crony capitalism

Brazilian authorities face fresh protests against government corruption despite concessions

"Authorities in Sao Paulo and Rio, Brazil’s two biggest cities, canceled the transit fare hikes that had been the initial spark for two weeks of nationwide protests. But there is no sign that the movement, which has no political coloration and no clearly identified leadership, is about to lose steam. Initially ignited by the fare increases, the protest fed on widespread resentment at the billions of dollars the government is spending on the Confederations Cup, the World Cup and the 2016 Summer Olympics. The demonstrators instead want higher funding for education and health and a cut in salaries of public officials, railing against rampant corruption within the political class." Continue reading →

Continue ReadingBrazilian authorities face fresh protests against government corruption despite concessions

Attempted Land Grab Ends With Voters Booting Entire City Council

"Government officials like to use eminent domain for the convenience of their preferred policies and/or the enrichment of themselves and their buddies. Usually, they get away with it, because the folks on the receiving end are too few and powerless to hold their tormentors to account. In Hackensack, New Jersey, however, the officials who targeted Michael Monaghan's property for seizure as part of an 'area in need of redevelopment,' even while denying him the right to develop it himself, pushed too many people around, too often. Last month, voters booted out the entire city council." Continue reading →

Continue ReadingAttempted Land Grab Ends With Voters Booting Entire City Council

Teens Start Rental Car Company, Get Sued By City Of San Francisco For ‘Unfair Business Practices’

"Said three teenagers to themselves last year: 'Yeah, sure, we could go to college. But wouldn’t it be more fun to up-end the airport rental car business?' The idea was this: At every major airport, acres of cars sit idle, left parked by owners who have jetted off. Why couldn’t these same cars be rented to arriving travelers? Rates could be dramatically cheaper than those charged by traditional car rental companies, since, under this model, the rental company wouldn’t have to pay for or maintain the fleet. It’s easy to see how traditional rental companies might not be amused to have their prices undercut. But San Francisco International is crying foul, as well." Continue reading →

Continue ReadingTeens Start Rental Car Company, Get Sued By City Of San Francisco For ‘Unfair Business Practices’

Louisiana: Cops Used Red Light Cameras For Personal Profit

"Police officers in New Orleans, Louisiana filled their own pockets with red light camera cash by setting up a private company to 'review' photo citations off the official clock. The city's inspector general, E. R. Quatrevaux, on Friday released a report documenting how Edwin Hosli, the New Orleans Police Department's (NOPD) 8th District commander, formed his own limited liability company called Anytime Solutions to take advantage of the lucrative business opportunity. Hosli pulled down $7420 from the arrangement for himself. Hosli and several other officers overbilled ACS by $9075. Hosli's share of that was $2055, according to the documents." Continue reading →

Continue ReadingLouisiana: Cops Used Red Light Cameras For Personal Profit

Rio police tear gas thousands at protest demanding health care and education

"Police deployed tear gas and rubber bullets to disperse around 3,000 protestors from outside Rio de Janeiro’s Maracana stadium ahead of the Confederations Cup match between Italy and Mexico on Sunday. The demonstrators were attempting to enter the stadium in protest at the vast sums of money spent on the organisation of the tournament and next year’s World Cup, which Brazil is also hosting. 'I don’t care about the World Cup — I want health and education!' chanted protestors. The start of the competition has been marked by protests over the huge cost of preparations to host the World Cup, which is expected to reach $15 million (11 billion euros)." Continue reading →

Continue ReadingRio police tear gas thousands at protest demanding health care and education

European defense contractors ask governments to launch drone programs

"Three top European defence firms called on Sunday on governments to launch a programme to manufacture drones that European countries are currently having to buy from Israel or the United States. France’s Dassault Aviation, European aerospace giant EADS and Italy’s Finmeccania argued such a joint programme would 'support the capability needs of European armed forces while optimising the difficult budgetary situation through pooling of research and development funding'. They said they were prepared to work together on the creation of a European drone which allows surveillance of vast areas over 24 hours." Continue reading →

Continue ReadingEuropean defense contractors ask governments to launch drone programs

Bill Gates Buys into Massive Security and Prison Management Company

"The Bill & Melinda Gates Foundation Trust and Cascade Investment, an asset management firm owned by Bill Gates, increased their combined holding in G4S to 3.2 percent last week. G4S is the world's largest securities firm and which runs services such as cash transportation and prison management in over 125 countries. According to their web site, they have more than 50,000 employees across the United States and Canada. alone. Worldwide, G4S has around 657,000 employee. G4S services include providing supplies security equipment and services for use at Israeli prisons, checkpoints and settlements in the West Bank." Continue reading →

Continue ReadingBill Gates Buys into Massive Security and Prison Management Company

Missouri Appeals Court Strikes Down St. Louis Red Light Camera Ordinance

"Missouri's second-highest court on Tuesday ruled the St. Louis municipal ordinance authorizing the use of red light cameras is invalid. St. Louis adopted the photo ticketing ordinance in 2005, without the permission of the state legislature. American Traffic Solutions (ATS), the private company in charge of the program, began issuing $100 red light camera tickets in 2007. The measure presumes the owner of the vehicle is always the person driving it, which allows the city to prosecute the owner through the mail with penalties of up to $500 and ninety days in jail." Continue reading →

Continue ReadingMissouri Appeals Court Strikes Down St. Louis Red Light Camera Ordinance

Bill Bonner: What the Papers Aren’t Reporting About the NSA Scandal

"Booz Allen earned $1.3 billion pretending to protect approximately nobody from a mostly non-existent threat. What it was actually doing was helping the feds snoop on the law-abiding people who pay the bills. The company shareholders get rich. Its executives get rich. Ex-public servants walk through the revolving door into the company's plush offices... and they get rich too. What's not to like? And who's going to oppose more anti-terrorism spending? But wait, there's more!" Continue reading →

Continue ReadingBill Bonner: What the Papers Aren’t Reporting About the NSA Scandal

America’s private prison system is a national disgrace

"Since 1980, the US prison population has grown by 790%. We have the largest prison population of any nation in the history of the world. One in three African-American men will go to jail at some point in his life. Imprisoning that many people, most of them for non-violent offenses, doesn’t come cheap, especially when you’re paying private contractors. The United States now spends $50bn on our corrections system every year. Much of that money goes to private contractors, who are doing quite well living off of American corporate welfare – at the expense of the American taxpayer, whose dollars are funding this mass incarceration project." Continue reading →

Continue ReadingAmerica’s private prison system is a national disgrace