Keyword: cronycapitalism

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  • First Solar's Crony Socialism is a Big Failure

    06/07/2012 1:18:44 PM PDT · by jazusamo · 3 replies
    National Legal & Policy Center ^ | June 7, 2012 | Paul Chesser
    Renewable-loving Los Angeles is showing that even the power of billions of dollars in taxpayer“stimulus” cannot overcome the dominant hand of government regulation, and ironically it’s costing President Obama more green jobs. One of the darlings of the Department of Energy’s Loan Guarantee Program,First Solar, has seen itsstock price take a drubbing, laid off thousands of workers, and left its leadership – with significant influence from Walmart’sWalton family – scrambling to save the company. The latest stumble has led to another setback of worker inactivity at First Solar’s Antelope Valley Solar Ranch One project in California, approximately 75 miles...
  • The Wright Brothers Didn't need Federal Approval to Fly - Cronyism in the Air

    06/06/2012 10:14:45 AM PDT · by wewillnotcomply · 2 replies
    This is an excerpt of a new article explaining how federal regulations of the airline industry lead to cronyism, and how de-regulation was a success. By Billy Culleton Without needing federal approval, on December 17, 1903, two bicycle mechanics from Ohio made history by flying the first powered aircraft over the beaches of Kitty Hawk, marking the start of modern aviation. In the decades following the Wright Brothers’ breakthrough, commercial airline carriers emerged across the United States, saving people from the hassles of boarding dirty rail road cars and avoiding deadly automobile accidents. Recognizing the increased popularity in air travel,...
  • Why are taxpayers paying for professional sports?

    06/03/2012 3:45:28 PM PDT · by wewillnotcomply · 21 replies
    Professional sports teams are getting money from taxpayers, and it isn't anything new. The Minnesota Vikings will receive half a billion dollars from Minnesota taxpayers, as Tim Carney highlights here. Samuel Staley at the Reason Foundation's Out of Control Policy blog writes about the cronyism occurring when professional sports teams are subsidized by taxpayers, and gives several examples: Professional sports continues to be crony capitalism at its worst, using its oligopoly status to extract rents from taxpayers through elected officials. The reality is that precious little evidence exists suggesting that professional sports teams boost economic growth for cities, let alone...
  • Video: More Stuff Cronies Say

    06/01/2012 6:03:20 PM PDT · by wewillnotcomply
    New jobs report is terrible, but the cronies are doing just fine! Here's a new video showing you:
  • Solyndra --- Symbol of Failure --- new Romney Ad

    06/01/2012 11:42:04 AM PDT · by Ernest_at_the_Beach · 33 replies
    mittromney ^ | June 1, 2012 | Romney Campaign
    Published on Jun 1, 2012 by mittromney Two years ago, President Obama went to Solyndra and touted it as an example of his initiative to create jobs. Today, the company is bankrupt and the building stands empty as a symbol of the failure of President Obama's
  • Democrats squirm at Solyndra vs. Bain questions

    05/30/2012 5:46:45 PM PDT · by mandaladon · 15 replies
    The Daily Caller ^ | 30 May 2012 | Neil Munro
    Republicans are scoffing at Democrats’ attempts to explain why President Barack Obama’s failed green-tech investments are unimportant but Mitt Romney’s few failures at Bain Capital, an otherwise wildly successful private equity firm, are a scandal. Obama deputy campaign manager Stephanie Cutter tried out the new tactic during a May 30 appearance on MSNBC’s “Daily Rundown,” when she was asked about the president’s support for Solyndra. “The president’s not picking winners and losers, he’s making strategic investment to promote clean energy,” she said. “Mitt Romney’s role at Bain Capital was to make profits for his investors and for himself. … There...
  • SOLYNDRA - For Sale 47488 Kato Rd., Fremont CA (On The Chopping Block)

    SOLYNDRA For Sale Property Size Total building area is approximately 411,618 square feet (excluding mezzanine) o Manufacturing area: 287,448 square feet single story o Office building: 37,210 square feet two-story o Mechanical Electrical and Plumbing (MEP) area: 86,960 square feet usable o Expandable to 739,232 square feet Building Highlights • Highly visible world class manufacturing facility • Frontage along Interstate 880 and Kato Road • Headquarters style office area constructed to LEED Gold Standards • Construction completed in October of 2010 • The total electrical service: 22 Megawatts • Facility is backed up by 2 diesel generators each with 2...
  • Looks Like Subsidized A123 Execs Want to Cash In

    05/18/2012 11:39:25 AM PDT · by jazusamo
    National Legal & Policy Center ^ | May 18, 2012 | Paul Chesser
    As taxpayer-backed electric car battery-maker A123 Systems reported a $125 million 1st quarter loss this week and its stock price dipped to near its 52-week low, the executives that were just awarded big raises and parachutes look like they want to cash in and sell the company. Officials with the Massachusetts-based manufacturer, which received a $249.1 million grant from theDepartment of Energy but this week said the ability for the company to continue is a “going concern,” also announced they retained an outside adviser for “evaluation of strategic alternatives.” Translation: they’re looking to sell. If they are successful, A123...
  • How the Feds Created a Cronyism Car Wreck

    05/15/2012 4:05:43 PM PDT · by wewillnotcomply · 3 replies
    In 2008, the federal government bailed out two major automakers – General Motors and Chrysler, along with their financial groups that offered loans. At the time, it was said that these bailouts needed to happen to prevent a crisis, and that these auto companies would pay back the taxpayers in time.The companies got tens of billions of dollars to keep operating. Disaster averted? No. Chrysler and GM certainly benefited, but the taxpayers are now footing the bill. The Treasury Department has admitted that taxpayers will lose a staggering $14 billion from the bailout. At least, that was what they said...
  • Taxpayers Subsidize Forbes 'Green' Billionaires' Schemes

    05/15/2012 12:17:40 PM PDT · by jazusamo · 7 replies
    National Legal & Policy Center ^ | May 15, 2012 | Paul Chesser
    The three top U.S. tycoons on Forbes’s “Green” billionaires list have received billions of dollars in taxpayer subsidies for their clean technology companies, after they spent hundreds of thousands of dollars for political campaigns and lobbying. Two of the moguls, Elon Musk and Vinod Khosla (in photo), are technology pioneers based in California with net worths of $2 billion and $1.3 billion, respectively. The third, Christy Walton, is the widow of the late John Walton who was an heir to the Walmart fortune. Forbes says she is “the world’s richest woman” is worth $24.8 billion. Significant percentages of Musk’s...
  • Crony Baloney: No Free Cab Rides in North Dakota Town?

    05/12/2012 3:01:34 PM PDT · by wewillnotcomply · 13 replies
    The following is a story from Crony Chronicles, if you want similar stories updated daily visit here: story begins with two entrepreneurial women in Williston, North Dakota, who noticed that there was a shortage of cabs in their town because of the recent oil boom in the area. They decided to start two small shuttle services, with some service for locals. As the Williston Herald reported on April 2nd: “We initially intended to do the shuttle service, but until that really gets built up and people are aware, if people need rides home, we’re giving them rides home. We’re...
  • Where does government control of the economy lead? (Historical long-term unemployment)

    05/12/2012 12:30:30 PM PDT · by Jim Robinson · 39 replies
    Posted to fb by FReeper Joe Wierzbicki | May 12, 2012 | Pew Research
  • USPS's Business Failures Might Have Something to Do With Political Connections of Competitors

    05/08/2012 7:24:47 PM PDT · by Colonel Kangaroo · 19 replies
    Business Insider ^ | 4-22-2012 | Dean Baker
    A NYT article on the financial difficulties of the Postal Service concluded with a comment from Art Sackler, the chairman of the Coalition for a 21st Century Postal Service: "They haven’t had a good track record when it comes to developing new lines of business." This organization is identified as "a mailing industry group that includes companies like FedEx, said the Postal Service." It might have been worth reminding readers that FedEx and UPS have in the past used their political power to limit the ability of the Postal Service to compete with them.
  • Someone is taking on cronyism, stories and videos here

    04/30/2012 11:49:47 AM PDT · by wewillnotcomply
    With all the cronyism occurring right now, it is good to see this site, which has dozens of specific examples of cronyism occurring between business and government, and breaks it down by local and state level too. For example, not surprisingly, California has quite a few examples. Here are some recent stories there: Missouri company walks away with $2.4 million from state, cuts jobsCronyism Undermines the Beneficial Role of Business in SocietyDodd-Frank and the expansion of crony capitalismIf you like the page there is a Facebook effort too, go and support it:
  • Solyndra Was Not The Only Failure

    04/30/2012 2:30:35 AM PDT · by Cincinatus' Wife · 15 replies
    The American Thinker ^ | April 30, 2012 | Warren Beatty
    ....Obama was emphatic about how recovery money was to be spent......Eighty percent of the Department of Energy's (DOE) green loans, loan guarantees, and grants went to Obama backers.... ...In March 2011, for example, the GAO examined the first 18 loans that were approved and found that none were properly documented. ... No notes were kept during the review process..... Schweizer concludes, "DOE Inspector General Gregory Friedman......testified that contracts have been steered to "friends and family." So with all that in mind, let's turn our attention to what has actually happened since Obama took office. * SunPower, after receiving $1.5 billion...
  • Localities Get Up to $33,000 in Subsidies per Chevy Volt (Outrageous tax dollar waste)

    04/23/2012 1:03:52 PM PDT · by jazusamo · 14 replies
    National Legal & Policy Center ^ | April 23, 2012 | Mark Modica
    A report gives a good explanation for why some Florida localities are purchasing Chevy Volts. When Jacksonville's chief of fleet management, Karim Kurji, was asked what the advantage of going green by purchasing Volts was he hit the nail on the head when he replied, "Federal money." The story goes on to reveal that the total federal taxpayer money used to subsidize one Chevy Volt purchased by Atlantic Beach was over $33,000. It now appears obvious that the Obama Administration and General Motors are willing to pay just about any price, even if the taxpayers are footing the...
  • Video: Stuff Cronies Say

    I'm pretty sure this is how DC people actually talk: Stuff cronies sayWe need to stop these cronies.
  • Energy Department prepares to approve more green loans

    04/05/2012 3:15:15 PM PDT · by jazusamo · 8 replies
    The Hill ^ | April 5, 2012 | Andrew Restuccia
    The Energy Department said Thursday it expects to begin tentatively approving new taxpayer-backed loans for renewable energy projects in the coming months. The announcement comes about seven months after Solyndra, the California solar firm that received a $535 million loan guarantee from the administration in 2009, went bankrupt, setting off a firestorm in Washington. “The Department expects to begin issuing conditional commitments over the next several months after completing a rigorous internal and external review of each application,” Energy Department loan program chief David Frantz wrote to the top lawmakers on the Senate Energy and Natural Resources Committee. Frantz...
  • Fed Audit Confirms Govt. Corruption In Solyndra Deal

    04/05/2012 1:20:18 PM PDT · by jazusamo · 5 replies
    Judicial Watch ^ | April 5, 2012
    The “serious concerns” of U.S. Treasury officials involving a risky $535 million infusion for a fly by night solar panel firm were ignored as the deal was fast-tracked by the Obama Administration, according to a federal audit released this week. Bankrolled by Obama fundraiser George Kaiser, the now-defunct northern California company (Solyndra) got more than half a billion dollars from the U.S. government to promote green energy. Instead, it abruptly folded last fall, stiffing American taxpayers and laying off more than 1,000 workers. From the start, it was a controversial deal that was suspiciously rushed through for a politically-connected...
  • Which Pays Fair Share of Taxes, ExxonMobil or GM?

    04/03/2012 11:52:14 AM PDT · by jazusamo · 2 replies
    National Legal & Policy Center ^ | April 3, 2012 | Mark Modica
    One thing that I have realized about the rhetoric surrounding green energy initiatives and the proclamations by Team Obama glorifying companies like General Motors while vilifying others like ExxonMobil is that the claims and the facts are worlds apart. Voters are led to believe that evil oil companies like ExxonMobil are getting a free pass and not paying their fair share while the supposedly patriotic GM is an American success story which now contributes to society and builds miracle cars like the Chevy Volt which will free the US from foreign oil dependence. One set of facts that is...
  • Obama’s Crony Capitalism and His Top 2008 Donors

    03/22/2012 8:13:42 AM PDT · by Mikey_1962 · 2 replies
    New American ^ | 3-22-12 | Brian Koenig
    President Obama raised several hundred million dollars during the 2008 election, more than twice what Republican rival John McCain raised and a far cry more than any other U.S. President before him. The result? Obama’s fundraising achievements have ushered in a degree of crony capitalism Americans have quite possibly never witnessed before. The voluminous scale of political favoritism, and in some cases downright corruption, in the current administration has undermined taxpayers and trampled on the U.S. Constitution, as corporate bailouts, legislative kickbacks, and shady government appointments have become commonplace in the Obama White House. Crony capitalism, also referred to as...
  • President Obama's Clueless, Contemptuous Energy Speech

    03/21/2012 7:45:39 PM PDT · by SaveOurRepublicFromTyranny · 9 replies
    FORBES ^ | March 21, 2012 | Louis Woodhill
    During his speech, Obama asked (rhetorically), “…whether or not we should keep giving $4 billion in taxpayer subsidies to the oil industry.” These so-called “subsidies” consist of allowing oil companies to use the same tax depreciation rules as other companies. Being a Progressive, Obama sees no difference between allowing a profitable company to keep some of its own money and giving taxpayer money to unprofitable ventures...
  • High-speed rail about to go in reverse?

    03/21/2012 10:37:01 AM PDT · by landsbaum · 3 replies · 2+ views
    Some folks who want to undo the boondoggle also known as California’s High-Speed Rail project took a step closer to that reality yesterday when their ballot initiative was cleared to collect signatures. Republican state Sen. Doug LaMalfa and former congressman George Radanovich seek to derail the train, but now need signatures of 504,760 registered voters to qualify their measure for the November ballot. They’ve have until Aug. 13. We’re hoping they get what they need. But a few obstacles remain, and they aren’t insubstantial...
  • Rick Santorum’s camp hits Mitt Romney on Bain tenure

    03/19/2012 10:32:41 AM PDT · by Cincinatus' Wife · 118 replies
    The Washington Post ^ | March 19, 2012 | By Felicia Sonmez
    Republican presidential candidate Rick Santorum’s campaign is taking aim at rival Mitt Romney’s tenure at the helm of Bain Capital..... [SNIP] Back in January, when Perry and Gingrich were hitting the former Massachusetts governor hard on his Bain tenure, Santorum had told CNN’s Wolf Blitzer, “I hate to sit here and be a defender of Mitt Romney, but to me this is federal capitalism, and I have to say that this is an attack probably not warranted.” “Bain Capital, at least from the record I looked at, had a lot of success,” Santorum said at the time. “I mean they...
  • Class Action Filed Against Taxpayer-Backed First Solar

    03/19/2012 11:31:14 AM PDT · by jazusamo · 5 replies · 1+ views
    National Legal & Policy Center ^ | March 19, 2012 | Paul Chesser
    Securities law firms are lining up to get a piece of the action after a class action lawsuit was filed against federally subsidized First Solar, Inc., allegedly because the company failed to disclose the massive costs it was incurring due to defects in its solar panels, leading investors to believe the company’s stock was worth more than its actual value. The complaint, filed by the New York-based Pomerantz, Haudek, Grossman, & Gross law firm, claims that First Solar executives – including founder Michael Ahearn and former CEO Robert Gillette – “made false and/or misleading statements, as well as failed...
  • 10 Reasons Why Fisker May Be Worse Than Solyndra

    03/15/2012 10:36:19 AM PDT · by jazusamo · 14 replies
    National Legal & Policy Center ^ | March 15, 2012 | Paul Chesser
    Automotive and green technology advocacy Web sites areabuzz with a story about a former employee of Fisker Automotive who claims the company released its $102,000-plus Karma electric sport sedan prematurely, in order to meet targets set forth by the Department of Energy so Fisker could access funds from a $529 million loan award. This followed reports from all over the Internet that Consumer Reports purchased a Karma in Connecticut for $107,850, only to see it totally disabled before the magazine could run it through its tests. The whistleblower story originated on the pro-Clean tech Web site, and was...
  • Highway bill is worth billions to companies owned by Soros, Pickens, Douglas

    03/13/2012 12:15:17 PM PDT · by Eva · 28 replies
    Human Events ^ | 3/13/12 |
    George Soros, T. Boone Pickens, Kevin G. Douglas and companies under their control stand to reap the rewards of billions of taxpayer dollars in subsidies contained in a Democratic-sponsored measure set for a vote this week. ..The act would subsidize three different enterprises controlled by Soros, Pickens and Douglas, who consistently rank among the most generous political donors, according to Federal Election Commission Records. Moreover, HUMAN EVENTS has learned that one of these companies, Fuel Systems Solutions based in Santa Ana, Calif., has and continues to conduct business, through its foreign subsidiaries, with customers in Iran, according to the company’s...
  • Part of $11 Million in Stimulus Money to Buy Poor Job-Seekers Clothes, Helps Just 2 People

    03/08/2012 8:26:47 AM PST · by redstateone · 15 replies
    Big Government ^ | March 8, 2012 | Wynton Hall
    A portion of an $11 million grant to help 400 low-income Detroit citizens purchase "business attire" for job interviews helped exactly two people, a city audit reveals...
  • Harry Reid Signals He May Gut Insider Trading Bill

    03/08/2012 8:24:36 AM PST · by redstateone · 8 replies
    Big Government ^ | March 8, 2012 | Wynton Hall
    The bill spearheaded by Breitbart editor Peter Schweizer banning members of Congress from using nonpublic information to profit their personal investments may hit a wall in the form of Sen. Harry Reid (D-NV). On Monday, Mr. Reid indicated that he may simply accept the watered down version of the STOCK (Stop Trading On Congressional Knowledge) Act passed by the House instead of sending the bill to a conference committee to hammer out the significant differences between the House and Senate versions of the bill. “There is a decent chance that we will just take the House bill. That would be...
  • Mitt Romney: It’s not like the president can “precisely set the price at the pump”

    03/07/2012 3:31:20 PM PST · by Para-Ord.45 · 30 replies ^ | March 07 2012 | TINA KORBE
    Yesterday, Mitt Romney said he’s “not going to say outrageous things about the president.” Trouble with that statement is that “outrageous” is a pretty subjective adjective. Outrageous to whom? Apparently, Romney meant to say he’s not going to say anything about the president that would outrage the left — because he doesn’t seem to be afraid to say something about the president that would outrage the right. In fact, he did just that earlier today, when he essentially said the president shouldn’t be held responsible for the high price of gas. “I think people recognize that the president can’t precisely...
  • Al Gore Was Right About [Crony] Capitalism [Schiff more right]

    03/06/2012 4:25:07 PM PST · by Lorianne · 7 replies
    Investment U ^ | 21 February 2012 | Jeannette Di Louie
    While talking about capitalism last week, former U.S. Vice President Al Gore got it right. Sort of… On Thursday, he said this about the United States’ economic structure: “While we believe that capitalism is fundamentally superior to any other system for organizing economic activity, it is also clear that some of the ways in which it is now practiced do not incorporate sufficient regard for its impact on people, society and the planet.” Taken by itself, that statement is completely true: Capitalism is the best economic system available, and the version America has been practicing for years is badly flawed....
  • Can Taxpayer-Subsidized Battery Maker A123 Survive?

    03/06/2012 11:41:14 AM PST · by jazusamo · 11 replies
    National Legal & Policy Center ^ | March 6, 2012 | Paul Chesser
    The taxpayer-funded ($279 million) battery supplier that gave big raises and parachutes to its executives shortly after it cut “Green jobs” at its Michigan factories, reported last week it would suffer big losses again for 2011. A123 Systems , whose fortunes were entwined with those of electric vehicle startup manufacturer Fisker Automotive, also announced it would look to China and India in order to survive. A123 also received grants and tax credits from Michigan that could total more than $135 million. The company said it would realize a loss of $257.7 million for last year, compared to the $152.6...
  • GM Chevy Volt Halt Confirms Green Energy Policy Failure

    03/05/2012 8:41:18 AM PST · by jazusamo · 30 replies
    National Legal & Policy Center ^ | March 5, 2012 | Mark Modica
    I hate to beat a dead Edsel, but the Chevy Volt story is just too important to let slip away. After last week's announcement by General Motors that it would be temporarily halting production of the Chevy Volt due to low demand, you would think that the evidence would finally be conclusive that the over-hyped, over-subsidized vehicle is a flop. The response by GM and lack of same from the Obama-loving media is worthy of continued criticism from those of us who have recognized that taxpayers have been bilked out of billions of dollars to produce a car that...
  • Peter Schweizer: Big Pharma’s Role in the Contraception Debate (Obama's cronies hand is behind this)

    03/02/2012 6:45:09 PM PST · by Bigtigermike · 13 replies
    Daily Beast ^ | Friday March 2, 2012 | Peter Schweizer
    Forget for a minute the religious question and look at who wins big here: Big Pharma. This mandate is not really about condoms or generic versions of “the pill,” which are available free or cheap in lots of places. This is about brand-name birth control drugs and other devices that some consumers swear off because they are too expensive. The Health and Human Services (HHS) mandate requires health-insurance companies provide contraceptive coverage for all “FDA approved contraceptive methods.” It does not insist on generics. And it does not offer any cost containment. What’s more, the mandate prevents health-insurance companies from...
  • Chevy Volt Gas Savings: Myths and Reality

    02/29/2012 10:50:09 AM PST · by jazusamo · 17 replies
    National Legal & Policy Center ^ | February 28, 2012 | Mark Modica
    There has been much written and said about the operating costs of the Chevy Volt. Proponents and critics have both been a bit deceptive on claims about just how much the Volt can save or cost you by mostly running on an electric charge before switching to gas. gives a fairly accurate picture of the true fuel savings in a recent analysis. First, it is important to recognize that true operating cost consists of depreciation, insurance and maintenance as well as energy consumption. The high cost of the Volt puts it at an immediate disadvantage to conventionally powered...
  • Uncle Sam’s Fire Sale. Minimum Investment: $1 Billion (Crony Capitalism)

    02/22/2012 4:17:31 PM PST · by blam · 8 replies
    The Daily Reckoning ^ | 2-22-2012 | Addison Wiggin
    Uncle Sam’s Fire Sale. Minimum Investment: $1 Billion By Addison Wiggin 02/22/12 Baltimore, Maryland – In my investment letter, Addison Wiggin’s Apogee Advisory, we spend a great deal of time, money and resources looking for new investment ideas that our subscribers can act on independently. Sometimes what we find instead is outrage.For example, the federal government is about to dump millions of the foreclosed homes at fire-sale prices to hedge funds and private-equity firms with government connections. If you’re an individual investor who might like to get in on the action, forget it! You’re shut out of this deal. Homeowners...
  • GE Steps Up Support for GM Chevy Volt Folly (Excellent piece)

    02/20/2012 12:27:26 PM PST · by jazusamo · 49 replies · 1+ views
    National Legal & Policy Center ^ | February 20, 2012 | Mark Modica
    Last week, reported that crony corporation, General Electric, will be purchasing only Chevy Volts for employee use. The move will help General Motors proclaim that the Volt is a success (and help ensure that GE sells more charging stations) as thousands of orders for the vehicle hit the books, conveniently timed to coincide with the run up to the 2012 presidential election. The Volt has not caught on with the majority of consumers as the benefits of traveling 20 to 45 miles on an electric charge before getting about 30 miles per gallon on premium fuel do not...
  • GE Employees Get Chevy Volt Electric Cars, All-Gas Use OKed Sometimes

    02/16/2012 9:36:48 AM PST · by jazusamo · 38 replies
    Green Car Reports ^ | February 16, 2012 | John Voelcker
    Sixteen months ago, General Electric announced it would place the "largest order in history" for electric cars , to be used by its employees who are issued company cars. Now, those cars are starting to arrive and be placed with employees. And where changes are made, personnel policies are sure to follow. A person inside GE recently forwarded a memo to us that covers some of the nuts and bolts of using the 2012 Chevrolet Volt range-extended electric car. It's from the fleet operations manager for GE Healthcare. Among the interesting points: "All sedans ordered in 2012 will be...
  • LightSquared Fiasco Puts Harsh Spotlight on FCC's Genachowski

    02/15/2012 9:49:46 AM PST · by jazusamo · 24 replies
    National Legal & Policy Center ^ | February 15, 2012 | Peter Flaherty
    In a major victory for the National Legal and Policy Center, the Federal Communications Commission (FCC) yesterday reversed itself and revoked a controversial waiver it had granted LightSquared, which would have allowed the company to deploy a national wireless network. The reversal is not only a major setback for LightSquared's billionaire owner Phil Falcone, but puts a harsh spotlight on the role of FCC Chairman Julius Genachowski. According to Cecelia Kang of the Washington Post Tech blog : The FCC's decision is expected to all but end LightSquared's aspirations to provide mobile broadband services via satellite airwaves -- a...
  • Obama’s Refi Plan Is Another Bank Bailout, Stockman Says: “The Worst Kind of Crony Socialism”

    02/07/2012 1:01:31 PM PST · by Hojczyk · 3 replies
    Yahoo Finance ^ | February 7,2012 | Aaron Task
    In his State of the Union address last month, President Obama outlined "a plan that gives every responsible homeowner the chance to save about $3,000 a year on their mortgage, by refinancing at historically low interest rates." Despite stern opposition from Congressional Republicans, the President is still pushing for the plan, which calls for the Federal Housing Administration to take on the risks of the new mortgages created by the mass refinancing. The President says the plan will be paid for by "a small fee on the largest financial institutions [and] give banks that were rescued by taxpayers a chance...
  • Another ad smartly attacks the president on Solyndra

    02/01/2012 3:08:56 PM PST · by Ernest_at_the_Beach · 5 replies
    Hot Air ^ | February 1, 2012 | Tina Korbe
    While Mitt Romney and Newt Gingrich savage each other and just as Rick Santorum releases his own hard-hitting ad against Gingrich, Karl Rove’s nonprofit Crossroads GPS keeps the focus on Barack Obama with a $500,000 weeklong ad buy on national cable.As Ed wrote when the group released its first ad, anybody interested to defeat Obama needs to keep the attacks on his crony capitalism coming. It’s not just that it’s an easy target. His tendency to reward insiders is also revealing of his overall preference for government interference. This is a president who by his actions suggests he thinks government...
  • RESTORE OUR FUTURE Contributors (Romney's PAC)

    01/31/2012 9:08:26 PM PST · by re_nortex · 10 replies · 1+ views
    Federal Election Commission ^ | Tue Jan 31 23:45:30 2012 | Web Author
    The list of contributors for Romney's PAC, RESTORE OUR FUTURE, INC., is shown in the referenced link. The total, as of this posting, is $17,947,952.77.
  • ON FIRE: Paul Ryan Completely Dismantles Obama on FNS [Budget? It's All Elementary, Mr President!]

    01/30/2012 9:30:10 AM PST · by fight_truth_decay · 9 replies
    Fox Nation ^ | January 30, 2012 | OnFire staff
    'The irony of this is the president’s policies do the exact opposite. We basically have this. The president can't run on his record. It’s a miserable record. He is not going to change his tune and moderate like say Bill Clinton did in 1996 because he’s really stuck with his ideology so he has no choice but to divide. So he is going to run a very decisive campaign for political gain and he has this concept of fairness and equality where he uses the kind of rhetoric we use, but the policies he's producing will result in crony capitalism...
  • Romney Supervised Medical Testing Company Guilty Of Massive Medicare Fraud

    01/24/2012 3:59:01 AM PST · by Laissez-faire capitalist · 8 replies
    Forbes ^ | 1/21/2012 | Rick Ungar
    In 1989, Bain Capital purchased controlling interest in Damon Corporation, a medical testing company located in Needham, Massachusetts. During the time that Bain held its ownership of the company Mitt Romney personally sat on the Board of Directors. And during that same period, Damon Corporation was busy submitting fraudulent reimbursement claims to Medicare to the tune of millions of dollars charged for unnecessary blood tests. ... By the time Damon pleaded guilty to defrauding the United States Government of $25 million - and paid a total of $119 million in what was, at that time, the largest penalty of its...
  • EDITORIAL: Obama’s crony capitalism

    01/26/2012 6:15:00 PM PST · by jazusamo · 1 replies
    The Washington Times ^ | January 26, 2012 | Editorial
    Friends of the president are given billions in government largessePresident Obama said in his State of the Union address that one of the American values that must be reclaimed is “an economy where everyone gets a fair shot, and everyone does their fair share, and everyone plays by the same set of rules.” For three years, he and his political allies have been undermining this vision. They see government as a means of rewarding their friends and punishing their enemies. For the Obama circle, rules apply only to other people. Obamacare is a growing burden to American businesses, but not...
  • Buffett would profit from Keystone cancellation

    01/24/2012 4:20:34 PM PST · by SJackson · 5 replies
    The Washington Times ^ | 1-24-12 | Dave Boyer
    Warren Buffett, whom President Obama likes to cite as a fair-minded billionaire while arguing for higher taxes on the wealthy, stands to benefit from the president’s decision to reject the Keystone XL oil pipeline permit. Mr. Buffett’s Berkshire Hathaway Inc. owns Burlington Northern Santa Fe LLC, which is among the railroads that would transport oil produced in western Canada if the pipeline isn’t built. “Whatever people bring to us, we’re ready to haul,” Krista York-Wooley, a spokeswoman for Burlington Northern, a unit of Buffett’s Omaha, Neb.-based Berkshire Hathaway Inc., told Bloomberg News. If Keystone XL “doesn’t happen, we’re here to...
  • More ND oil will be railed with no US pipeline (Warren Buffet owns BNSF Railroad)

    01/23/2012 9:20:35 PM PST · by STARWISE · 23 replies
    AP/Yahoo ^ | 1-20-12 | James MacPherson
    Rail shipments of North Dakota crude to increase with decision to block Keystone XL pipeline ### North Dakota oil drillers increasingly will rely on trains to move barrels of crude to market after the Obama administration's decision to reject plans for a pipeline that would run from Canada to refineries on the Gulf of Mexico, state and industry officials say. "Pipelines are by far the safest and most economically efficient way to transport oil, but we are left with a limited number of options if pipelines are off the table," said Tony Clark, chairman of the North Dakota Public Service...
  • Triple Lutz Report--Gov Cuomo Wants Croupiers Not Drillers

    01/16/2012 8:22:37 AM PST · by appeal2 · 10 replies ^ | 01/16/2012 | Kerry Lutz
    New York Governor Andrew Cuomo has recently cut a deal with an obscure Malaysian Company to build a mega-casino at the Aquaduct Race Track in Queens Borough of New York City. At the same time he has put an indefinite hold on Hydro-Fracking natural gas drilling in virtually unpopulated sections of the New York State. So in other words, he wants you to become a low paid croupier, not a high paid gas driller. There has been virtually no discussion of the negative effects of gambling, increased crime, broken families and suicides. And as we’ve found out recently, for most...
  • Gingrich calls on his Super-PAC to correct inaccuracies or pull anti-Bain ads

    01/13/2012 10:01:01 AM PST · by bigbob · 78 replies
    The Hill dot com ^ | 1-13-12 | Justin Sink
    Newt Gingrich has called on the Super-PAC funding a series of ads critical of Mitt Romney's job creation record at Bain Capital to fix inaccuracies in the ads or remove them from the air. “I am calling for the Winning Our Future Super-PAC supporting me to either edit its “King of Bain” advertisement and movie to remove its inaccuracies, or to pull it off the air and off the internet entirely," Gingrich said in a statement released Friday. “Furthermore, I am once again calling on Governor Romney to issue a similar call for the Super-PAC supporting him to edit or...
  • Gingrich Decries 'Backdoor Socialism'

    01/12/2012 4:31:45 PM PST · by VinL · 111 replies · 1+ views
    Fox ^ | 1-12-12 | LYN
    Gingrich returned to the stump Thursday with a heavy dose of populism and defended himself against charges of being anti-capitalist and anti-free enterprise. "I think when you have crony capitalism of politicians taking care of their friends, that's not free enterprise, that's just backdoor socialism in which the rich get all the money and the rest of us get left, get left with all the debt," Gingrich told an audience of senior citizens gathered at the state fair grounds for a convention. Gingrich said he's been "amazed" by the intensity of critics who he said are attacking him for questioning...