief's remarks come as the Obama administration and Congress are starting to crafting their overhaul strategies. For the administration, critical work on that front will be carried out among global finance officials this weekend in London. That will help set the stage for a meeting of leaders from the world's 20 major economic powers in April.

 

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Friday, March 6, 2009

Black Money: Unemployment Rate Jumps to 8.1%

Employers axed 651,000 jobs in February, pushing the unemployment rate to its highest in 25 years, as companies buckled under the strain of a recession that is showing no signs of ending, according to a government report.

While that figure was near economists' expectations for a 648,000 drop in non-farm payrolls, January and December job losses were revised sharply higher.

The Labor Department on Friday said the unemployment rate surged to 8.1% in February, the highest level since December 1983. That was above market forecasts for a rise to 7.9 from January's 7.6%.

Cost-cutting employers are resorting to even bigger layoffs as they scramble to survive the recession, feeding insecurities among those who still have jobs and those who desperately want them.

"The pace of layoffs is fast and furious," said Stuart Hoffman, chief economist at PNC Financial Services Group, before the report. "We're still in the teeth of this recession and the bite has not let up at all."

 

Click to read.

Wednesday, March 4, 2009

Dr Boyce to Keynote the National Black Graduate Student Conference

Dr Boyce Watkins will be the keynote speaker at the 2009 National Black Graduate Student Association Conference, to be held in Houston Texas March 11 - 15. The theme for this year's conference is “Engaged. Empowered. Expect It.”


NBGSA is a non-profit, student-run organization dedicated to encouraging the high-quality achievement of African-American students through academic, professional, and social programs.

Dr. Boyce Watkins is one of the world’s leading Black scholars and author of “What if George Bush were a Black Man?”  He was also the 2007 Black Speaker of the Year.  For more information, please visit www.BoyceWatkins.com.

Monday, March 2, 2009

Another Obama Nominee with Tax Problems

Tax Troubles: Take Five opened at the White House Monday with revelations that another of President Obama's Cabinet-level nominees has problems with unpaid taxes.

The Senate Finance Committee announced Monday that Ron Kirk, nominee for trade representative, owes roughly $10,000 in taxes from 2005, 2006 and 2007 for speaking fees he donated to his alma mater.

The former Dallas mayor routinely gave his speaking fees directly to Austin College in Sherman, Texas, instead of accepting them, reporting them as income and paying taxes on them, the committee said. It said he has agreed to pay the debt.

Kirk, a lawyer in private practice, also deducted $17,382 for tickets to Dallas Mavericks basketball games as entertainment expenses but could not substantiate more than 7,000 of the expenses, so he owes $2,600 in back taxes for those expenses, the committee said.

Kirk, who served as Dallas mayor from 1995-2001, is the fifth Obama nominee to run into tax trouble.

 

Click to read.

Saturday, February 28, 2009

The State of the Black Union - 2009

By Dr. Boyce Watkins

www.BoyceWatkins.com

I’ll start by saying that I love Tavis Smiley and have a tremendous amount of respect for him.  Ok, I’ve said it, and I meant it.  I hope you believe me as I write.

Tavis Smiley’s work in the Black community is critically important. But there is a difference between being an intelligent guide to enlightenment and being downright self-righteous. Tavis has a way of putting political leaders “on blast” for not showing up at his forums. When he held a debate for the Republicans in the 2008 Presidential Primaries, there were several Republican presidential candidates who chose not to attend. I understand being upset about this, because the Republican Party has paid dearly for its racism and ignorance of the needs of the Black community. Smiley responded to the Republican snub by putting the name of the candidate on the podium even if they were not there. This was a clear reminder to those in the audience that the leader “doesn’t care about issues in the Black community.”

When holding the State of the Black Union of 2008 (some confuse it with the State of Black America, issued each year by the Urban League), Smiley again invited as many political leaders as he could find, with Hillary Clinton being his star for the day. Then Senator Barack Obama, in the middle of a heated battle for Democratic delegates in Texas and Ohio, said that he could not attend the forum. Instead, he offered his wife Michelle to attend in his place. That’s when the drama got heated.

Tavis, appearing to be offended by Obama’s slight toward his conference, proceeded to nibble away at Obama’s heels every morning on The Tom Joyner Morning Show. The segments started with “he-say, she-say”, in which Tavis claimed that no one from the Obama camp offered Michelle up for attendance. But even if they had, Tavis claimed that no spouse of a presidential candidate would be acceptable for the conference, even Bill Clinton.

I must admit that I felt Tavis was doing a “Karl Rove” on the truth. It was also a slap in the face of Black women everywhere who have tremendous respect for Michelle Obama. Finally, Smiley’s words and actions bordered on petty and angered the millions of African-Americans who’d come to believe that Barack Obama could walk on water. While I’ve never felt that Obama could walk on water, I certainly did not understand Smiley’s confused obsession with Obama’s behavior. Smiley’s comments toward the Black presidential candidate reminded me of the same double standard I can sometimes get as a Black professor. You may have Black students who feel a certain degree of comfort with you, and thus empowered enough to attack you more than they would a White professor with whom they have no prior social affiliation. These situations can be nightmares, as they reflect problems with the collective self-esteem of the Black community, which leads us to feel that attacking and hurting one another is easier, and thus more satisfying than working together to fight Black oppression. In other words, Smiley was reflecting the same sentiment held by Black men who shoot one another on the street, but stand in fear of the racism in White America. Aaron McGruder, creator of the popular cartoon, “The Boondocks”, would refer to this as “a nigger moment.”

Phones were ringing off the hook, as I had friends from California to New York calling and asking “What’s wrong with Tavis?” I had no idea, since I don’t know Tavis personally. However, because we run in the same circles, I know plenty of people who know plenty of people who know Tavis. One of my great and respected friends, Kyle Bowser, is one of Tavis’ best friends, and Kyle rang my phone the day after I made my comments. Going through the blogs of other Black scholars, I had a chance to see their reactions. Melissa Harris-Lacewell at Princeton University, an intelligent (though somewhat elitist) scholar, happened to be incredibly poignant in her critique of Tavis Smiley’s behavior.

Melissa angered Tavis by writing a column that asked ”Who died and made Tavis King?”.  I wasn’t as direct in my critique of Tavis, but I did have some strong words for him. I did not want to deliver any commentary on the Tavis via the major networks, since I honestly feel that there are some conversations Black folks need to have behind closed doors. But given that we get nearly 100,000 Black readers per week on our website YourBlackWorld, I felt this to be a fitting venue to let the world know how I feel.

I issued a statement agreeing with my friend Roland Martin at CNN, who felt that Tavis was out of line by making such a strong demand on Obama at such a critical time. Yes, Hillary Clinton showed up in spite of being on the same campaign trail, but the fact was that Hillary was well positioned to win in the upcoming battlegrounds states, Texas and Ohio. Also, Hillary Clinton needed to regain the ground in the Black community that was lost when her husband Bill shot himself in the foot. The words out of Bill Clinton’s mouth were so vile, that his own “ghetto pass” was revoked immediately. Clinton had compared Barack Obama to Jesse Jackson, implying that he was simply a Black presidential candidate with no chance to win White voters. While Jesse ran a great campaign, the notion that Obama’s fate would be similar to his own was disappointing for many Black people to hear. Clinton was no longer one of us, and he certainly was not the “first Black president” anymore.

I also felt that Tavis should have been more careful about being too critical of Obama in light of the fact that he was accusing Barack of doing some things that he himself had been doing. For example, Tavis claimed that he was not going to give Obama a “ghetto pass” just because he was Black. Rather, he would challenge him and question him like he would anyone else. First, Tavis’ words presumed (self-righteously) that he knows what is best for Black folks and we cannot make this determination ourselves.  No one gives the “ghetto pass” to Ward Connerly (the guy in California fighting against Affirmative Action) or Condoleeza Rice, so the idea that Black candidates get votes only because they are Black is simply ridiculous. A “ghetto pass”, should such a pass exist, must be earned, and Obama had earned the love, trust and support of the Black community. To presume that people were supporting him just because he is Black is an insult to the collective intelligence of the Black community.

Secondly, Tavis himself had been long receiving the very same “ghetto passes” that he felt Black America was unfairly bestowing upon Obama. As powerful and revolutionary as Tavis may have sounded on The Tom Joyner Morning show, the fact that you hear “This was brought to you by Walmart” at the end of each segment reminds you that the message has been diluted by corporate sponsorship. No great Black revolutionary in American history has ever been brought to you by McDonald’s, Walmart, Wells Fargo, or any of the other corporations that sponsor Tavis’ forums.

Additionally, there is a clear reality in the life of Tavis Smiley, one that he cannot ignore: the Covenant with Black America, The State of the Black Union Conference, The “Pass The Mic” Tour, and everything else Tavis has done was created with the express objective of obtaining revenue and profitability for his corporate sponsors. Tavis has sold himself (and I do not use the word “sold” in a negative sense) to White American corporations as the broker of Black leadership. He is the man that many corporate executives believe they can go to in order to reach the African-American masses. We are the drugs, and he is the pusher: White corporate America represents the group of addicts getting high on the profitability of Black consumption.

As a Finance Professor, I must say that I see nothing wrong with the Tavis Smiley business model. I am not here to say that Tavis has “sold out”, for I don’t believe he has. We all sell something in order to make a living, and even the concept of “selling out” presumes that one has managed the thin line between making a profitable trade, versus giving up something of tremendous value. The problems with the Tavis Smiley business model arise when such a business model is pursued carelessly or selfishly. I do not accuse Tavis Smiley of being careless or selfish. However, his attacks on Senator Barack Obama, none of which were thrust on Senator Hillary Clinton, smelled of self-interest from a man who appeared to feel slighted that Obama jumped his place in the line of great Black leadership.

I felt sorry for Tavis after seeing the reactions of our readers on YourBlackWorld. Hundreds of emails and comments were coming in every day, with many readers claiming that they were once Tavis Smiley fans, but not anymore. Overnight, Tavis went from being incredibly popular, to becoming the Milly Vanilly of social commentary. I can’t help but wonder what happened behind closed doors, as I am sure his publisher became concerned that he could no longer sell books. His corporate sponsors were surely aware of the fact that he was not in control of the Black audience they were buying from him. I am willing to bet that his life was a mess, at least for a while.

I hope this year’s State of the Black Union Conference is a bit more balanced.  Tavis is a good brother who deserves our respect.  But it is my greatest hope that he learns the difference between balanced critiques and flat out “haterology”.  I do a lot of critiquing, but when it comes to Obama, I want him to succeed.  I sincerely hope that Tavis wants the same.

This is an excerpt from the book “Black American Money” by Dr. Boyce Watkins, to be released in April 2009.  For more information, please visit www.BoyceWatkins.com.

 

Tuesday, February 24, 2009

President Obama Promises to Slash the Deficit

Urging strict future restraint even as current spending soars, President Barack Obama pledged on Monday to dramatically slash the skyrocketing annual budget deficit as he started to dole out the record $787 billion economic stimulus package he signed last week.

"If we confront this crisis without also confronting the deficits that helped cause it, we risk sinking into another crisis down the road," the president warned, promising to cut the yearly deficit in half by the end of his four-year term. "We cannot simply spend as we please and defer the consequences."

He said he would reinstitute a pay-as-you-go rule that calls for spending reductions to match increases and would shun what he said were the past few years' "casual dishonesty of hiding irresponsible spending with clever accounting tricks." He called the long-term solvency of Social Security "the single most pressing fiscal challenge we face by far" and said reforming health care, including burgeoning entitlement programs, was a huge priority.

 

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Monday, February 23, 2009

Singer Rihanna’s Family Opens Up

Rihanna's family is opening up about the relationship between Rihanna and Chris Brown after an alleged altercation before the Grammy Awards that left Rihanna injured and Brown arrested.

One family member told People.com that Brown "flew so far under everyone's radar that we just didn't think he was that [abusive] type." The relative added that the news comes as a surprise because "he was always looking after her needs making sure she was happy."

The relative agreed with Rihanna's dad, Ronald Fenty, who thinks his superstar daughter should "move on" from the relationship. "I don't want her to go back to him," the family member said. "I don't think anyone does."

Earlier this week, Kimora Lee Simmons, who was showing her line Baby Phat during New York Fashion Week, spoke about the incident with The Associated Press, saying she saw the pair earlier in the night before news broke.

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Black CEO Lawrence Watkins Gives Keys to Success

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Wednesday, February 18, 2009

Black News: Roland Burris to be Investigated for Perjury

U.S. Sen. Roland Burris' admission that he tried to raise campaign funds for ousted Illinois governor Rod Blagojevich is prompting calls for his resignation and a perjury investigation.

Burris told reporters in Peoria late Monday that he "talked to some people" last year about holding a fundraiser for the now-disgraced former Democratic governor. At the time, Burris was seeking the appointment to the U.S. Senate seat vacated by President Obama.

ILLINOIS GOP LEADER: Sen. Burris should resign

SEN. BURRIS: Insists he did not change his testimony

Burris did not organize a Blagojevich fundraiser, but his latest statements about contacts with the former governor's brother and other advisers appear to contradict previous public comments, testimony and affidavits he had given to the Illinois General Assembly.

Burris originally told the Illinois House impeachment committee last month that he had no contact with Blagojevich or his representatives b

 

Click to read.