Keyword: cronycapitalism

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  • Cromnibus Puts Taxpayers on Hook for Bank Losses [satire]

    12/13/2014 9:37:16 AM PST · by John Semmens · 4 replies
    Semi-News/Semi-Satire ^ | 13 Dec 2014 | John Semmens
    The House-passed $1.1 trillion Continuing Resolution contains a clause that exposes taxpayers to a potential $300 trillion liability for bank losses in derivatives trading. The rider to the CR was the “brain child” of Citigroup. The rider is opposed by both tea party Republicans and left wing Democrats, but is strongly supported by House GOP leadership and President Obama. House Minority Leader Nancy Pelosi (D-Calif), charged that “this maneuver puts the lie to the contention that the GOP is the Party of small government. This is a big government pay off to Wall Street financiers. I’m enormously disappointed that the...
  • The Liberal Policies that are Killing A Gun Company

    12/07/2014 8:24:06 AM PST · by Kaslin · 80 replies
    Townhall.com ^ | December 7, 2014 | Michael Schaus
    Given that our Commander in Chief is a surprisingly decent firearm salesman, it’s a little odd that one of America’s most prolific gun manufacturers might soon be facing an agonizing financial death. But, that’s exactly where Colt is headed if things don’t change drastically. It takes a very specialized form of failure for a gun company to miss out on the Obama-inspired run on guns, the “assault weapon” craze of the 2000’s, and the proliferation of Concealed Carry in the 1990’s, but that’s exactly what happened. And, worse, this isn’t Colt’s first foray into fiscal failure. In fact, this...
  • Obama Sues Companies for Complying with Obamacare

    12/05/2014 9:55:26 AM PST · by Kaslin · 35 replies
    Townhall.com ^ | December 5, 2014 | Michael Schaus
    What’s the easiest way to avoid getting sued by the Obama Administration? Well… If you come up with an answer, let the rest of us know. A company that has supported the President and his Affordable Care Act, is currently being sued by Obama for following the law. (Wait… “Affordable” Care Act? Can we sue Democrats for false advertising yet?)Welcome to Obama’s America. Where you can literally get sued for trying to comply with the law. (Boy… That’ll teach you.)Honeywell International Inc., and two smaller firms, are being sued for taking advantage of a specific provision in the ACA that...
  • Taking the Crony Out of Capitalism

    11/23/2014 11:54:09 AM PST · by Kaslin · 20 replies
    Townhall.com ^ | November 23, 2014 | Paul Jacob
    “What too few in Washington appreciate — and what the new Republican Congress must if we hope to succeed — is that the American people’s current distrust of their public institutions is totally justified.” So wrote Sen. Mike Lee (R-Utah) in The Federalist shortly after the big election earlier this month. “Americans are fed up with Washington, and they have every right to be.” You can say that again. When Democrats swept the 2006 mid-term elections to re-take control of the U.S. House of Representatives, it was much more a repudiation of the pork-barreling, corrupt crony behavior of that Republican...
  • How ObamaCare Turned Insurers Into Big Gov't Lovers

    11/19/2014 4:12:59 AM PST · by IBD editorial writer · 13 replies
    Investor's Business Daily ^ | 11/18/2014 | IBD Staff
    Crony Capitalism: The New York Times this week reports that ObamaCare has made strange bedfellows between the insurance industry and the federal government. Who could have imagined that?
  • GOP oil titan: Keystone’s irrelevant (Harold Hamm)

    11/15/2014 4:11:28 PM PST · by Olog-hai · 40 replies
    Politico ^ | 11/14/14 2:26 PM EST | Updated 11/14/14 8:42 PM EST | Darren Goode
    Republican oil mogul Harold Hamm says Congress is wasting its time debating the Keystone XL pipeline. “It’s not relevant at all, in my opinion. And here we are making it relevant now? Forget it,” the billionaire CEO of Oklahoma-based Continental Resources told Politoco in an interview Friday, just before the House passed a bill aimed at approving the pipeline. […] Hamm said his company, which had planned to use Keystone to ship some of its North Dakota crude, is already using other pipelines for half of its oil. And the percentage is growing. “We’re supporting other pipelines out there; we’re...
  • The Big Money Behind the Push for an Immigration Overhaul

    11/14/2014 12:23:17 PM PST · by Oldeconomybuyer · 26 replies
    New York Times ^ | November 14, 2014 | By JULIA PRESTON
    ... The White House calls — and the president’s decision itself — reflected the clout the immigrant movement has built up in recent years, as it grew from a cluster of scattered Washington lobbying groups into a national force. A vital part of that expansion has involved money: major donations from some of the nation’s wealthiest liberal foundations, including the Ford Foundation, the Carnegie Corporation of New York, the Open Society Foundations of the financier George Soros, and the Atlantic Philanthropies. Over the last decade those donors have invested more than $300 million in immigrant organizations, including many fighting for...
  • Report: Major federal lab misused contract funds

    11/12/2014 3:39:55 PM PST · by Olog-hai · 8 replies
    Associated Press ^ | Nov 12, 2014 5:50 PM EST | Susan Montoya Bryan
    Managers at one of the nation’s premier federal laboratories improperly used taxpayer funds to influence members of Congress and other officials as part of an effort to extend the lab’s $2.4 billion management contract, the U.S. Department of Energy’s Office of Inspector General said in a report Wednesday. A review of documents determined that Sandia National Laboratories formed a team and worked with consultants beginning in 2009 to develop a plan for securing a contract extension without having to go through a competitive process. That plan called for lobbying Congress, trying to influence key advisers to then-Energy Secretary Steven Chu...
  • How the Chamber beat the tea party in 2014

    11/10/2014 4:17:00 AM PST · by Timber Rattler · 42 replies
    Politico ^ | November 9, 2014 | MAGGIE HABERMAN |
    After the 2012 election, the U.S. Chamber of Commerce’s top political adviser, Scott Reed, surveyed the damage – tens of millions of dollars spent only to lose the White House and a slew of winnable Senate races — and vowed that 2014 would be different. Some $70 million and a Republican wave later, the business lobby, one of the biggest spenders in the midterm elections, is feeling very good about its return on investment. Its conclusion after 2012 — that they had to take on tea party challengers in primaries and create a more business-friendly slate of general election candidates...
  • California Obamacare cronies got paid big via no bid state contracts

    10/15/2014 1:18:55 PM PDT · by Kaslin · 5 replies
    Townhall.com ^ | October 15, 2014 | Nick Sorrentino
    <p>I feel like I have to say this every time a story like this comes out of California, and stories like these come out of California all the time.</p> <p>California’s health insurance exchange has awarded $184 million in contracts without the competitive bidding and oversight that is standard practice across state government, including deals that sent millions of dollars to a firm whose employees have long-standing ties to the agency’s executive director.</p>
  • Obama to publicly name San Gabriel Mountains a national monument today (Oct 10 2014)

    10/10/2014 11:40:42 AM PDT · by fifedom · 30 replies
    Los Angeles Times ^ | Oct 10 2014 | Louis Sahagun
    residents within and near the monument's footprint, say they've been kept in the dark about the effects of the designation, and fear that the new status will hamper growth and fire safety. (A)bout 150 people protested Monday in front of the Pasadena office of Rep. Judy Chu (D-Monterey Park). Many said they were unsure about its potential effects on private property rights, flood control and emergency services. And the San Bernardino County Board of Supervisors recently approved a resolution opposing a monument designation in its region, where there has not been a public meeting held to discuss the issues.
  • I.M.F. Takes Aim at Wall Street’s Pay System

    10/10/2014 8:00:21 AM PDT · by SeekAndFind · 7 replies
    New York Times ^ | 10/10/2014 | WILLIAM D. COHAN
    We don’t like to concede that a primary cause of the financial crisis was a Wall Street compensation system that rewarded executives, bankers and traders for taking big risks with other people’s money without holding them the least bit accountable. And because we don’t like to discuss such things in polite company, it is certainly unsurprising that six years later, not a single fundamental aspect of how Wall Street pays its top people has changed. The incentive system that handed out millions of dollars in bonuses to bankers and traders who packaged shoddy mortgages into securities and sold them as...
  • China Overtakes US As World’s Largest Economy

    10/08/2014 2:01:33 PM PDT · by SeekAndFind · 73 replies
    Daily Caller ^ | 10/08/2014
    The Chinese economy just surpassed the U.S. economy to become the world’s largest in terms of purchasing power, according to the International Monetary Fund.The IMF measures economic strength by Gross Domestic Product (GDP) in both market exchange rates and average purchasing power, the latter being where China has overtaken the U.S. with a GDP of $17.6 trillion by the end of 2014 — 16.4 percent of the world’s purchasing power. The U.S. will close out the year with a purchasing-power adjusted GDP of $17.4 trillion, or 16.2 percent of the world’s total.Financial Times predicted the change in April and illustrated...
  • Elizabeth Warren: The Secret New York Fed Tapes Confirm The Game Is Rigged

    10/02/2014 1:13:15 PM PDT · by Olog-hai · 37 replies
    Business Insider ^ | OCT. 1, 2014, 3:32 PM | Myles Udland
    Sen. Elizabeth Warren (D-Mass.), who has called for congressional hearings regarding conduct at the Federal Reserve following the ProPublica and This American Life report from last week, told NPR in an interview on Wednesday that the report, “tells us exactly what we already knew.” Warren told NPR’s Steve Inskeep that the report, “ultimately this report tells us exactly what we already knew—that the relationship between regulators and the financial institutions they oversee is too cozy to provide the kind of tough oversight that's really needed.” […] Listening to the tapes, Warren said two things jumped out: the lack of truthful...
  • 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 · 28 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...