Demagogue

'Twas the day after Christmas and Halliburton subsidiary KBR, the U.S. military's largest contractor in Iraq, was filing its forms with the Federal Election Commission to set up its new political action committee, KBRPAC.

So why was the company, which just agreed to pay the government $8 million to settle allegations of overbilling for work in the Balkans and which has a number of False Claims Act and congressional investigations pending, setting up its very own PAC?

Most likely because it's spinning off from parent Halliburton and needs its own operation. Or it could be because of two words: Henry Waxman.