New NTIA administrator owned Cisco stock when Cisco granted coveted NTIA Buy American exemption

Financial disclosure document reveals ownership of at least $100K in Cisco stock by new NTIA administrator, Larry Strickling.

I blogged last April about how Cisco was working overtime AGAINST the Buy America provisions of the $7.2B broadband stimulus fund. Fast-forward to June 19, the National Telecommunications and Information Administration (NTIA) granted Cisco its coveted Buy American Exemption, allowing Cisco to sell to recipients of the $7.2B broadband stimulus fund all of the products that it has outsourced to contract manufacturers located overseas (it's my opinion this "exemption" rewards the behavior that the stimulus fund was passed by Congress to change). Fast-forward a week later to June 26, Larry Strickling is confirmed as the new Administrator of the National Telecommunications and Information Administration (NTIA). However, most alarming in my opinion, a financial disclosure document filed March 31 2009, showed that Stickling owned a large Cisco stock position (a minimum of at least $100K according to the document itself, page 3 - line 6. So why would I find this most alarming? Well, its been proven that a government official can be bribed with free dinners, so in my mind a government official in possession of a large corporate stockholding while that corporation is subject to administrative rulings by that same government official, raises a "mighty big red flag" in my opinion. Finally, I found the following statement (page 3 - 2nd paragraph) made by Strickling during his March 19, 2009 confirmation testimony before the U.S. Senate, exceptionally noteworthy:

"Since 2000, I have worked for a handful of telecommunications companies of varying sizes, each with their own product offerings and business strategies. None survives as a stand-alone company today. I believe these experiences with an assortment of communications companies and my previous government service at the FCC provide me a unique background for the position of Assistant Secretary."

I voted for President Obama seeking change, I did not help elect Obama as President because I wanted to see the "status quo" maintained.

Related Stories: Broadband subsidy: too much money, but mostly well targeted Net neutrality advocates score big win with broadband stimulus rules Cisco gives broadband stimulus rules a thumbs up Government releases $4 billion in broadband stimulus funds Broadband stimulus exempted from 'buy American' 4 key points on broadband stimulus money Cisco against Buy America provisions of the $7.2B broadband stimulus fund Cisco quietly downsizing through outsourcing


What's your take, do you think owning a large Cisco stock position would tempt you to give "breaks" to Cisco as a government official? BradReese.Com Cisco Refurbished - Services that protect, maintain and optimize Cisco hardware Contact: Brad Reese | Twitter: http://twitter.com/BradReese

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