Alert:  The Senate just passed Sen. Grassley's amendment 60 to 39.  Video of Sen. Grassley's remarks just prior to the vote is available here.

EARLIER

Thursday, February 2, 2012

Grassley seeks same transparency from political intelligence professionals as lobbyists

WASHINGTON - Senator Chuck Grassley today offered an amendment to require political intelligence operatives to register and disclose affiliations in the same way that lobbyists are required to do.

"Political intelligence professionals aren't considered lobbyists, so they don't have to disclose that they're seeking information and are paid for it," Grassley said.  "As a result, members of Congress and congressional staff have no way of knowing whether such meetings result in information being sold to firms that trade based on that information.  My amendment would shed sunshine on this kind of political intelligence gathering."

According to an October 2011 Wall Street Journal story, political intelligence has become an approximately $100 million industry that employs over 2,000 people in Washington.  Political intelligence professionals seek information from members of Congress and congressional staff and then sell the information they gather to hedge funds and other firms that trade stocks and equities based on the information.

Grassley said transparency will help make members of Congress and congressional staff more aware of whether the people they are meeting with are selling information to others who trade on that information.

The Iowa senator offered his amendment, #1493, during Senate debate on the STOCK Act, S.2038.  The Stop Trading On Congressional Knowledge bill would clarify that current prohibitions of the Securities and Exchange Commission on insider trading on non-public information extend to members of Congress and congressional staff.  It also would speed disclosure by requiring those who file annual financial disclosure statements to report stock and bond transactions within 30 days of the transaction, among other measures.

Here is the text of the floor statement Grassley delivered this afternoon regarding his amendment:

Mr. President, I would like to call up amendment #1493 and make that amendment pending.

Mr. President, the Wall Street Journal recently reported that political intelligence is an approximately $100 million industry.  The article also says that expert networks employ over 2,000 people in Washington, DC.

I say approximately because no one really knows how many people work in this industry, who they seek information from, what happens to that information, and how much they get paid.  This is the problem.

You have a growing industry with no transparency.  If a lobbyist has to register in order to advocate for a school or church, shouldn't that same lobbyist have to register if they are seeking and getting inside information to make a profit on?

This is especially true if that information would make millions for a hedge fund or a private equity firm.

Under current law, this is not the case.

My amendment merely brings some sunlight to this area.  It defines what a political intelligence lobbyist is and requires them to register - the same as any other lobbyist.  I understand that some will say that there have not been hearings on this subject and that it should be studied first.  But there isn't much that's complicated about this amendment.

If you seek information from Congress in order to make money, the American people have a right to know your name and who you're selling that information to.  That's just basic good government.

This amendment isn't just helpful to the American people, it also helps members and staff who are trying to decipher their duties under the STOCK Act.  Senators have raised the question, "How will we know if the people we speak to trade on what we say?"

By requiring lobbyists who sell information to stock traders to register, members and staff have an easy way to track who they are and who they sell information to.  This strengthens the bill and helps members and staff comply with its requirements.

Mr. President, I hope we can consider this amendment soon and bring light and transparency to this growing industry.  I yield the floor.

-30-

Courtney Wachal named to Dean's List at Mount Union

ALLIANCE, OH (02/03/2012)(readMedia)-- Courtney Wachal of Bettendorf, Iowa was named to the Dean's List for the fall 2011 semester at the University of Mount Union. Wachal, a freshman French and international studies major, is a graduate of Bettendorf High School.

To be eligible for Dean's List, students must have completed at least 12 credit hours of traditionally graded coursework while achieving a grade point average of 3.550 or better with no grade below a B.

Local Students Named to Dean's List at Cornell College

MOUNT VERNON, IA (02/02/2012)(readMedia)-- Cornell College in Mount Vernon, Iowa, named 268 students to the Dean's List for the Spring Semester. The following students in your area were named to the list.

Leanna Doyle of Davenport, earned Highest honors.

Cynthia Hampton of Illinois City, earned Honors.

Jenae Kopf of Walcott, earned Honors.

A grade point average of at least 3.6 on a 4.0 scale is required for this designation. "Highest honors" are granted to students with 4.0 averages; "high honors" are awarded to students with 3.8 to 3.99 averages; and "honors" include grade point averages of 3.6 to 3.79.

Katherine Kautz Named to Dean's List at Saint Mary's College

NOTRE DAME, IN (02/03/2012)(readMedia)-- Saint Mary's College, Notre Dame, Ind., named Katherine Kautz to the Dean's List for the fall 2011 semester. Katherine is the daughter of Ann and Gregory Kautz of Bettendorf, IA. To earn academic honors at Saint Mary's, a student must achieve a grade point average (GPA) of at least 3.6 on a 4.0 scale, have at least 12 graded credit hours, no incompletes, and no grades lower than a C.

Kirsten Dillender Named to Dean's List at Westminster College

FULTON, MO (02/03/2012)(readMedia)-- Kirsten Dillender, from Rock Island, IL, was named to the Fall 2011 Dean's List for exemplary academic performance at Westminster College, located in Fulton, MO. Dillender is a Freshman at Westminster.

The Dean's List recognizes those Westminster students who have shown high academic performance during the past semester. To be included on the Dean's List, a student must have a 3.60 semester grade point average with at least 12 hours completed that semester.

Fifty-nine student-athletes named to Clarke University Dean's List

(DUBUQUE, Iowa) Fifty-nine Clarke University student-athletes have been named to the college's Fall 2011 Dean's List. The following area students were named to the Clarke Fall 2011 Dean's List.  Among them are Megan Chitty and Abigail Willich, both of Davenport.


Fall 2011 University of Dubuque Dean's List

Dubuque, Iowa - The University of Dubuque congratulates the following students on being appointed to the Fall Semester 2011 Academic Dean's List.
To be named to the dean's list, a student must earn a grade point average (GPA) of 3.5 or higher on a 4.0 scale for that semester.
The University of Dubuque, founded in 1852, is a private, coeducational, professional University with a focus in the liberal arts.
Local students named to the UD Dean's List are David Losasso and Lauren McKissick, both from Bettendorf; Jeffery Bixby, Keaton Frye, Jacob Louis, Michael Moeller, Sarah Nylin, and Kelli Platt, all from Davenport; and Olivia Thomer of Rock Island.

Devin Lundy Named to Dean's List at Beloit College

BELOIT, WI (02/06/2012)(readMedia)-- Devin Lundy, of Davenport, IA, has been named to Beloit College's Dean's List for the fall semester.

To be eligible for the Dean's List, a student must carry a semester GPA of 3.4 or higher and take a minimum of 3 letter-graded units for the term.

February 1, 2012

Beginning in 2012 the Circuit Clerk's Office is working to develop a program to assist individuals with delinquent accounts from being referred to collections.

We have kicked off a collection program for the Felony department modeled after our Traffic department that we successfully began in March of 2011. For our initial mailing we sent out 1500 notices on January 3rd 2012, as a result of the January 20th, 2012, court date we have generated over $60,000 for that one court call. We've had over 340 cases that either paid up to date or in full. Close to 300 people appeared in court and we have approximately 1000 cases to be sent to collections.

In the month of January we have generated over $100,000 in revenue beyond what we brought in the month of November 2011, as a result of the new collection process. We normally bring in approximately $700,000 thru our office monthly.

Since initiating our Collections program in 2011, we are bringing in an additional $50,000 a month prior to sending to collection agency. We began a Payment Hearing Officer program over 10 years ago; this program has been modeled after other counties in the state to assist individuals in setting up payment plans for fines and costs owed to the County. We make every attempt to work with individuals prior to their case being sent to a collection agency. The collection company we are working with is Harris and Harris in Illinois and their website is www.pay-harris-law-firm.com.

Lisa L. Bierman, Clerk of Court Rock Island County, Illinois can be reached at 309-558-3312 or www.rockislandcounty.org.