crony capitalism

Maryland: Motorist Rights Group Sues Over Camera Data

"The town eventually responded in June 2012, demanding that Ely pay a schedule of fees for the involvement of various town employees, including $200 an hour for the town attorney. The total cost to access the documents was left open-ended. Ely is not seeking obscure or difficult to obtain records. Instead, he wants the calibration certificates and daily setup logs that must be 'kept on file' under the state's speed camera authorization statute. Already, two localities have been caught violating state law in allowing a private company to operate cameras without documenting the calibrations, as required." Continue reading →

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Tyranny For Profit

"Allan Marx is an Ordnungspolizei Obersturmfuhrer (police lieutenant) in Sebastian County, Arkansas who is pushing hard for OralTox test swabs to be used upon motorists at Fourth Amendment-free 'sobriety' checkpoints. It just happens that Marx is also a distributor for the product. Each case of OralTox swabs retails for about $300. Each case contains 25 individual tests. How many people are forced to run a single Fourth Amendment-free gauntlet in a single county on a single night? Oklahoma, North Dakota, Missouri, Michigan, Colorado, Utah and – of course – New York have already signed up." Continue reading →

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300 tonnes of radioactive water is worst leak yet at Japan’s Fukushima

"Some 300 tonnes of radioactive water is believed to have leaked from a tank at Japan’s crippled nuclear plant, the worst such leak since the crisis began, the operator said Tuesday. Tokyo Electric Power Company (TEPCO) said the leak was believed to be continuing Tuesday at Fukushima and it had not yet pinpointed the source of it. The company later said it had identified which tank was faulty but had yet to find the spot from where it was leaking. TEPCO admitted the toxic water might contaminate groundwater and flow into the Pacific Ocean 'in the longer term', but said it was working to avoid such a situation." Continue reading →

Continue Reading300 tonnes of radioactive water is worst leak yet at Japan’s Fukushima

The New Deal Origins of Fannie Mae and the Government-Housing Complex

"Fannie Mae is a classic crony capitalist progeny of the New Deal that began life in 1938, quite innocently, as still another ad hoc New Deal program to boost the depression-weakened housing market. It grew into something quite different: a monster that deeply deformed and corrupted the nation’s entire financial system seventy years later. The policy aim of Fannie Mae was 'forcing water to flow uphill' in the residential mortgage market so that low-rate thirty-year home mortgages became available to wage-earning households of modest means. Such mortgages did not then exist for a good reason: they were not economic." Continue reading →

Continue ReadingThe New Deal Origins of Fannie Mae and the Government-Housing Complex

Watchdog: Fannie, Freddie should be required to recognize bad mortgages ‘immediately’

"Fannie Mae and Freddie Mac are masking billions of dollars losses because of the level of delinquent home loans they carry, a federal watchdog said, and it said the companies should be required immediately to recognize the costs of some bad mortgages. Fannie Mae and Freddie Mac were seized by the U.S. government in September 2008 as rising mortgage losses threatened them with insolvency. The mortgage companies have cost taxpayers almost $188 billion to stay afloat. Fannie and Freddie have reduced their funds reserved to cover potential losses on bad loans due to the strengthening housing sector and higher home prices." Continue reading →

Continue ReadingWatchdog: Fannie, Freddie should be required to recognize bad mortgages ‘immediately’

TV’s Unnatural Monopolies

"The big loser in the battle between Time Warner Cable and CBS is not the cable company, the network or the viewers who lost access to their favorite shows. The big loser is Washington, whose efforts to regulate what used to be called television grow more futile with every new video technology. The absurdity of the current laws is clear: A regulatory system designed to keep local broadcasts available to viewers is causing disputes between cable companies and broadcasters, leading to the very blackouts the regulations were supposed to prevent. It's past time to deregulate video distribution." Continue reading →

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Lawmakers travel the world on lobbyists’ dime

"Lately, the number of privately financed trips offered by corporate interests, lobbyists, universities and foreign governments, including China, have been rising. Trips this year so far total 1,363, at a cost to the hosts of $3.2 million. Bill Allison, editorial director of the Sunlight Foundation, said the best arrangement would be to conduct all lawmaker travel 'on the taxpayer’s dime.' Lawmakers have traveled to a variety of locales this year on trips paid for by private groups and foreign governments, with Turkey the top destination so far, followed by Israel. Lawmakers stress the travel’s fact-finding nature." Continue reading →

Continue ReadingLawmakers travel the world on lobbyists’ dime

Unease at Clinton Foundation Over Finances and Ambitions

"The Clinton Foundation had become a sprawling concern, supervised by a rotating board of old Clinton hands, vulnerable to distraction and threatened by conflicts of interest. It ran multimillion-dollar deficits for several years, despite vast amounts of money flowing in. And concern was rising inside and outside the organization about Douglas J. Band, a onetime personal assistant to Mr. Clinton who had started a lucrative corporate consulting firm — which Mr. Clinton joined as a paid adviser — while overseeing the Clinton Global Initiative, the foundation’s glitzy annual gathering of chief executives, heads of state, and celebrities." Continue reading →

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Who Gave Hollywood’s Representatives the Same Exact DMCA Question?

"The Subcommittee on Courts, Intellectual Property, and the Internet (a part of the House Judiciary Committee) held hearings on the role of technology as it relates to content creation and copyright. In the span of less than 15 minutes, two separate representatives -- both representing parts of Los Angeles, asking questions one after the other asked THE IDENTICAL question to a panelist. Sure looks like someone is feeding them their questions, but next time they might want to keep track of who they told to ask their misleading question...." Continue reading →

Continue ReadingWho Gave Hollywood’s Representatives the Same Exact DMCA Question?