Keyword: cronycapitalism

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  • Boeing VP rips Congress over Ex-Im Bank

    10/01/2014 4:06:18 AM PDT · by Cincinatus' Wife · 15 replies
    The Hill ^ | October 1, 2014 | Kevin Cirilli
    A top Boeing official criticized Congress on Tuesday for failing to pass a long-term reauthorization of the Export-Import Bank. He also argued that an extension of the Bank’s charter until next summer leaves supporters in a worse position than they were in before. “Mostly far-right political consultants, think tanks and congressmen banded together in a fit of ideological road rage to kill the bank,” Boeing senior vice president Timothy Keating said in prepared remarks at an aerospace conference in Everett, Wash. “The temporary extension recently enacted in many respects leaves us worse off than before,” Keating continued. “The extension is...
  • Who Are You Calling the Party of the Rich?

    09/30/2014 2:09:02 AM PDT · by markomalley · 6 replies
    Townhall ^ | 9/30/2014 | Mona Charen
    The median American household saw its net worth decline by 36 percent during the Great Recession. That is a hard reality. A Republican held the White House when the crash hit, and voters, in no mood to be charitable, blamed the GOP. Besides, Democrats were ready with an explanation that slid right into an existing groove of American thinking: The financial crisis was caused by Republicans going easy on their big banker friends. By 2012, the recession had been over for three-plus years, and yet the average American saw little improvement. Average net worth continued to drift downward. Long-term unemployment...
  • The Meaning of Crony Capitalism

    09/29/2014 8:16:53 PM PDT · by jespasinthru · 26 replies
    Vanity | 9/29/2014 | jespasinthru
    Last year I took an Ethics class at school. Our professor gave us a lecture about the pros and cons of Capitalism. And at the end of the lecture, he asked us if we could define "crony capitalism". We all drew a blank. We'd all heard the phrase, but we didn't quite understand it. So he broke it down to us in very simplistic terms: "Let's sat that you own a cow. And your neighbor owns one hundred cows. But he's so greedy that he wants your cow, too. So he bribes corrupt politicians to pass laws that will take...
  • Clinton Promises World Without Profits

    09/25/2014 11:15:35 AM PDT · by Kaslin · 43 replies
    Townhall.com ^ | September 25, 2014 | John Ransom
    Democrats convened their real presidential convention for 2016 a bit early. In NYC.At the U.N. In what is becoming a proxy for what the public believes is the Democrat National Committee, the media, world government organizations and activists who think that some small, few men should decide what every other man gets to have—or not have—met in public and private in New York City this week. They harangued and proselytized, raised money and “awareness” in a purely show-business attempt to re-set the agenda off their failed policies.If only by sheer volume of their arguments, they have tried to convince America...
  • House GOP Setting the Stage for Massive Crony Capitalist Pay Backs in a Lame Duck

    09/09/2014 10:54:17 AM PDT · by cotton1706 · 19 replies
    redstate.com ^ | 9/9/14 | Erick Erickson
    House Republicans are preparing a continuing resolution to keep the government open. In doing so, they’ve decided to be total sluts for K Street and Wall Street. The Crony Capitalists, emboldened by the Chamber of Commerce’s help during primary season, are doing some very unusual things. Here’s what I hear is happening. First, they will reauthorize the Ex-Im bank, which is something K Street is desperate to see happen. Second, current reports are that they will spend more than the original Paul Ryan — Patti Murray deal that had included a tax hike. However, that is subject to change. Third,...
  • Cruz to House GOP: Punt Spending Debate Into 2015

    09/11/2014 1:53:48 AM PDT · by Cincinatus' Wife · 4 replies
    Roll Call ^ | September 10, 2014 | Niels Lesniewski with Matt Fuller
    Sen. Ted Cruz is launching an effort to push the House into a continuing resolution that funds the government into the next Congress. “It would be a serious mistake for House Republicans to pass a Continuing Resolution that would ensure that Harry Reid and the Senate Democrats would come back to Washington, after many of them will have likely lost their seats, for a no-holds barred lame duck session where they will be free to pass legislation that the American people will never be able to hold them responsible for,” the Texas Republican said in a statement provided to CQ...
  • Obama Silent on Chrysler Tax Inversion Deal

    09/09/2014 9:19:47 AM PDT · by jazusamo · 13 replies
    NLPC ^ | September 9, 2014 | Mark Modica
    It's official. Chrysler has now wholly-merged with Italian auto maker, Fiat. It had taken a bit over five years for Fiat to gain total control of the bailed out, once-American Chrysler Corporation. Back in June of 2009, President Obama gifted (payment was made in the form of "technology") an initial 20% stake in Chrysler to Fiat as part of his orchestrated auto bailout process. Fiat parlayed that into full ownership and is now showing its gratitude to the American taxpayers who helped fund the deal by relocating Chrysler's headquarters to London ; a move which will lessen the company's...
  • Stimulus bill enabled billions in waste, exploitation of employees

    09/08/2014 7:43:45 PM PDT · by SeekAndFind · 14 replies
    Hotair ^ | 09/08/2014 | Ed Morrissey
    When Barack Obama and the Democrats on Capitol Hill forced the $800 billion stimulus bill into law, they insisted that waste, fraud, and abuse would not be tolerated. They put “Sheriff” Joe Biden on the case in March 2009, with Obama warning stimulus recipients that “around the White House, we call him the Sheriff — because if you’re misusing taxpayer money, you’ll have to answer to him.” The Department of Transportation employees gathered for the speech laughed at that statement, according to the White House transcript — and well they should have. An in-depth report from McClatchy and ProPublica...
  • $60 Million For 34 States To Boost Obamacare Enrollment

    09/08/2014 4:10:45 PM PDT · by Oldeconomybuyer · 15 replies
    Kaiser Health News ^ | September 8, 2014 | By Phil Galewitz
    Two Planned Parenthood chapters, two United Way organizations, a food bank association and a Catholic hospital system are among 90 nonprofit groups that will receive a total of $60 million to help people sign up for health insurance, the Department of Health and Human Services announced today. Planned Parenthood chapters in Montana and Iowa received grants totaling about $500,000. Ascension Health, the nation’s largest Catholic hospital system, won a $241,000 grant to help people in Kansas. The Ohio Association of Food Banks will receive a $2.1 million grant. Florida Covering Kids & Families, based at the University of South Florida,...
  • An Obamacare Test for Republicans [fight corporate welfare and crony capitalism]

    09/08/2014 5:31:47 AM PDT · by Cincinatus' Wife · 4 replies
    National Review ^ | September 8, 2014 | Editors
    Congressional Republicans keep saying they oppose Obamacare. Yet they’re refusing to take the simplest and easiest action against it. The way the law is designed, insurance companies get taxpayer subsidies if they incur big losses on the exchanges. That guarantee has encouraged them to participate in the exchanges. It has also enabled them to charge lower premiums, since they do not have to cover their risks. Republicans could force supporters of Obamacare to defend these taxpayer subsidies by advancing legislation to stop them, as Senator Marco Rubio (R., Fla.) and Representative Tim Griffin (R., Ark.) have proposed. But their colleagues...
  • Michael Bloomberg returning to lead Bloomberg LP

    09/03/2014 9:14:34 PM PDT · by Olog-hai · 3 replies
    Associated Press ^ | Sep 3, 2014 10:40 PM EDT
    Former Mayor Michael Bloomberg is returning to lead the financial data and news company he founded in 1981 but left to serve three terms in City Hall. The company, Bloomberg LP, said Wednesday that current CEO Daniel Doctoroff will step down at the end of the year. Doctoroff was a deputy mayor under Bloomberg. His departure makes way for Bloomberg to take back the helm of the company, of which he still owns more than 85 percent. …
  • Paul Ryan on the Ex-Im Bank, bailouts: Tactics trump purity

    08/25/2014 5:50:41 AM PDT · by fredericbastiat1 · 9 replies
    TheBlaze Books ^ | 2014-08-25 | Benjamin Weingarten
    During the interview, Ryan addressed several issues on which conservatives have been critical of the Republican Party, from perpetuating crony capitalism to immigration. Perhaps most interesting was the congressman’s defense of votes he and fellow Republicans took in favor of TARP and the 2009 auto bailout, and his belief in the efficacy of a short-term reauthorization of the Export-Import Bank. When asked how his votes for TARP and the auto bailout comport with the populist, free market philosophy Rep. Ryan espouses in his new book, noting that he "did not enjoy" such votes, Ryan justified them on grounds of "defensive...
  • The Hill: The rise of ‘Obama Inc.’

    08/24/2014 6:46:12 AM PDT · by Kaslin · 12 replies
    Townhall.com ^ | August 24, 2014 | Nick Sorrentino
    How’s this for a depressing passage: “There’s just a lot more regulation going on,” Zelizer said. “There’s a lot of intersection between the economy and Washington.” “There’s just a lot more regulation going on.” My liberal friends, “regulation” is the mother’s milk of the crony capitalist state, the “fascist light” state. Our system of “regulation” is in most regards now just a vehicle for rent seeking. Blindly defending regulations in 2014 because liberals are supposed to be for regulation, is to give power to a vested corporate oligarchy. Am I saying that all regs are bad? No. Am I saying...
  • The Rise of Progressive Oligarchy: Reviving the 'vigilant and manly spirit' of republicanism

    08/18/2014 6:16:26 PM PDT · by 2ndDivisionVet · 10 replies
    The Federalist ^ | August 18, 2014 | Professors David Corbin and Matt Parks
    In what might have appeared to be a minor political event a few weeks back, Nancy Pelosi (D-CA) called congressman Tom Marino (R-PA) “insignificant” and “inconsequential” in a debate on the House floor. Why would the former House Speaker insult a colleague in such a manner? She didn’t count her way to this assessment; Democrats do not hold a majority of the House. Nor did she reason her way to this position, as there was nothing in Rep. Marino’s argument on the immigration issue that raised empirical red flags. Perhaps it was a momentary lapse in judgment in the midst...
  • Who rules America? [Great, but unsurprising, read]

    08/13/2014 9:10:13 AM PDT · by upchuck · 32 replies
    The Hill ^ | Aug 12, 2014 | Allan J. Lichtman
    "The public be damned!"— William H. Vanderbilt, railroad magnate, 1882 A shattering new study by two political science professors has found that ordinary Americans have virtually no impact whatsoever on the making of national policy in our country. The analysts found that rich individuals and business-controlled interest groups largely shape policy outcomes in the United States.This study should be a loud wake-up call to the vast majority of Americans who are bypassed by their government. To reclaim the promise of American democracy, ordinary citizens must act positively to change the relationship between the people and our governmentThe new study, with...
  • Study: You Have 'Near-Zero' Impact on U.S. Policy

    08/13/2014 6:29:13 AM PDT · by COUNTrecount · 34 replies
    Breitbart ^ | August 12, 2014 | Wynton Hall
    A startling new political science study concludes that corporate interests and mega wealthy individuals control U.S. policy to such a degree that "the preferences of the average American appear to have only a minuscule, near-zero, statistically non-significant impact upon public policy." The startling study, titled "Testing Theories of American Politics: Elites, Interest Groups, and Average Citizens," is slated to appear in an upcoming issue of Perspectives on Politics and was authored by Princeton University Professor Martin Gilens and Northwestern University Professor Benjamin Page. An early draft can be found here. Noted American University Historian Allan J. Lichtman, who highlighted the...
  • Comcast and Time Warner fund event for regulator while seeking merger approval [Cronyism!]

    08/13/2014 9:09:19 AM PDT · by SoFloFreeper · 10 replies
    Washington Post ^ | 8/13/14 | Josh Hicks
    Comcast and Time Warner Cable are spending more than $130,000 on a dinner to honor one of the federal regulators who will rule on their controversial merger plan, according to records of the companies’ contributions. The fundraising event for the Walter Kaitz Foundation will honor Federal Communications Commission panel member Mignon Clyburn as an advocate for diversity.
  • Frustrated small businesses give Pennsylvania a ‘D’ grade

    08/12/2014 2:30:19 AM PDT · by Olog-hai · 19 replies
    Pocono Record ^ | August 11, 2014 | Stacy M. Brown
    Pennsylvania has turned its back on small business owners, according to a recent survey. […] “After a two-month survey of thousands of small business owners nationwide, we’ve heard directly from Pennsylvania’s small businesses that the state could do more to support them,” said Jon Lieber, chief economist of Thumbtack.com. “Creating a business climate that is welcoming to small, dynamic businesses is more important than ever, and Pennsylvania’s small businesses think the state could do a better job.” […] Marie Page, owner of Marie Page Cleaning Service in Reeders, said […] “We are taxed like crazy. It is hard to get...
  • Obamacare a windfall for insurers: Ex-Obama advisor

    08/08/2014 6:58:52 PM PDT · by markomalley · 16 replies
    CNBC ^ | 8/8/2014 | Matthew J. Belvedere
    Don't believe the hype that insurance companies are getting squeezed on Obamacare. That's the message from one of the architects of the president's health-care law. "All of these companies are expanding greatly in the exchanges," Dr. Ezekiel Emanuel, former special advisor on health policy, told CNBC's "Squawk Box" on Friday. "Their revenues are up. Their profits are up. Their stocks are up. They're not suffering because of" Obamacare. Last week, Aetna Chairman and CEO Mark Bertolini appeared on the program, saying the insurer priced its 600,000 Obamacare customers who tend to be older and sicker at lower margins. Emanuel, vice...
  • Oh Goody: The IRS Fairness Brigade!

    08/06/2014 12:32:36 PM PDT · by Kaslin · 11 replies
    Townhall.com ^ | August 6, 2014 | John Ransom
    At 74,000 pages, the IRS code is a mind-boggling ode to lobbying, pork-barrel spending and graft. These are the only good things that I can say about the IRS. Ode may be too friendly a word, however. Let’s instead call it an incantation for our country. Because the code holds a country in thrall like the winged monkeys in Dorothy’s Oz were held. And until the witch is dead, we monkeys must do her bidding. Politicians, economists and ordinary citizens can’t follow the tax code, which has tripped up cabinet nominees, majority leaders and others who ought to know...
  • GAO: Government failed to report $619 billion in spending to its transparency site

    08/06/2014 4:49:57 AM PDT · by TurboZamboni · 5 replies
    WaPo ^ | 8-5-14 | Josh Hicks
    The White House budget office launched USASpending.gov in 2007 to track federal spending after scores of lawmakers, including then-Sen. Barack Obama, successfully pushed through a bipartisan bill to ensure greater transparency with the funding. At last check, less than 8 percent of the site’s spending information was accurate, and federal agencies had failed to report nearly $620 billion in grants, loans and other forms of assistance awards, according to a recent report from Congress’s nonpartisan Government Accountability Office.
  • USASpending.gov short of data on $619 billion worth of grants and awards

    08/05/2014 3:33:08 PM PDT · by Citizen Zed · 3 replies
    Washington Post ^ | 8-5-2014 | Nancy Scola
    Launched in December 2007, USASpending.gov was meant as a way of tapping modern technology to hand the American public the means to track what the federal government spends. But a new report from the Government Accountability Office found that, in 2012 at least, more than $619 billion in federal awards that should be accounted for on the site weren't. Agencies, GAO found, are generally reporting on the contracts that they hand out. What's missing from the site are grants and awards, a range of federal spending that covers everything from agricultural development to research on new naval reconnaissance. The absent...
  • Secrecy Surrounding Shelter for Illegal Immigrant Minors

    08/05/2014 8:48:56 AM PDT · by Hojczyk · 53 replies
    Sharyl Attkisson ^ | August 5,2014 | Sharyl Attkisson
    It highlights the role of a nonprofit called “BCFS” which, according to Time, has received more than $280 million since December to operate temporary housing shelters for children who illegally cross the Mexican border into the U.S. On July 7, two days before [the charity head] met Obama in Dallas, the Department of Health and Human Services awarded BCFS $190,707,505 in a single grant. The Time article also brings attention to an ongoing theme under the Obama administration: its penchant to withhold public information of public interest. According to Time, “To shield vulnerable kids from angry opponents of immigration and...
  • Obama Unfriends Putin on Facebook – Then Gives Him Hundreds of Millions of Dollars

    07/30/2014 9:52:32 AM PDT · by Kaslin · 19 replies
    Townhall.com ^ | July 30, 2014 | Michael Schaus
    Seriously. Things are beginning to look kinda pathetic for the Kerry/ Obama foreign policy doctrine. Just this week Russia violated an arms treaty by testing a new type of cruise missile; and Obama’s response was to send a letter to Vladimir Putin (not joking) explaining his disapproval. Future ramifications might include a new hashtag campaign, unfriending Putin on Facebook, or sending angry text messages late at night. And, really, given the West’s reaction to Putin’s acts of aggression in Ukraine, it only makes sense that the former KGB agent would feel emboldened to disrespect an obscure Reagan era treaty. Vladimir...
  • Obama’s Crony Capitalists Strike it Rich

    07/29/2014 10:51:18 AM PDT · by aimhigh · 13 replies
    Wall St Daily ^ | 07/28/2014 | Floyd Brown
    Take, for example, David Grain. According to Federal Election Commission reports, Grain gave $60,000 to Obama’s campaign and the DNC in 2008, and he gave $22,500 in 2012. Grain has also been a lucrative fundraising partner for Obama. In 2008, Grain helped raise an additional $200,000 to $500,000 for Obama, according to a report in Bloomberg News. And now, money is set to flow the other direction… You see, Grain owns a private equity firm called Grain Management, LLC. that failed to qualify under existing rules as a small business for an upcoming Federal Communications Commission (FCC) airwave license auction....
  • New Report on Tax Cronyism in the States

    07/24/2014 1:34:16 PM PDT · by ThethoughtsofGreg · 4 replies
    American Legislator ^ | 7-24-14 | Jacob Kohlhepp
    As the quest for tax reform sweeps the nation, policymakers are faced with the dilemma of how to best build a tax code that promotes fairness, removes roadblocks to economic growth and maintains enough revenue to provide the proper amount of public services. As ALEC has pointed out Rich States, Poor States and other publications, low tax rates and smart tax choices are the path to prosperity because they increase a state’s competitiveness and are the least hurtful to productivity. However, in the effort to lower rates and make the tax code less of a burden, there is another impediment...
  • Heritage Action Sentinel TwitterFest opposing re authorization of the Export Import Bank.

    07/24/2014 1:10:25 PM PDT · by Noremac
    Heritage Action For America ^ | July 24, 2014 | Richard Cameron
    #EndExIm Heritage Action for America is coordinating with its social media activists for a TwitterFest tonight beginning at 5:30PM EST until approximately 6PM EST on the need for Congress to put a final nail in the coffin of the wasteful, sometimes corrupt and ultimately unnecessary, Export-Import Bank. It's a form of rent seeking international pork for corporations that already have a viable business model without it. Eliminating it takes Congress out of the role of picking winners in the free market. Please post at least one Tweet with this link http://heritageaction.com/2014/04/export-import-bank-reauthorization/ and be sure to use the hashtag #EndExIm
  • Obamacare Official Gets Ethics Waiver as Former Company Faces Scrutiny

    07/23/2014 3:09:48 AM PDT · by markomalley · 2 replies
    Daily Signal ^ | 7/23/2014 | Melissa Quinn
    Andrew Slavitt, a former executive at the technology company tasked with saving HealthCare.gov and current second-in-command at the Centers for Medicare and Medicaid Services, was granted an ethics waiver by the Department of Health and Human Services to begin working with his former company immediately.The waiver was granted despite Republican lawmakers’ concerns about Slavitt’s potential conflict of interest. The Daily Signal revealed those concerns in a story yesterday.Slavitt, a former OptumInsight/QSSI group vice president, left the company last month to work as the principal deputy administrator at the Centers for Medicare and Medicaid Services, which runs Obamacare and HealthCare.gov. His...
  • Crony-Capitalism is A Great Way to Kill a Gun Company

    07/19/2014 11:31:50 AM PDT · by Kaslin · 30 replies
    Townhall.com ^ | July 19, 2014 | Michael Schaus
    t they do best: Go on strike. By 1988, the company had lost a number of high-dollar contracts, and the end of their beginning was clearly at hand. In the decade to follow, their competitors warmly embraced America’s newfound fascination with the civilian market, concealed carry, and home defense. Colt, on the other hand, decided to take a more pragmatic approach. And, by “pragmatic”, I mean “liberal” approach: A wealthy industrialist, from the heart of a non-gun-owning Manhattan family, decided he could steer the company to better times. With a man who knew nothing about guns at the helm, Colt...
  • Obamacare, Cronyism, and Bailouts for Corrupt Health Insurance Companies

    07/16/2014 3:10:53 PM PDT · by Kaslin · 4 replies
    Townhall.com ^ | July 16, 2014 | Daniel J. Mitchell
    I thought TARP was the sleaziest-ever example of cronyism and corruption in Washington. The Wall Street bailout rewarded politically well-connected companies, encouraged moral hazard, and ripped off taxpayers. Heck, it was so bad that it makes the sleaze at the Export-Import Bank seem almost angelic by comparison. But I may have to reassess my views. One of the provisions of Obamacare allows the White House to give bailouts to big health insurance companies. You’re probably wondering why these big firms would need bailouts. After all, didn’t Obamacare coerce millions of people into becoming involuntary customers of these companies? That should...
  • Report: Us Propaganda Song Discouraging 'Death Train' Trips Tops Charts In Central America

    07/14/2014 11:10:20 AM PDT · by SeekAndFind · 17 replies
    Breitbart ^ | 07/14/2014 | Tony Lee
    The U.S. government has created a widely popular song about the "death train" to discourage Central Americans from risking their lives in pursuit of the amnesty that they believe awaits them across the U.S.-Mexico border. The Daily Beast reported that "La Bestia" is a hit song in Central America that is a part of America's propaganda campaign to let Central Americans know about the dangers of the "death train," which is also called "the beast." “Migrants from everywhere, entrenched along the rail ties. Far away from where they come, further away from where they go,” the song informs Central American...
  • Corruption you can’t imagine

    07/14/2014 5:42:55 AM PDT · by jmcenanly · 3 replies
    Euromaidan Press ^ | July 13, 2014 | Thomas Theiner
    n December 2013 Ukrainians rose up against the government of Viktor Yanukovych, who had won the 2010 presidential elections. Since he fled Kyiv last February journalists and pundits form the West have declared the Ukrainian revolution to be a geopolitical revolution or a pro-EU revolution; while propaganda from Moscow tries to paint the Ukrainian revolution as a fascist putsch. They are all wrong! The spark that lit the Ukrainian revolution was Yanukovych’s rejection of a trade pact with the European Union, yet the reason for the revolution was the population’s despair with the most omnipresent, all-encompassing and brutal system of...
  • Sen Kirk not planning to back Manchin Ex-Im bill [Schumer's bi-partisan bill - poof!?]

    07/02/2014 12:50:02 AM PDT · by Cincinatus' Wife · 7 replies
    The Hill ^ | July 1, 2014 | Kevin Cirilli
    Sen. Mark Kirk’s (R-Ill.) office said the centrist senator has no plans to co-sponsor bipartisan legislation to reauthorize the Export-Import Bank. The move comes after Sen. Charles Schumer (D-N.Y.) announced Senate Democrats would organize a vote on reauthorizing Ex-Im, a top priority for the U.S. Chamber of Commerce and other business groups, soon after the July 4 recess. Schumer’s move highlights how renewing the Export-Import Bank is becoming more of a partisan issue. Republicans are divided over renewing Ex-Im, with Tea Party conservatives arguing the bank’s financing of loans and loan guarantees is a form of crony capitalism best left...
  • Former EU officials and an MEP land ‘revolving door’ jobs

    06/30/2014 4:51:23 AM PDT · by Olog-hai · 1 replies
    EU Observer ^ | 30.06.14 @ 09:29 | Nikolaj Nielsen
    A handful of former EU officials and an outgoing top MEP have landed jobs in industry sectors that they legislated on. The cases highlight what pro-transparency experts describe as a “revolving door” where policymakers are hired to work for private companies with a vested interest in EU-level legislation.Last October, two consultancy firms hired Joăo Pacheco. Pacheco was at that time the European Commission’s deputy director of agriculture. Today, he is the director for European markets AFJ and associates in the US. He is also president at the Brussels-based JSPacheco-International consultancy firm. …
  • Clinton can’t stop gaffes on crony capitalism

    06/23/2014 8:42:44 AM PDT · by PoloSec · 17 replies
    Washington Examiner ^ | June 23 2014 | Chris Stirewalt
    CLINTON CAN’T STOP GAFFES ON CRONY CAPITALISM Can Hillary Clinton, who says she and her husband went on from being “dead broke” in 2001 to rake in an estimated $155 million, run for president as the nominee of a party that is obsessed with income inequality? No problem, she told The Guardian, because the Clintons pay their taxes. The Democratic 2016 frontrunner dismissed the idea that voters would see a corporate-connected candidate with a nine-digit income in the past decade as part of the problem: “‘But they don't see me as part of the problem,’ she protests, ‘because we pay...
  • Prosecutors subpoena Congress in trading probe

    06/18/2014 5:10:20 PM PDT · by Oldeconomybuyer · 11 replies
    Market Watch ^ | June 18, 2014 | By Brody Mullins and Andrew Ackerman
    WASHINGTON — Prosecutors are gathering evidence for a grand-jury probe into whether congressional staff helped tip Wall Street traders to a change in health-care policy, an indication the long-running investigation has entered a more serious phase. Public documents show federal law-enforcement officials and the Securities and Exchange Commission are seeking records and other evidence from the House Ways and Means Committee and a top congressional health-care aide, Brian Sutter, staff director of the Ways and Means Committee’s health-care subpanel. The probe was sparked by a 2013 Wall Street Journal report that detailed how health-insurance stocks jumped moments before the government...
  • Hoyer: Only Hensarling Blocking Export-Import Bank Reauthorization

    06/18/2014 1:15:16 AM PDT · by Cincinatus' Wife · 4 replies
    Roll Call ^ | June 17, 2014 | Emma Dumain
    There’s only “one member of the Republican Party” holding up reauthorization of the Export-Import Bank, according to Minority Whip Steny H. Hoyer: Financial Services Chairman Jeb Hensarling, R-Texas. “I don’t think there’s any doubt [he's] the one holding it up,” the Maryland Democrat told reporters at his weekly press briefing Tuesday morning. “It’s not an impression. It’s a fact.” Hoyer went on to say that House GOP leaders, particularly outgoing Majority Leader Eric Cantor of Virginia, want to reauthorize the institution designed to help U.S. companies finance goods for sale overseas. The two lawmakers actually worked closely together at the...
  • Kill Keystone Pipeline And You Kill Americans

    06/11/2014 5:22:38 PM PDT · by jazusamo · 8 replies
    Investors.com ^ | June 11, 2014 | IBD Editorial
    Energy: As a big Dem donor talks of pipeline terrorism, new federal reports warn that killing Keystone XL will overburden rail transport of oil and result in more frequent and deadlier environmental disasters. Environmentalists who claim that the Keystone pipeline from Canada represents an unprecedented environmental threat ignore that the pipeline would pose no greater danger than the more than 50,000 existing miles of safely operating pipeline already crisscrossing the U.S. They also ignore the very real and growing environmental danger in the only viable alternate for transporting oil — by rail. Keystone would not only carry oil from Canada...
  • Goldman's Top Economist Just Made The Call We've Been Waiting 5 Years To Hear

    06/09/2014 1:02:53 PM PDT · by blam · 47 replies
    BI ^ | 6-9-2014 | Joe Weisenthal
    Joe Weisenthal June 9, 2014 Goldman's top economist, Jan Hatzius, just said the words we've been wanting to hear for five years. He believes the economy is now growing at an above-trend pace. Goldman's own proprietary current activity indicator (CAI) is showing its fastest growth since the crisis, and though he acknowledges that some of the strong May activity is the result of a snapback from a tough winter, he says that even without that snapback we're still growing at a strong rate. Here's his statement: Despite the 1% drop in real GDP in the first quarter, we believe that...
  • Crazier and Crazier Ideas from Government Economic Managers

    06/08/2014 2:33:31 PM PDT · by Kaslin · 11 replies
    Townhall.com ^ | June 8, 2014 | Hunter Lewis
    Are on the way. . . . It is major news that the European Central Bank has instituted negative interest rates for member banks. This could soon spread to the US and also to consumer accounts. If so, you would find money taken out of your bank account each quarter unless you spend it. The idea is that if low rates are not yet persuading you to spend, then why not punish you even more for saving. To make this more effective, there would also be a push for all electronic money, to keep you from stashing any away...
  • Joel Osteen Doesn’t Want Anti-Gay Stance To Define His Ministry

    06/03/2014 5:26:52 AM PDT · by goodwithagun · 18 replies
    webpronews ^ | June 4, 2014 | Val Powell
    Pastor Joel Osteen is open about his disapproval of gay marriage, but he does not want his opinion to define his whole ministry. During a talk with Osteen and his wife Victoria, HuffPost Live’s Marc Lamont Hill asked him if gay marriage goes against the rules of Christianity.
  • How Google Got States To Legalize Driverless Cars

    05/30/2014 11:13:25 PM PDT · by Lmo56 · 85 replies
    Associated Press ^ | 5/30/14 | Justin Pritchard
    MOUNTAIN VIEW, Calif. (AP) -- About four years ago, the Google team trying to develop cars driven by computers - not people - concluded that sooner than later, the technology would be ready for the masses. There was one big problem: No state had even considered whether driverless cars should be legal. And yet this week, Google said it wants to give Californians access to a small fleet of prototypes it will make without a steering wheel or pedals. The plan is possible because, by this time next year, driverless cars will be legal in the tech giant's home state.
  • End Crony Capitalism, Sell Federal Land, Limit Tax Breaks for the Rich

    05/23/2014 6:08:55 AM PDT · by Kaslin · 27 replies
    Townhall.com ^ | May 22, 2014 | Michael Barone
    Gummit don't work good. That conclusion, often that inelegantly expressed, seems to be more and more common, not only in the United States but around the world. It is certainly the verdict of John Micklethwait and Adrian Wooldridge in their new book "The Fourth Revolution: The Global Race to Reinvent the State," although expressed, as you might expect from the editor and business editor of the Economist, in far more urbane language. Their thesis is that the state has been reinvented three times in the last 400 years, and needs reinvention once more. The first revolution they name after Thomas...
  • Green billionaire prepares to attack 'anti-science' Republicans

    05/22/2014 10:32:38 AM PDT · by PaulCruz2016 · 29 replies
    CNN ^ | 05-22-2014 | Peter Hamby
    An environmental advocacy group backed by hedge fund tycoon Tom Steyer is set to unleash a seven-state, $100 million offensive against Republican "science deniers" this year, a no-holds-barred campaign-style push from the green billionaire that could help decide which party controls the Senate and key statehouses come November. The Steyer-backed outside group, NextGen Climate, has billed itself as a progressive, pro-environment counterbalance to the wealthy oil and gas industry -- as well as the primary foil to the pro-business Koch brothers and their well-funded conservative donor network. The outfit, launched last year by the San Francisco billionaire, has already pledged...
  • Brood of vipers: Health care edition

    05/21/2014 11:52:45 AM PDT · by Oldpuppymax · 2 replies
    Coach is Right ^ | 5/21/14 | Michael D. Shaw
    Anyone out there still believe that the Affordable Care Act (Obamacare) has anything to do with improving health care, or making it affordable? The original claim was that ACA was all about getting those poor uninsured people insured. As I have stated many times, had they done this, it would have been admirable, and would have had my support. Except, that was never the goal, and besides, they were far too stupid to accomplish that anyway. Instead, the ACA has become a massive crony capitalism boondoggle whose only beneficiaries are the usual suspect health care parasites—in this case largely health...
  • Obama Devotes $2 Bil to Make Federal Buildings Energy Efficient

    05/16/2014 12:05:52 PM PDT · by jazusamo · 32 replies
    Judicial Watch ^ | May 16, 2014
    It’s bad enough that American taxpayers have been repeatedly fleeced by President Obama’s many failed “green” projects, now the commander-in-chief is dedicating an extra $2 billion—on top of $2 billion already dispersed in 2011—to make federal buildings in the United States energy efficient. It’s a necessary expense to protect the planet, according to the global warming movement spearheaded—and largely funded—by the U.S. government and much of the international community. This particular investment will cut carbon pollution by more than 380 million metric tons, according to a White House announcement. That’s equivalent to removing 80 million cars from roads for a...
  • Hunter Biden to Ukraine Gas Board

    05/13/2014 2:15:28 PM PDT · by lbryce · 18 replies
    Politico ^ | May 13, 2014 | LUCY MCCALMONT
    Hunter Biden, the younger son of Vice President Joe Biden, will be joining Ukraine’s largest private gas producer, the company announced in a statement. “The company’s strategy is aimed at the strongest concentration of professional staff and the introduction of best corporate practices, and we’re delighted that Mr. Biden is joining us to help us achieve these goals,” Alan Apter, Burisma Holdings’ chairman of the board of directors, said in a statement, which was reported by The Moscow Times on Tuesday. Biden, joining the board, will be in charge of the legal unit, the company said and will provide support...
  • Tim Geithner is no hero, no matter how many times he says that he is one

    05/14/2014 10:46:33 AM PDT · by Kaslin · 9 replies
    Townhall.com ^ | May 14, 2014 | Nick Sorrentino
    TARP was the absolute height of crony capitalism. Many of the big banks should have gone down, but in the midst of a “Blackberry panic” – as David Stockman puts it – the masters of the masters of the universe lost sight of reality and the nature of markets. Yes, Goldman Sachs would have gone down. But this would have been a GOOD THING. The blood which should have filled the the streets of Downtown Manhattan would have washed the unsustainable leverage clean from the system (for a while.) Giants are meant to fall. It would have been good for...
  • Obama Blocks Keystone To Start Energy Takeover

    05/13/2014 5:00:38 PM PDT · by jazusamo · 21 replies
    Investors.com ^ | May 13, 2014 | Scott Powell
    After successfully bringing more than 30% of the U.S. economy — the health care and financial services industries — under political control during his first term, President Obama made it clear last week that a priority of his second term is to go after the energy sector — another 10.5%. The purpose of the White House's orchestrated release of the National Climate Assessment on May 7 was to set the stage to drive energy markets and fossil fuels under the heel of more government regulation. Most Americans would celebrate knowing that the U.S. is on the cusp of oil and...
  • Etsy gets $5M to stay in boro it said it’d never leave (Brooklyn NYC)

    05/13/2014 5:12:32 PM PDT · by Olog-hai · 27 replies
    Crain’s ^ | May 13, 2014 2:02 P.M | Thornton McEnery
    Gov. Andrew Cuomo announced Tuesday morning that Etsy is getting $5 million from New York state to stay in Brooklyn, a pretty nice sum for a company whose CEO publicly acknowledged just weeks ago that it “could only exist in Brooklyn.” “A company like Etsy could only exist in Brooklyn,” Etsy CEO Chad Dickerson said during an April 23 appearance at a Brooklyn Tech Triangle symposium. “Almost all of our employees live in Brooklyn and our Manhattan employees are treated with scorn.” Etsy, which was founded in Brooklyn in 2005, plans to add more than 340 jobs by 2019 (a...