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Keyword: cronycapitalism

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  • 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...
  • The Resistance Tries to Use America First Language to Suck up to Trump

    06/29/2017 8:30:33 AM PDT · by 54fighting · 2 replies
    Big League Politics ^ | 06/29/17 | Patrick Howley
    Top Democrats in Washington hate President Donald Trump and are determined to stop him. That is, until their corporate lobbying clients — like the major airlines — need to pressure Trump to get rid of “unfair competition” in their industry. Then, all of a sudden, they become populist nationalists.
  • World Offers Cautionary Tale for Trump’s Infrastructure Plan

    06/26/2017 11:14:16 AM PDT · by Tolerance Sucks Rocks · 20 replies
    The New York Times ^ | June 16, 2017 | Peter S. Goodman
    LONDON — The rest of the planet bears a warning for President Trump’s plan to lean heavily on private business in conjuring a trillion dollars’ worth of American infrastructure: Handing profit-making companies responsibility for public works can produce trouble. In India, politically connected firms have captured contracts on the strength of relationships with officialdom, yielding defective engineering at bloated prices. When Britain handed control to private companies to upgrade London’s subway system more than a decade ago, the result was substandard, budget-busting work, prompting the government to step back in. Canada has suffered a string of excessive costs on public...
  • Cronyism Kills Capitalism

    05/31/2017 11:15:05 AM PDT · by Sean_Anthony · 7 replies
    Canada Free Press ^ | 05/31/17 | Megan Barth
    Cronyism is alive and well in the Swamp. “We The People” who resoundingly voted to “Drain the Swamp” will lose if the status quo is allowed to win. “Status quo, you know, is Latin for ‘the mess we’re in’.”—Ronald Reagan Crony capitalism is defined as an economic system characterized by close, mutually advantageous relationships between business leaders and government officials. Many of our nation’s biggest companies come to the Washington Swamp, to hire lobbyists to preserve tax breaks, to use the power of government for competitive reasons or to secure government money for corporate projects. And Elizabeth Warren is happy...
  • Are Collapsing Pensions "About To Bring Hell To America"?

    03/16/2017 9:54:04 AM PDT · by Perseverando · 20 replies
    Zero Hedge ^ | March 16, 2017 | Authored by Mac Slavo via SHTFplan.com,
    The toxic dollar is bringing hell in a handbasket. Along with the student loan debt bubble and other major financial factors, the looming pensions crisis is bound to be the death of us all. Because it’s based on a future promise to pay, it has long been a benefit dangled to solve strikes and union disputes – because, in the end, it is just more debt, whether private or public. With tens of trillions in unfunded liabilities, the weight of an avalanche remains dangling over our heads. An aging population is cashing in on needed retirement benefits while the younger...