The real Republican deficit

deficit_express_card.gifFollowing on a theme addressed in this earlier post from last fall, this timely OpinionJournal op-ed points out that the real problem to the Republican Party represented by Tom DeLay is not his dubious ethics, but that he is devoid of ideas other than self-preservation:

The real danger for Republicans now isn’t ethics; it is that, like those 1994 Democrats, they seem to have grown more comfortable presiding over the government than changing it. No one typified this more than Mr. DeLay, who has always been more fiercely partisan than he is conservative. . .
. . . [T]he GOP Congress has become mostly about its money and muscle–and the incumbency it helps to sustain. The policy and intellectual fervor, such as it was, has all but vanished. Nothing typified that more than Mr. DeLay’s comments on September 13, when he declared post-Katrina that there was nothing left in the federal budget to cut. They had already trimmed all the fat. . .

Read the entire piece. As OpinionJournal points out, if voters come to the conclusion that the GOP’s primary ambition is simply to remain in power, then “no amount of money or muscle will save Republicans at the polls.”

Texas Medical Center players make nice

TMC7.jpgThe Chronicle’s Todd Ackerman, who has done a fine job over the past couple of years of covering the divisive split between former Texas Medical Center partners, Baylor College of Medicine and the Methodist Hospital — reports today that Baylor and Methodist have entered into a settlement brokered by Texas Attorney General Greg Abbott and that Baylor and its new teaching hospital — St. Luke’s Episcopal Hospital — have decided to shelve their ongoing merger negotiations for the time being.
Whew! Never a dull moment in the Medical Center, eh?

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KPMG moves to settle tax shelter class action

kpmg logo26.jpgBattered and bruised after negotiating a deferred prosecution agreement with the Justice Department that narrowly prevented a criminal indictment of the firm, accounting giant KPMG LLP took another baby step yesterday in its plan to attempt to preserve the firm as a going concern by agreeing to submit a proposed $225 million settlement to the federal court overseeing the class action lawsuit by about 275 former KPMG clients who bought illegal tax shelters promoted by the firm. The Sidley Austin Brown & Wood LLP law firm — another defendant with KPMG in the class action — is also included in the proposed settlement, which remains subject to the U.S. District Court’s approval in Newark, N.J. Here are the previous posts on the KMPG tax shelter fiasco.
Interestingly, lead plaintiffs’ counsel in the class action is Milberg Weiss Bershad & Schulman LLP, which has a few problems of its own.

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