crony capitalism

Ex-Sen. Ben Nelson Cashes in on his Obamacare Vote

"Sen. Ben Nelson delivered a crucial vote to pass Obamacare into law in 2009, and now he is cashing out of the Senate to make money off the organizations that benefitted from the legislation. Nelson's last day as a senator was Jan. 3, and on Jan. 22 he announced he had taken two jobs on K Street. Nelson's second K Street job, CEO of the National Association of Insurance Commissioners, might not even exist without Obamacare. Obamacare mentions the NAIC 18 times. Some provisions of the law basically delegate regulatory power to the NAIC. Now, with Ben Nelson on the payroll, the NAIC can be even more confident it will get its wishes." Continue reading →

Continue ReadingEx-Sen. Ben Nelson Cashes in on his Obamacare Vote

How Much of a Revolving Door Crony is the New Obama Appointee for Head of the SEC?

"White's current spin through the revolving door is not her first. As I reported, White has, 3 separate times, worked at the high-powered law firm, Debevoise & Plimpton. She split those gigs up with revolving door government jobs. Translation: Total establishment revolving door operative. The unprincipled crony left doesn't mind because, and this also seems to be lost on Taibbi, with Obama as president the crushing by White, in her new SEC position, will be focused on the non-connected. It won't be the banksters. White targets will be many of others the left will love to go after." Continue reading →

Continue ReadingHow Much of a Revolving Door Crony is the New Obama Appointee for Head of the SEC?

Timothy Geithner Accused Of Alerting Banks To 2007 Interest Rate Cut For 2nd Time

"In the summer of 2007, as storm clouds gathered over the world's financial system, then-New York Federal Reserve President Timothy Geithner allegedly informed the Bank of America and other banks about the possibility the U.S. central bank would lower one of its critical interest rates, according to a senior Fed official. Jeffrey Lacker, the head of the Richmond Fed, originally raised the allegation during a Fed conference call in August 2007, and he stuck to his 5-year-old claim against the current U.S. treasury secretary in a statement provided to Reuters on Friday." Continue reading →

Continue ReadingTimothy Geithner Accused Of Alerting Banks To 2007 Interest Rate Cut For 2nd Time

Government to Dispose of Radioactive Waste By Putting It In Our Silverware

"The Department of Energy – the agency which is responsible for the design, testing and production of all U.S. nuclear weapons, promotes nuclear energy as one of its core functions, which has been covering up nuclear accidents for decades, and has used mutant lines of human cells to promote voodoo, anti-scientific arguments – proposes letting radiation into our silverware." Continue reading →

Continue ReadingGovernment to Dispose of Radioactive Waste By Putting It In Our Silverware

The Road to Debt-Serfdom

"The road to debt-serfdom is paved by the banks and enforced by the Central State. If there is any point that is lost on ideologues, Progressive and Conservative alike, it is this: the first-order servitude and second-order tyranny of debt-serfdom can only occur if the banks' power is extended and protected by an expansive Central State." Continue reading →

Continue ReadingThe Road to Debt-Serfdom

Authoritarian regimes use Silicon Valley software to censor Internet

"Authoritarian regimes around the world are using technology from a Silicon Valley firm for Internet surveillance, filtering and censorship, according to a report by Canadian researchers. The report this week from the University of Toronto’s Citizen Lab said devices from California-based security firm Blue Coat Systems were being used in China, Russia, Venezuela and other countries with 'a history of concerns over human rights.'" Continue reading →

Continue ReadingAuthoritarian regimes use Silicon Valley software to censor Internet

Whole Foods CEO: Obamacare-Fascism Comparison Won’t Hurt Profits

"The CEO earlier this week criticized President Barack Obama’s health care reform law, saying 'it's more like fascism,' and that the government controls 'the means of production' in health care. Mackey later said in a segment on HuffPost Live on Thursday that he regretted comparing Obamacare to 'fascism,' despite remaining skeptical of Obama’s plan. 'I regret using that word now because it's got so much baggage attached to it,' Mackey said. 'Of course, I was just using the standard dictionary definition.'" Continue reading →

Continue ReadingWhole Foods CEO: Obamacare-Fascism Comparison Won’t Hurt Profits

Government Crony Madness In Action (Wind Farm Edition)

"Wind farms in the Pacific Northwest -- built with government subsidies-- are now getting paid to shut down as the federal agency charged with managing the region's electricity grid says there's an oversupply of renewable power at certain times of the year. Note the part of the explanation in the clip below where it is stated that the problem is too much energy being generated because of melting snow. Econ 101 teaches that there is no such thing as oversupply, i.e. 'too much' supply. Over supply can only occur when there are price controls in existence, above market prices. So what is really going on here?" Continue reading →

Continue ReadingGovernment Crony Madness In Action (Wind Farm Edition)