PunditGuy

From Chrenkoff.

The weekend is gone. I haven’t had two days fly past me this fast in ages.

Back to the regular blogging schedule tomorrow.

The annual Farmer’s Day Parade is today (oh joy!), then it’s a meeting of the homeowners association (oh joy!), then it’s a trip to the movie theater to (finally) take the kids to see Star Wars Episode III (oh joy!)

I’m off on a company strategy retreat today and tomorrow (you know…that ‘day job’ kinda thing). Therefore, the ‘light blogging’ sign is officially illuminated.

Here’s a few examples from the IRS of ‘Other Income‘ that should be reported on your form 1040:

Illegal income.   Illegal income, such as money from dealing illegal drugs, must be included in your income on Form 1040, line 21, or on Schedule C or Schedule C-EZ (Form 1040) if from your self-employment activity.

Kickbacks.   You must include kickbacks, side commissions, push money, or similar payments you receive in your income on Form 1040, line 21, or on Schedule C or Schedule C-EZ (Form 1040) if from your self-employment activity.

Stolen property.   If you steal property, you must report its fair market value in your income in the year you steal it unless in the same year, you return it to its rightful owner.

I must make a note of this for my 2005 filing.

This was one of the great phrases uttered by ‘Deep Throat’ to Bob Woodward back in the early 70s when the Watergate scandal was in full swing. Ironically, 30+ years later, Mark Felt could be repeating that phrase, but this time, in relation to his money grubbing relatives.

I just finished reading the full Vanity Fair story revealing the identity of ‘Deep Throat’  – W. Mark Felt, at the time the number two man at the FBI. The article paints a picture of a man in conflict. A man desperately concerned with the perception of others. The reason he kept his identity a secret for so long was simple – he was worried about what other people would think of his actions. He worried about people accusing him of being disloyal. He worried about not upholding the honor of being an FBI man. By staying quiet, he could avoid any public scorn. He could avoid having to confront the issue. It was a safe place to be. As long as he was anonymous, his shame could stay deep inside his conscience.

What was it that broke Mark Felt’s silence? It wasn’t Woodward. The Vanity Fair piece makes a point to emphasize that Woodward didn’t want to break his promise to keep Felt’s identity hidden. Even to the end, he kept his conversations with Felt’s family vague. I respect that.

Carl Bernstein didn’t force Felt to come out either, although the story recounts an instance where Bernstein’s son told a friend that his Dad fingered Felt as the infamous source. 

Ben Bradlee kept his word too…he didn’t out Felt.

So, what was it? What was it that pushed Mark Felt to finally tell the world who he really was?

It was the money.

No, Mark Felt didn’t feel the need to get rich over his celebrity. He was content to let his secret die with him. It was Felt’s family who pressured the former FBI agent to announce his identity. Over the course of 3 or 4 years, Felt’s daughter Joan led the charge which pushed him to go public.

In the Vanity Fair piece, Joan Felt recounted the following:

“Bob Woodward’s gonna get all the glory for this, but we could make at least enough money to pay some bills, like the debt I’ve run up for the kids’ education. Let’s do it for the family.”

“Let’s do it for the family.” A ‘Class A’ guilt trip line if I’ve ever heard one. 

Joan Felt guilted her father into revealing his secret so she could profit from it. She secretly hoped that Felt and Woodward would collaborate together on a book. Why? Because the two coming out together would mean more money for her. Woodward’s marquis name would be good for at least another couple of million dollars in royalty advance money.

Look at all the pictures released yesterday during the moment when Felt met the media at his front door. Who is there with him? Joan Felt. Who’s smiling larger than anyone? Joan Felt. Who is posing with Mark Felt in Vanity Fair? Joan Felt. And why not? Joan Felt is getting her 15 minutes of fame.

Yet Mark Felt’s smile is not nearly as bright.

The former FBI agent now known as ‘Deep Throat’ will die soon. He’s reportedly 91 years of age, and his memory of the Watergate days has weakened. Years from now though, Joan Felt will be still be banking proceeds bought from the secret her father tried so hard to keep.

Joan has it all figured out.  A father’s $hame can make you rich.

More: NYT provides more evidence of the Felt greed.

UPDATE: I WAS RIGHT.

Rumor has it that Air America’s days are numbered.

Now that the veil has been lifted on the mysterious identity of ‘Deep Throat’ (aka Mark Felt), one thing has become very clear. Felt ratted Nixon out because the president didn’t promote him to FBI director.

Bob Woodward said Felt helped The (Washington) Post at a time of tense relations between the White House and much of the FBI hierarchy. He said the Watergate break-in came shortly after the death of legendary FBI director J. Edgar Hoover, Felt’s mentor, and that Felt and other bureau officials wanted to see an FBI veteran promoted to succeed Hoover.

Felt himself had hopes that he would be the next FBI director, but Nixon instead appointed an administration insider, assistant attorney general L. Patrick Gray, to the post.

So, in the end, it was an act of revenge, pure and simple. Felt had a vendetta against the president, and he got back at him by spoon feeding information to Woodward, knowing it would fatally damage Nixon.

That’s the real story.

If you are at least 30 years old, you may remember the Live Aid concerts performed back in 1985. Today, Live 8 was announced, and once again the event is being organized by Bob Geldof.

Bob Geldof unveiled plans for a repeat of 1985’s Live Aid concert, called Live 8, to highlight the ongoing problem of global poverty and debt. The free event will be held in London’s Hyde Park on 2 July with concerts in Philadelphia, Paris, Rome and Berlin.

Dear Mr. Geldof,

I hate to break it to you, but the people (teenagers) who attend your free concert will be there to see whomever shows up. They will not attend the show as a sign of solidarity to end world hunger. They will not leave the show and change their consumption habits either. In fact, 24 hours after the concert, I bet 99% of them won’t remember any of the overtly political messages blurted from the stage. All the pontificating that will go on between acts and between songs will go in one ear and out the other. Oh, you’ll hear cheers and applause alright…but don’t make more out of it than it is. Crowds like these will cheer the breaking of wind.

And the line up…Could you have picked a more boring and predictable cast of characters? Elton John campaigning against poverty! Is that some kind of joke? The (girly)man spends £100,000 a year on flowers! For all of your high intentions this is just another opportunity for millionaire rock stars to massage their egos and quell their consciences.

Like the previous concert in 1985, in the end, Live 8 will change nothing.