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Keyword: cronycapitalism

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  • GameStop Saga Shows that Crony Capitalism Is Alive and Well

    02/03/2021 9:13:31 AM PST · by Kaslin · 13 replies
    Townhall.com ^ | February 3, 2021 | Bob Barr
    Once upon a time, stock trading served as a way for businesses to raise capital and for traders to make investments. If companies flourished, stocks rose and investors made money; if not, stocks fell and investors lost money. This was the way the stock market was intended to function. Over time, however, more and more rules and regulations were added, each to address something that at the time was thought necessary to prevent cheating and manipulation. Just like the proverbial “Road to Hell,” Wall Street became paved with regulatory good intentions. Instead of eradicating cheating, manipulation, and fraud every new...
  • 2020: The Year of Crony Capitalism and Corporatist Corruption

    In 2020, however, there were no positive results of the government’s sale of favors and corporatist policies. Millions are still out of work, not because they were bad employees, but because the government wouldn’t and still won’t let them work. Small businesses, the backbone of the American economy and our middle class, were devastated by government lockdown policies. And when the government did try to “help,” namely through the Covid relief bills, the main result was even more corruption and cronyism. Special interests received billions and average Americans were left with crumbs. And what did we gain from that? Nothing...
  • Chelsea Clinton's IAC Stock Is Now Worth More Than $ 10 Million

    06/19/2020 8:45:03 PM PDT · by Freedom of Speech Wins · 27 replies
    Barron's ^ | 6/18/20 | Ed Lin
    IAC/InterActiveCorp stock has rebounded from a March low set when volatility from the coronavirus pandemic roiled the market. The portfolio of internet brands has resumed crushing the S&P 500 index, boosting the value for shareholders including IAC director Chelsea Clinton. IAC stock (ticker: IACI) sports a year-to-date net gain of 17.3% compared with a 3.3% drop in the S&P 500. Shares set a record high of $293.79 on Wednesday before closing at $292.32, more than double the March 23 intraday low of $124.60, a level that IAC... https://www.barrons.com/amp/articles/chelsea-clinton-iac-stock-worth-10-million-51592407653
  • Should Bailouts go to Government Contractors?

    05/25/2020 1:34:50 PM PDT · by Kaslin · 18 replies
    Townhall.com ^ | May 25, 2020 | Rachel Alexander
    People are becoming outraged upon discovering the types of businesses and organizations that are receiving COVID-19 bailouts through the CARES Act and subsequent legislation. Left-leaning media outlets are receiving millions of dollars. The Kennedy Center for the Performing Arts in Washington was given $25 million. Elite universities like Harvard got the bailout money. After public outcry, Harvard, Stanford and a few of the other universities returned the money. Even the Los Angeles Lakers received millions, but they also returned it. Planned Parenthood affiliates improperly received $80 million and now the government wants it back. There’s another category of businesses receiving...
  • It's Time to Let the Crony Export-Import Bank Die

    11/16/2019 5:06:12 PM PST · by Tolerance Sucks Rocks · 16 replies
    Real Clear Markets ^ | November 12, 2019 | Michael Lambert
    The Export-Import Bank – the poster child for corporate welfare – was due to expire at the end of September. But it has been given a temporary reprieve while congressional leaders plot to renew it on the sly by attaching it to a must-pass spending bill, meaning the bank will never get the scrutiny taxpayers deserve. Ex-Im subsidizes export transactions using sweetheart terms – including below-market-rate loans – that are backed by the American taxpayer. According to the bank’s website, the agency provides financing when “private sector lenders are unable or unwilling to” and “assumes credit and country risks that...
  • Sen. Mike Lee’s America: Indian Firm in Chicago Paid Employees India-level Wages, Took Jobs...

    09/26/2019 9:48:31 AM PDT · by Freedom56v2 · 22 replies
    Breitbart ^ | 09.22.19 | Neil Munro
    An Indian-run company in Chicago illegally imported Indian graduates — and paid them Indian-level wages — to help snatch jobs from American graduates. The fraud exploited loopholes in the B1 visas, which are reserved for managers and trainees according to a press statement by the Department of Homeland Security. snip The bill, S.386, dangles the huge prize of valuable green-cards to millions of Indian graduates if they take middle-class jobs from college-graduate Americas. snip Lee S.386’s bill would offer up to 140,000 green cards each year — up from roughly 20,000 now — to Indian graduates who accept low wages...
  • Sen. David Perdue OKs Silicon Valley Takeover of College Graduate Job Market

    09/25/2019 7:36:18 PM PDT · by lone star annie · 97 replies
    Breitbart ^ | Neil Munro
    Sen. David Perdue (R-GA) now supports Sen. Mike Lee’s (R-UT) green card giveaway bill, which will allow investors to reward many more Indian graduates for taking middle-class jobs from American college graduates. Perdue’s decision to end his opposition to the bill clears the way for Lee to rush his bill through the Senate on Thursday. If no other senators object, Lee’s bill will move through the Senate, putting it much closer to becoming law.
  • Dobbs: Disgraceful GOP Sen. Mike Lee pushes job-stealing Green Card bill

    09/23/2019 11:28:53 AM PDT · by Freedom56v2 · 55 replies
    Biz Pac Review ^ | 09.23.19 | Zachary Leeman
    Fox Business host Lou Dobbs has gone after Utah Sen. Mike Lee for supporting a bill that would lift per-country gaps on permanent residency. The bill was ultimately blocked in the Senate. Dobbs described the bill as an “absolute dream” for outsourcers on “Lou Dobbs Tonight.” The bill's called the Fairness for High Skilled Immigrants Act. “It would remove green card limits on workers from other countries,” said Dobbs, “but what that means is big countries like India and China principally would overwhelm the H1B visa list, and guess what? They would be taking American jobs at lower pay, historically...
  • LEE IACOCCA: AMERICAN CRONY "CAPITALIST"

    07/05/2019 7:46:08 AM PDT · by SeekAndFind · 45 replies
    The Mises Institute ^ | 07/05/2019 | Ryan McMaken
    Few people who write for the news media — most of whom have only ever studied journalism or "mass communications" — know much about markets or entrepreneurship. Thus, it's not difficult to understand by people who are not entrepreneurs or capitalists get labeled at such in newspapers and on TV... Few people who write for the news media — most of whom have only ever studied journalism or "mass communications" — know much about markets or entrepreneurship. Thus, it's not difficult to understand by people who are not entrepreneurs or capitalists get labeled at such in newspapers and on TV...
  • Supreme Court to hear cases over ACA risk-corridor funds

    06/25/2019 5:07:57 PM PDT · by spintreebob · 22 replies
    Modern Healthcare ^ | 6-24-19 | Shelby Livingston
    The U.S. Supreme Court said on Monday it will take up cases over whether the federal government must pay billions of dollars to health insurers that sold coverage on the Affordable Care Act exchanges. The Supreme Court will consider whether the government had an obligation to pay private health insurers under the so-called "risk corridor" program that was meant to offset insurer losses in the early years of the ACA exchanges. That three-year program has ended, but health insurers argue the HHS owes them more than $12 billion in unpaid funds. The Supreme Court will hear three consolidated cases during...
  • Tesla is at Risk of Bankruptcy if the Stock Falls by 20%

    05/23/2019 1:36:36 AM PDT · by 867V309 · 16 replies
    americanthinker.com ^ | May 23, 2019 | Chriss Street
    Morgan Stanley’s auto analyst Adam Jonas warned on Wednesday that the “bear case” for Tesla is a stock price of $10.
  • Over 20,000 Sign Petition to Stop Starbucks From Coming to Yosemite

    01/25/2018 1:45:22 PM PST · by nickcarraway · 30 replies
    NBC Bay Area ^ | Jan 24, 2018
    A spokesman for Yosemite said they are simply trying to meet the demands of visitorsNearly 23,000 people have signed a petition expressing "deep dissatisfaction" with the decision to open a Starbucks at Yosemite National Park. The Starbucks, which is slated to open this spring, would not be a freestanding store but rather part of a food court attached to Yosemite Lodge. Online protesters say they are concerned that the arrival of Starbucks at one of America's oldest and most venerable national parks would open the door to other big chains. A spokesman for Yosemite said they are simply trying to...
  • Liz Warren Attempts to Win Back the ‘Deplorables’

    09/01/2018 10:23:32 AM PDT · by Twotone · 32 replies
    American Spectator ^ | August 31, 2018 | Daniel Flynn
    Senator Elizabeth Warren proposes a ban on stock ownership by members of Congress. “They can put their savings in conflict-free investments like mutual funds,” she explained last week, “or they can pick a different line of work.” Given that a greater number of Americans own stocks than homes, the proposal seems like a difficult one to implement. The fact that lawmakers generally hail from the stock-owning class, a group about as large as the middle class, complicates the matter further. “I don’t think the solution is an outright ban,” Secret Empires author Peter Schweizer, journalism’s foremost scourge of political corruption,...
  • Crony Developments

    06/06/2018 4:55:33 AM PDT · by Kaslin · 1 replies
    Townhall.com ^ | June 6, 2018 | John Stossel
    "Are you on the take?" When I tried to get Edgewater, New Jersey, politicians to answer that question, the mayor wouldn't discuss it, ultimately telling me, "You may sit down." The town of Edgewater is right across the Hudson River from Manhattan. Anyone fortunate enough to live there gets a spectacular view of New York City's skyline. But the Edgewater city government wants to seize a choice piece of waterfront land for itself. The spot in question is owned by a developer, the Maxal Group. Maxal bought the property for about $26 million and then spent millions more to clean...
  • Tighter Regulation Would Probably Make Facebook More Profitable

    04/13/2018 11:27:03 AM PDT · by Kaslin · 7 replies
    Townhall.com ^ | April 13, 2018 | Jonah Goldberg
    Here's a bet: Congress will end up "cracking down" on Facebook with "tough" regulations that Facebook will probably protest quite vigorously. And then Facebook profits will go up. Mark Zuckerberg, the founder and CEO of Facebook, withstood two days of questioning in Congress this week. You could tell Zuckerberg took it very seriously, not least because he shed his traditional T-shirt and hoodie in favor of a grown-up suit. Again and again, he was asked whether he was opposed to regulation. "You embrace regulation?" asked Sen. Lindsey Graham (R-SC). "I think the real question, as the internet becomes more important...
  • Our Corporate Masters

    03/25/2018 5:36:57 AM PDT · by Kaslin · 4 replies
    Townhall.com ^ | March 25, 2018 | DerekHunter
    There’s a common misconception that businesses support Republicans and oppose Democrats because Democrats want the government to interfere with the free market, and businesses just want the government to leave them alone. Reality is exactly the opposite. When I first moved to Washington I thought the same thing, then I worked in and around it. The dirty little secret is most businesses love government interfering with their industries. It seems counterintuitive, but it’s true. A large percentage of the regulations that govern most industries are written, at least in part, not to protect consumers but to protect those businesses from...
  • Bush Bucks: How Public Service and Corporations Helped Make Jeb Rich

    10/19/2017 10:15:18 PM PDT · by Be Careful · 10 replies
    WND ^ | 11/6/15 | Jerome Corsi
    In the eight years since he left the Florida governor’s mansion, Jeb Bush has raked in nearly $30 million. Who paid him and for what? And what “services” did Bush perform for those who gave him millions?
  • Poll: Most Would Welcome New Amazon Headquarters

    10/17/2017 2:18:10 AM PDT · by 2ndDivisionVet · 17 replies
    Morning Consult ^ | October 17, 2017 | Joanna Piacenza
    U.S. adults disregard potential negative impact of Amazon's presence Time is running out for cities to submit their bids to become Amazon.com Inc.’s second home. The tech giant announced plans last month to open up a second headquarters — and its hunt for a host city. Bids from metropolitan areas are due Thursday. There are plenty of willing contestants: Mayors across the country have launched viral-worthy campaigns enticing Amazon to choose their cities, with the winner set to be announced sometime in 2018. A Sept. 29-Oct. 1 Morning Consult survey found that 72 percent of a national sample of 2,201...
  • Suit: Tesla, other automakers used illegal foreign workers to build plants

    09/18/2017 10:15:04 AM PDT · by Oldeconomybuyer · 20 replies
    San Jose Mercury-News ^ | September 18, 2017 | By LOUIS HANSEN
    Widening earlier claims of immigration fraud at the Tesla factory, a recently unsealed whistleblower suit says several other major automakers, including Mercedes-Benz, BMW and Volkswagen, illegally used foreign construction workers to build their U.S. factories. The charges expand on an investigation by this news organization last year into foreign construction workers building Tesla’s paint shop in Fremont. The federal suit charges that the carmakers used hundreds of Eastern European workers on suspect visas hired through subcontractors for the German company Eisenmann. The investigation, “The Hidden Workforce Expanding Tesla’s Factory,” and court documents revealed at least 140 foreign workers on questionable...
  • Elon Musk Is A Very Creative Crony Capitalist

    08/08/2017 4:04:19 AM PDT · by EyesOfTX · 9 replies
    DB Daily Update ^ | 8.8.2017 | David Blackmon
    Elon Musk is a very creative guy. We all know it, and often admire it. He’s the guy who’s going to colonize Mars, the guy who’s going to roof your house with solar shingle and pave highways with solar pavers. He’s also the guy who is now bringing us the Tesla 3 electric motor car, his new, more compact and sporty model for which he claims to have already received 500,000 orders. It’s all so wonderful, and his giant PR operation issues about 27 press releases a week bragging about his every move. Well, ok, not quote every move. Here’s...