The NCAA March Madness - the greatest sports event in the world - amateur or professional - in terms of money that is!

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In spite of the fact college basketball is an amateur sport, there is nothing amateur about the way money is generated from the NCAA playoffs.  So massive is the revenue that it far surpasses even the Super Bowl.

Perhaps a better gauge of popularity is the amount people bet on the games and here Las Vegas knows the winner.  For every dollar bet on the Super Bowl, at least seven dollars are bet during March Madness, well over $7 billion.

In fact, if you combine revenue from the entire NFL playoffs including the Super Bowl, it is one third less than the NCAA playoffs.  If you combined all the revenue from the professional NBA, Major League Baseball, and National Hockey League playoffs, it is still one third less than the NCAA playoffs.
    

King Midas is alive and well in NCAA country.

When it comes to college basketball, one might be driven crazy by all the constant changes in conference members, the odd television broadcast schedules, the incessant drive for perfection, and the big business aspects.

There is a reason for these things as big business is big bucks.

Of course in spite of all the billions of dollars spent during March Madness, the players, those gladiators in the ring, get nothing.

But ad revenue is just a small part of the story. Investopedia identifies four more extremely lucrative ways the tournament makes money, none of which goes to the players:

1) Broadcast rights: In April 2010, the NCAA inked a deal with CBS that made the network its exclusive March Madness outlet. The contract lasts for 14 years and is worth a whopping $10.8 billion. This contract alone is projected to generate $771 million per year for the NCAA.

2) "The basketball fund": The NCAA's annual March Madness revenue is divided among the different basketball-playing schools and conferences (i.e. the Pac-12, SEC, etc.) based on factors such as schools' numbers of sports teams, scholarships awarded and tournament performances.

Conferences also have a hand in divvying up these large money pots (between 2005 and 2011, the top-earning Big East conference made $86.7 million) either evenly amongst schools or based on March Madness performance and revenue generated. According to Forbes, a team's trip to the Final Four earns its conference $9.5 million.

3) Ticket sales and sponsorships: During March Madness, tickets and sponsors generate about $40 million in revenue. Combined with the money from the broadcast rights, this accounts for 96% of the NCAA's total annual revenue.

4) Wagers: What happens in Vegas stays in Vegas, especially if it involves an unlucky March Madness bet. Americans wager an estimated $7 billion a year on the tournament. That is $1 billion more than the Super Bowl.

Also, consider the average ticket price at face value for the final four in Indianapolis is about $1,400 per person with fees up to $500.  Of course if Kentucky gets in, from the neighboring state, the scalped price may have no ceiling.

Finally, the economic impact of the NCAA tournament for host cities generates millions and millions of dollars in local revenue not to mention the Friday through Monday night schedule for the Final Four, meaning people will spend four days to see two games.

Because of the complexity of the money trail, I am including an excellent report done by Bloomberg Business on the business of money and the NCAA March Madness.  You would do well to review it in detail.

March Madness Makers and Takers

The way the NCAA distributes the staggering revenue from the basketball tournament has created a polarized system where some schools make money and others just take it.

By David Ingold and Adam Pearce | March 18, 2015

Twenty five years ago, the NCAA decided something had to be done about March Madness money. The year before, CBS agreed to pay a record $1 billion to broadcast the 1991-1997 tournaments. That was fine with the powerhouse basketball schools that routinely made it into the postseason: Under the rules at the time, they divided most of the revenue based on the number of games they won.

Conference officials feared that without a change, a handful of schools would get rich while others got nothing, and the student athletes competing in the tournament would face increasing financial pressure to win games.

Annual TV revenue from NCAA Division I men’s basketball tournament $800 million CBS and Turner Broadcasting begin $10.8 billion , 14-year deal Basketball Fund goes into effect after CBS nearly triples annual revenue to $143 million ,TV rights switch to CBS from NBC Source: NCAA reports Note: Chart shows the average annual rate over the course of a contract.

The Basketball Fund Is Born

So in 1990 the NCAA created the “basketball fund,” a plan intended to more fairly divvy up tournament revenue and parcel it out among the country’s Division I schools.

The new plan cut the amount of the payout that’s directly tied to teams’ wins and losses. Most of the tournament’s TV revenue is now earmarked for things like academic programs and financial assistance for student athletes. Even schools that don’t play in the postseason get a cut.

The remaining amount makes up the basketball fund—and it’s no small pot. Last year the fund totaled about 28 percent of the tournament’s TV revenue, or about $194 million. These coveted dollars are won or lost on the basketball court, and the battle among schools to claim them accounts for a lot of the Madness each March.

The tournament TV contract brought in $700 million in 2014… $498 million went to Division I schools… with $194 million given via the basketball fund… $199 million this year … and that amount keeps growing.

How It Works

Teams earn a “unit” for every tournament game they play up to the championship game. So a team that makes it to the final four will earn five units. Each unit is worth a specific amount each year. Instead of paying schools directly for the units they win, however, the NCAA now gives the units to a team’s conference, and the conference is responsible for distributing the money to its members. A conference can divide up the money however it wants, but the NCAA suggests schools evenly split the payout, and most conferences follow the recommendation.

The End of the $300,000 Free Throw

One goal of the basketball fund was to reduce the financial impact of individual wins and losses. Under the old system in which schools were paid each year for their wins, a player who missed a single game-winning free throw cost his team $300,000 or more. The fund changed that by spreading out the tournament payments over six years; and since that money is also split among the dozen or so teams in a conference, the dollar value attached to any single game is diluted.

Every unit won in 2015 will be worth at least $1.6 million over six years. For a strong team like Kentucky, which might earn as many as five units if it makes it to the final four, that once meant a massive payout at the end of the tournament. Under the basketball fund, those units will be split with the other 13 schools in the Southeastern Conference—dropping the per-school value of its units earned this year to about $560,000 over the next six years.

Conferences Are Key

One big effect of the fund is that it shifts the emphasis from winning teams to winning conferences. All 350 Division I teams will get a cut of this year’s $200 million basketball fund—but strong conferences with many winning teams will rack up more units and take home a much bigger share of the pile.

The nation’s top basketball programs have historically been in one of six major conferences: the ACC, Big East, Big Ten, Pac-12, Big 12, and SEC. These conferences only account for 20 percent of the teams in Division I, but they’ll likely receive about 60 percent of the basketball fund payout this year.

The fund is supposed to be about rewarding performance, and it’s fitting that the top programs will receive the largest cut of the money. But the strongest conferences also include schools with weak basketball programs—and they get an equal cut of the winnings even if they didn’t play a single game in the tournament.

Basketball Fund earnings by conference, 1991 - 2015

A System of Makers and Takers

This focus on conferences instead of teams has resulted in a system of makers and takers, where colleges in a conference lean on a few key schools with powerful basketball teams to earn money for everyone else.

Take Michigan State, a Big Ten school that’s earned 21 units during the current six-year payout period. That translates to about $5.1 million for the Big Ten in 2015 alone. After its earnings are lumped together with the rest of the conference and equally doled out, MSU will get back one-third of the amount it’s put in. Other top makers include Duke, Kansas, Kentucky, and North Carolina.

This effect is magnified in smaller conferences, where a single team could be responsible for the bulk of tournament appearances. Gonzaga University plays in the West Coast conference and is responsible for half of its revenue. It gets back an even smaller share, roughly 20 percent of what it contributes.

The inverse can be true for weak programs in strong conferences. An extreme case would be Northwestern University, which also plays in the Big Ten. Unlike Michigan State, Northwestern has never made it to the NCAA tournament – not once since 1939.

Despite contributing zero units over the last 30 years, Northwestern has received an estimated $24.5 million from the fund. This year, the school will receive roughly $2.2 million, the same amount as Michigan State.

The chart below compares how much schools have earned for their conference and how much they've gotten back. It assumes conferences equally split their basketball fund revenue like the NCAA suggests. Looking at all the schools together, it's clear that some are getting back a lot more than they put in.

Makers and takers by conference, 1991 - 2015

Movers and Shakers

Schools are continually changing conferences, typically to improve their financial situation. Though football-related money is the biggest motivator, all that jumping around also has a big impact on the basketball fund, since schools rely heavily on one another for units. Conferences with multiple earners can tough out the loss of a powerful team. But the departure of a breadwinner can mean a huge financial hit for weaker conferences.

Take the Horizon League, a mid-sized conference with schools from the Midwest that doesn’t have the depth of the ACC or Big Ten. Twice the conference has lost its top earner to the Atlantic 10, a more financially attractive conference. Xavier left in 1995, Butler in 2012. The last of the units Butler earned for the Horizon League expire in 2016, and if another program doesn't step up, the League’s revenue could drop to $1.6 million in 2017 from $5 million in 2011.

The West Coast conference now faces a similar situation with Gonzaga University. Located in Spokane, Washington, Gonzaga earns more than half the conference’s units and is a #2 seed in the tournament. A strong March Madness showing could increase its attractiveness to more powerful conferences. The school is already rumored to be a contender to join the new Big East. That leaves West Coast schools to cheer Gonzaga's success, count the millions it brings them, and pray everything stays the same.

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Cheering Our Way to the BCS Championship

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As conference champions take shape and BCS bowl invitations are on the line there are some great match-ups this weekend.  Here is what Mike Huguenin, Rivals.com College Football Editor has to say about the weekend line up.

The SEC East title will be decided when South Carolina visits Florida. Auburn can clinch the SEC West if it beats Georgia. Iowa, Wisconsin and Ohio State can stay tied atop the Big Ten with Michigan State (which is idle) is they win this week. Oklahoma State travels to reeling Texas trying to stay on top of the Big 12 South standings. There are numerous games in the ACC that will impact the division races. Oregon travels to play California, which is unbeaten at home this season. Boise State and TCU bid to remain unbeaten.

Big Ten Conf All

Michigan State (10)  5-1, 9-1
Wisconsin (6)  4-1, 8-1
Ohio State (8)  4-1, 8-1
Iowa (13)  4-1, 7-2
Penn State  3-2, 6-3
Illinois  3-3, 5-4
Purdue  2-3, 4-5
Michigan  2-3, 6-3
Northwestern  2-3, 6-3
Indiana  0-5, 4-5
Minnesota  0-6, 1-9

Iowa (7-2) at Northwestern (6-3), noon, ESPN
THE BUZZ: Iowa was lucky to come away with a win at Indiana last week and plays host to Ohio State next week. Thus, the Hawkeyes better beware of the Wildcats. Iowa coach Kirk Ferentz got his 100th career victory last week.
THE LINE: Iowa by 10. THE PICK: Iowa 28-23

Indiana (4-5) at Wisconsin (8-1), noon, ESPN2
THE BUZZ: The Badgers, who are looking good for a BCS bid, have won 11 of the past 13 in the series. In its past four meetings with Indiana, Wisconsin has averaged 305.8 rushing yards per game.
THE LINE: Wisconsin by 21.5. THE PICK: Wisconsin 44-20

Penn State (6-3) at Ohio State (8-1), 3:30 p.m., ABC regional/ESPN
THE BUZZ: The Buckeyes, who were off last week, begin a difficult final regular-season stretch; they are at Iowa next week and finish up with a home game against archrival Michigan. Buckeyes coach Jim Tressel is 6-3 against Penn State.
THE LINE: Ohio State by 18. THE PICK: Ohio State 33-17

Southeastern Conf All

East
Florida (24)  4-3, 6-3
South Carolina (22)  4-3, 6-3
Georgia  3-4, 5-5
Kentucky  1-5, 5-5
Vanderbilt  1-5, 2-7
Tennessee  0-5, 3-6

West
Auburn (2)  6-0, 10-0
LSU (5)  5-1, 8-1
Alabama (11)  4-2, 7-2
Arkansas (14)  4-2, 7-2
Mississippi State (17)  3-2, 7-2
Mississippi  1-4, 4-5

Georgia (5-5) at Auburn (10-0), 3:30 p.m., CBS
THE BUZZ: This is the 114th meeting in the Deep South's most-played rivalry. Get this: Through 113 games, the teams are separated by just 56 points (Georgia 1,778, Auburn 1,722). Georgia has won on five of its past seven trips to "The Loveliest Village on the Plains." Meanwhile, everyone in that Village is on pins and needles waiting to hear the next report concerning Cameron Newton.
THE LINE: Auburn by 8.5. THE PICK: Auburn 38-27

Mississippi State (7-2) at Alabama (7-2), 7:15 p.m., ESPN2
THE BUZZ: This will be the 94th meeting in the series -- the campuses are just 75 miles apart -- and the Tide leads 73-18-3, including 39-9-1 in Tuscaloosa. The Tide is coming off a loss to LSU that knocked them out of the running for the national title and also for the SEC West crown.
THE LINE: Alabama by 13.5. THE PICK: Alabama 23-14

South Carolina (6-3) at Florida (6-3), 7:15 p.m., ESPN
THE BUZZ: This is for the SEC East title. Florida leads the series 23-4-3, and the Gators are looking to finish 5-0 against division foes for the third season in a row and for the 11th time since the SEC expanded in 1992. The Gators are going for their 12th SEC East title, the Gamecocks their first.
THE LINE: Florida by 6.5. THE PICK: South Carolina 20-17

Louisiana-Monroe (4-5) at LSU (8-1), 7 p.m., ESPN GamePlan

THE BUZZ: This is just the second meeting all-time between the schools, which are about 150 miles apart. LSU is 33-0 all-time against current members of the Sun Belt Conference. This is ULM's third SEC West opponent of the season; it already has lost to Arkansas and Auburn.
THE LINE: LSU by 32.5. THE PICK: LSU 35-7

Big 12 Conf All

North Division
Nebraska (9)  4-1, 8-1
Missouri (20)  3-2, 7-2
Kansas State  3-3, 6-3
Iowa State  3-3, 5-5
Kansas  1-4, 3-6
Colorado  0-5, 3-6

South Division
Oklahoma State (12)  4-1, 8-1
Baylor  4-2, 7-3
Texas A&M (23)  3-2, 6-3
Oklahoma (19)  3-2, 7-2
Texas Tech  3-4, 5-4
Texas  2-4, 4-5

Texas Tech (5-4) at Oklahoma (7-2), 3:30 p.m., ABC regional/ESPN GamePlan
THE BUZZ: The Sooners didn't play well on either side of the ball in losing at Texas A&M last week, and they need to rebound quickly to remain in the hunt for the Big 12 South title. Tech's pass defense has been sieve-like, which should mean a big day for OU QB Landry Jones and WR Ryan Broyles.
THE LINE: Oklahoma by 14.5. THE PICK: Oklahoma 40-24

Kansas (3-6) at Nebraska (8-1), 7 p.m.
THE BUZZ: Nebraska owns KU, holding a 90-23-2 series lead. The Huskers expect starting QB Taylor Martinez to be back in the lineup. Kansas has been bad against the run, which means the Huskers should be able to run wild. This is KU coach Turner Gill's first game against his alma mater.
THE LINE: Nebraska by 35. THE PICK: Nebraska 56-17

Oklahoma State (8-1) at Texas (4-5), 8 p.m., ABC regional/ESPN GamePlan
THE BUZZ: Texas has lost five of its past six, and a dispirited bunch now has to face a high-powered Oklahoma State offense. The Cowboys are in the driver's seat in the Big 12 South, but they are 2-22 against Texas all-time. Oklahoma State QB Brandon Weeden has 26 TD passes and nine picks; Texas QB Garrett Gilbert has seven TD passes and 14 picks.
THE LINE: Oklahoma State by 5.5. THE PICK: Oklahoma State 34-24

Pacific-10 Conf All

Oregon (1)  6-0, 9-0
Stanford (7)  5-1, 8-1
Arizona (18)  4-2, 7-2
Oregon State  3-2, 4-4
USC  3-3, 6-3
California  3-3, 5-4
Arizona State  2-4, 4-5
UCLA  2-4, 4-5
Washington  2-4, 3-6
Washington State  0-7, 1-9

Oregon (9-0) at California (5-4), 7:30 p.m., Versus
THE BUZZ: Cal is 4-0 at home and has played much better in Berkeley than on the road. Oregon has outscored opponents 215-48 in the second half and has allowed just seven fourth-quarter points.
THE LINE: Oregon by 20. THE PICK: Oregon 58-28

Stanford (8-1) at Arizona State (4-5), 7:30 p.m., Fox Sports Arizona/Fox College Sports
THE BUZZ: Stanford has scored at least 30 points in each game this season, the longest such streak in school history. Stanford has outscored foes 226-71 in the first half and hasn't trailed at halftime this season. Arizona State has to win to become bowl-eligible; the Sun Devils have two FCS victories, meaning they need to get to seven to be eligible for a bowl bid.
THE LINE: Stanford by 5.5. THE PICK: Stanford 40-28

USC (6-3) at Arizona (7-2), 8 p.m., ABC regional/ESPN GamePlan
THE BUZZ: The Trojans lead the series 26-7, and Arizona's victory last season snapped USC's seven-game winning streak in the series. USC beat Arizona State last week and now goes for the sweep of the Pac-10's Arizona schools. This is the last Saturday game of the season for Arizona, which has a Friday game and a Thursday game left on the schedule.
THE LINE: Arizona by 4. THE PICK: Arizona 37-31
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Obama Gets Financial Reform as Wall Street Giant Goldman gets off the Hook again!

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The same day President Obama got his watered down Financial Reform bill through Congress his Administration let the top Wall Street contributor to his campaign, bad boy Goldman Sachs, off the hook with a paltry settlement for financial misconduct to the surprise of Wall Street watchers.

While claiming victory with the financial regulations, it might prove bittersweet to the Administration since Goldman, whose reckless investing many believe nearly brought down the economy, was given a paltry fine of $550 million for stock fraud and lying to investors.



The total fine for Goldman, while not admitting guilt, was half of what the street expected and amounted to just 15 days profit at Wall Street's most profitable bad boy. Since the American public lost trillions of dollars because of this and other actions by Goldman and others it was sorry testament to the enforcement capability of the Administration as they failed to make Goldman an example of Wall Street excess.

To add insult to injury for the American public, the terms of the settlement which allowed Goldman to pay the fine but plea no contest, thus avoid pleading guilty, also allows Goldman to write off the entire cost of the fine, all $550 million, as a business expense thus gaining a huge tax windfall for defrauding investors. Some punishment.



The Obama administration already let Goldman recover 100% of their derivative exposure, which did bring down the economy, when Goldman received $12.9 billion, yes billion, from the federal money going to AIG. In addition Goldman was granted access to discounted Fed funds thus insuring they would make billions of dollars in profits, and spend billions of dollars on executive bonuses, even though their actions helped cause the world economic collapse.

It is clear the Democrats are incapable of launching any kind of reasonable investigation of Goldman with all the former Goldman employees working for the Obama administration, so maybe a Republican victory in the midterm elections could finally result in unveiling the deep, dark secrets of the relationship between Barack Obama and Goldman Sachs.



No answers have ever been offered to questions like the role Goldman played in Obama's 2006 Illinois Senate race when Obama was an underdog and his opponents in the democratic primary and the general election both withdrew from the campaign at the last minute. There are claims one sold his business to Goldman and the other worked for Goldman.

Goldman secretly met with Obama in Chicago before the presidential campaign and became his largest Wall Street contributor as well as bundler for many millions more in contributions. They also sponsored a secret debate in NYC for Obama with Tom Brokaw as moderator to prep him for debating Hillary Clinton in the primary.

Was there any coincidence that the Goldman settlement came the same day as the new financial regulations were approved to crack down on Wall Street? Of course the new regulations are not effective until Obama signs them and he won't do that until next week.



How did Goldman manage to do what they did and only get a slight slap on the wrist when it cost the taxpayers trillions of dollars in losses? Was there any discussion about Goldman between Obama and Warren Buffett, one of the largest stockholders in Goldman, when they met privately the day the settlement was announced.

If the Democrat leaders in Congress are going to ignore the suspicious activity between Goldman and Obama and his campaign, not to mention their influence on his staff which has benefitted Goldman to the tune of billions of dollars since Obama got elected, then what value is any financial reform?

When the truth about what transpired comes out it may indeed be a bittersweet victory for the administration for how can they claim they have cracked down on Wall Street when they just allowed their biggest Wall Street campaign contributor to raid the public treasury for billions of dollars while costing Main Street trillions of dollars in losses?

People should demand Congress rip the veil off of any misconduct that might have taken place between the Obama campaign and Goldman, the billion dollar beneficiary of the Obama Wall Street crackdown.

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Goldman Sachs Sacked by SEC - Did the Rothschilds Finally Cast Them to the Winds?

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Three Year Quest by the CP Times Gains Momentum!



In a stunning development in the political and financial scene, today as you will learn from the following AP story, Goldman Sachs will have their day in court to prove they were not guilty of manipulating the housing market and helping to cause the collapse of the economy.



The Coltons Point Times first accused Goldman Sachs of manipulating the international markets in an illegal and unethical fashion in January of 2007, over three long years ago. By early 2008 we called for SEC action to charge Goldman with fraud in the housing and oil markets through the use of derivatives and swaps. Many articles about Goldman and their manipulation of housing mortgages, banks, oil futures, insurance companies and even the global warming community have appeared in the CPT.



We have also continuously reported on the millions of dollars Goldman was pumping into the Obama presidential campaign as well as the many things Goldman did to help get Obama elected starting in 2004. In addition we have published articles on all the Goldman alumni in the Obama administration and spread throughout the international banking community.



Today the SEC announced the first of their legal actions against the Goldman fat cats who cost us our 401K plan and housing losses while making billions of dollars off our suffering. Right now the SEC is running about four years behind in investigations but just maybe this will start the avalanche of criminal charges against the banking behemoth.



Now we all know Goldman has former execs throughout the Obama administration and financial world so don't be surprised if Goldman seeks a plea bargain which means they will pay a huge fine (though just a small fraction of what they profited) but not admit guilt. Of course it also means they can write off the entire fine as a business expense which is just as criminal as the crime they don't admit to in the first place. Congress should not allow a plea bargain or is Obama and congress really in the Goldman back pocket?



One wonders if the gunslingers at Goldman's have finally upset the highly secret international banking community who helped protect them including the House of Rothschild, and the Rothschilds have decided the manipulations by Goldman's are drawing too much attention to the world of banking and high finance. When you become a liability to these guys you suddenly disappear like Lehman Brothers and the other bad boys of finance.



SEC accuses Goldman Sachs of civil fraud
AP Report April 16, 2010

WASHINGTON – The government has accused Goldman Sachs & Co. of defrauding investors by failing to disclose conflicts of interest in mortgage investments it sold as the housing market was faltering.

The Securities and Exchange Commission announced Friday civil fraud charges against the Wall Street powerhouse and one of its vice presidents. The agency alleges Goldman failed to disclose that one of its clients helped create — and then bet against — subprime mortgage securities that Goldman sold to investors.

Investors in the mortgage securities are alleged to have lost more than $1 billion, the SEC noted.

The Goldman client implicated in the fraud is one of the world's largest hedge funds, Paulson & Co., which paid Goldman roughly $15 million for structuring the deals in 2007.

Goldman Sachs shares fell more than 10 percent after the SEC announcement.
The civil lawsuit filed by the SEC in federal court in Manhattan was the government's most significant legal action related to the mortgage meltdown that ignited the financial crisis and helped plunge the country into recession.
A Goldman Sachs spokesman didn't immediately return a call seeking comment.

The agency also charged a Goldman vice president, Fabrice Tourre, 31, who it said was principally responsible for devising the deal and marketing the securities.
The SEC is seeking unspecified fines and restitution from Goldman Sachs and Tourre.
"The product was new and complex, but the deception and conflicts are old and simple," SEC Enforcement Director Robert Khuzami said in a statement.

"Goldman wrongly permitted a client that was betting against the mortgage market to heavily influence which mortgage securities to include in an investment portfolio, while telling other investors that the securities were selected by an independent, objective third party."



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Obama's Bad Boys and How to Punish Them in Style - Bank of America and North Korea

Okay, today's lesson is how to punish the bad guys and look good to the public while really not hurting the bad guys too much in the process.

Bank of America

First we have Bank of America, the giant bank that teetered on the brink of bankruptcy because of a series of stupid and possibly illegal actions. This was the bank Bush and Obama virtually forced to absorb the investment firm of Lehman during the financial meltdown. So in return for doing the government's dirty work with Lehman, the Bank of America gets a $25 billion bank bail out from the US taxpayer. It then says it must pay $5.8 billion in bonuses to the very employees that nearly bankrupted Lehman, bonus payments which the Obama administration allows to happen.




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To punish them, however, the Security and Exchange Commission under Obama charges the Bank with lying to their stockholders about the Lehman bonuses and negotiates a fine of $31 million for the action. So, the Bank violates the law and gets fined $31 million while also being given $25 billion in taxpayer money. In addition the $5.8 billion in bonuses get paid. So we the people nailed the bad guys for $31 million while letting them get away with $31.8 billion. It seems to me we just lost $31.49 billion with the Obama settlement.

Gored Again by Gore in North Korea

Speaking of good friends of the president, there is the case of former Vice President Al Gore who we have already shown made about $100 million off the environment while telling the US Senate every cent he gets from his environmental work goes to non-profit groups. He stands to make over a billion more if Congress would pass the Obama "Cap and trade" scam which was devised by Gore and his partner Goldman Sachs. Yes, the same silent partner serving Obama.





Now Gore has two of his staff captured by the North Koreans, staff who call themselves journalists, who supposedly "accidently" wandered into the most secure Communist country left on earth. They were sentenced to 12 years in prison, rather harsh except North Korea has made it a practice to bully the Obama boys ever since the president promised to sit down and talk with them. Until now Obama said he would only talk to them if Russia, China and Japan among others were involved.





Today the White House sent in former president Bill Clinton on a private jet to negotiate for their release. I don't suppose there is any connection between Bill and Hillary, his wife and the Secretary of State, who has been getting run over by Obama's legion of foreign policy advisors. And it is also probably just coincidence that the journalists are Al Gore employees, his former VP.

So the White House pulls an end run on our allies cutting China, Russia and Japan out of the negotiations with North Korea with this sham all for political expediency to make Barack and Hillary look like they are actually accomplishing something in foreign policy which they are not. Al Gore, who has already made tens of millions off the administration, gets his employees saved at taxpayer expense and it will not be cheap.





Congress should investigate the circumstances of this action and at a minimum demand Gore pay the cost. Why in the world were his employees wandering into North Korea in the first place? Does this incredible action of sending a former US president into a hostile country to save a couple of people who violated the law of Korea in the first place have anything to do with the fact Iran has now captured three more stupid Americans who supposedly wandered into Iran last week and now it looks like both the bad boys, Iran and North Korea, have the Obama administration right where they want them.





Look for us to pay millions if not billions to these former enemies to get them to sit down and talk about all the wonderful ways we can work with and help countries dedicated to destroying our government. If this is the future direction of the Obama foreign policy then I think we need to re-examine our role in the world. Policeman or patsy, which are we?