Download e-book for iPad: Crony Capitalism in America: 2008-2012 by Hunter Lewis

By Hunter Lewis

A bit approximately it:
"We see it everywhere:
• shady zoning laws in a small town;
• taxpayer cash diverted into political campaigns;
• bargains that enhance the few on the rate of the many;
• billion-dollar bailouts;
• trillions of newly revealed money flowing from govt to Wall highway at giveaway curiosity rates;
• brand-name economists employed to protect the indefensible with a smokescreen of monetary theory.

When deepest pursuits want a political prefer, they comprehend whom to name. while politicians want funds, in addition they comprehend whom to name. the folks concerned attempt to preserve so much of it hid in the back of closed doors.

This is the procedure that prevails in Russia after the autumn of Communism. yet more and more it truly is America's approach as well.

Many humans regard Wall road because the epicenter of yankee capitalism. actually it's the epicenter of yankee crony capitalism. the place Wall road stops and Washington starts off is very unlikely to assert. this case was once no longer triggered, as many think, through the Crash of 2008. really the Crash was once attributable to the longstanding Wall Street–Washington partnership. however the challenge extends a long way past Wall road to each nook of America.

If we will do whatever approximately our current fiscal difficulties, and in addition provide the terrible an opportunity at a greater lifestyles, we'll have to cast off crony capitalism.

Although filled with hair-raising tales, this booklet is additionally approximately suggestions. It tells us in transparent and easy phrases what's wrong and what should be performed approximately it."

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Of this total, $36 billion was estimated to involve expenditures that had little or nothing to do with the hurricane, including global warming studies, additional subsidies for Amtrak, Legal Services Corp funding, even money for fisheries as far away as American Samoa. When Senate Majority leader Harry Reid decided he did not have the votes to overcome a filibuster in the Senate, he began to extend the bill to cover other states not affected by Sandy in hopes of securing at least seven more votes from Republican senators.

Zoi left Energy, she went to work for George Soros, one of the Obama administration’s and Democratic Party’s largest campaign donors. —green energy. Would some of the investments also be backed by the government employee who had succeeded Ms. Zoi? 95 24. 5 billion in loans, grants, and tax breaks went to fourteen green-tech firms in which former US vice president and green tech advocate Al Gore invested. 96 25. 98 One of the companies investigated, Abound Solar, closed its doors in the summer of 2012, leaving in its wake charges of securities fraud, consumer fraud, and financial misrepresentation.

41 The president was occasionally criticized for playing too much golf; but the golf games were important fundraising opportunities. When running for president in 2007, then Senator Obama attacked “the cynics and the lobbyists and the special interests who’ve turned our government into a game only they can afford to play. . ” In keeping with this, he promised to accept public funding of his presidential campaign, even though it would legally restrict his private fundraising. But when he saw an opportunity to out-fundraise his Republican opponent, Senator McCain, he quickly broke his promise and dispensed with public funding so that he could raise an unlimited amount of private money.

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Crony Capitalism in America: 2008-2012 by Hunter Lewis


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