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Crony Capitalism -- your tax dollars at work

Deusxmachina 15,807 1,166 November 14, 2011 at 12:34 AM
Obama Campaign Backers and Bundlers Rewarded With Green Grants and Loans
http://www.thedailybeast.com/news...graft.html
Quote :
The Government Accountability Office has been highly critical of the way guaranteed loans and grants were doled out by the Department of Energy, complaining that the process appears "arbitrary" and lacks transparency.

These programs might be the greatest—and most expensive—example of crony capitalism in American history. Tens of billions of dollars went to firms controlled or owned by fundraisers, bundlers, and political allies, many of whom—surprise!—are now raising money for Obama again.
If anyone was wondering why a couple presidential candidates want to get rid of the Department of Energy, there's part of it.

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#31
Quote from larrymoencurly View Post :
We need to become very realistic about politicians' incomes and greatly raise their public incomes while at the same time almost completely eliminating their private incomes, as Singapore does with its $2M salaries for supreme court justices and prime ministers.
Something to consider, as well as the idea of part time legislators.

I'd certainly have no problem with paying the president 3-5 million or more, with the agreement that they could not profit from their time as president, in any form, after they left office
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the GOP, which will lose the Presidency, the Senate, and maybe even the House of Representatives. And then, Hillary Clinton will appoint the most liberal, lesbian, man-hating bitch of a Supreme Court Justice that you've ever seen, and there isn't a damn thing you can do about it. And why? Because the American Voter is smart, and Donald Trump is stupid........

Signed,
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#32
Quote from larrymoencurly :
We need to become very realistic about politicians' incomes and greatly raise their public incomes while at the same time almost completely eliminating their private incomes, as Singapore does with its $2M salaries for supreme court justices and prime ministers.
Quote from Elmer View Post :
Something to consider, as well as the idea of part time legislators.

I'd certainly have no problem with paying the president 3-5 million or more, with the agreement that they could not profit from their time as president, in any form, after they left office
Part time politicans are fine for low level offices and small towns, but we definitely do not want that for our legislators because that would provide a huge loophole for abuse. For example, Arizona has legislators who are paid $30K a year by the state, so virtually all of them have other jobs, overwhelmingly in real estate, utilities, or the health care -- the very industries that just coincidentally are affected most by and benefit most from legislation. IOW they're all on the take and are essentially corporate lobbyists.

I want politicians to be paid only by the public because nobody can serve two masters, and after they leave office they should be prohibited from becoming lobbyists. Furthermore if they served in high office or even worked on the staffs of such politicians, they shouldn't be allowed to take any income except their government pensions plus any pensions they earned before going into office. This would cost a lot but would still be cheaper than the current system.
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#33
Quote from Elmer View Post :
I'd certainly have no problem with paying the president 3-5 million or more, with the agreement that they could not profit from their time as president, in any form, after they left office
Screw that. Ron Paul says he'll do the job for $39,000.

But, since you mentioned it...
http://washingtonexaminer.com/opi...s-he-wants
"Why the GOP should give Obama the higher taxes he wants"
Quote :
One of the things that's been floating around the Web over the past week is a video clip from 1953. It's a short film produced by the motion picture industry, seeking the end of a 20 percent excise tax on movie theaters' gross revenues that had been imposed at the end of World War II as a deficit-cutting measure. (Yes, gross, not net).

In the film, figures ranging from industry big shots to humble ticket collectors talk about how the tax is hurting their industry and killing jobs, and ask Congress to repeal the tax.
Hey, look at that -- Hollywood saying tax cuts create jobs. Ok, I had to put that in since most people probably never heard of it. Bringing that tax back might make Hollywood rediscover its love for low taxes. Continuing...
Quote :
Obamacare drafters went to work for the health care industry at inflated salaries. And drafters of the Dodd-Frank financial bill have gone on to big-shot lobbying and consulting jobs at high salaries.

Because much of their value to their employers comes from their prior government service, I think that the taxpayers deserve a share of the return, say in the form of a 50 percent surtax on any earnings by political appointees in excess of their prior government salaries for the first five years after they leave office.
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Morons react to Trump winning [youtu.be]
Larry Elder Dismantles The "Systemic Racism Argument" [youtube.com]

2/16/16 - "If it's Hillary vs. Trump, Trump landslide." - me!
7/25/16 - "Trump wins in a landslide." - me again! Dance13

Baby Boomers are the only generation in American history to find virtue in the third-world invasion of their country and displacement of their own children.

Citizens cheering the destruction of their country by "refugees":

Open Gates: The forced collective suicide of European nations [youtu.be]
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#34
http://biggovernment.com/whall/20...r-bailout/
Quote :
President John F. Kennedy's nephew, Robert Kennedy, Jr., netted a $1.4 billion bailout for his company, BrightSource, through a loan guarantee issued by a former employee-turned Department of Energy official.

From an objective vantage point, investing taxpayer monies in BrightSource was a risky proposition at the time. In 2010, BrightSource, whose largest shareholder is Kennedy's VantagePoint Partners, was up to its eyes in $1.8 billion of debt obligations and had lost $71.6 million on its paltry $13.5 million of revenue.

Even before BrightSource rattled its tin cup in front of Obama's DOE, the company made it known publicly that its survival hinged on successfully completing the Ivanpah Solar Electrical System, which would become the largest solar plant in the world, on federal lands in California.

Our ability to complete Ivanpah and the planning, development and construction of all three phases are subject to significant risk and uncertainty.
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#35
http://toryaardvark.com/2011/11/1...n-the-usa/
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The symbol of Green renewable energy, our saviour from the non existent problem of Global Warming, abandoned wind farms are starting to litter the planet as globally governments cut the subsidies taxes that consumers pay for the privilege of having a very expensive power source that does not work every day for various reasons like it's too cold or the wind speed is too high.

The US experience with wind farms has left over 14,000 wind turbines abandoned and slowly decaying, in most instances the turbines are just left as symbols of a dying Climate Religion, nowhere have the Green Environmentalists appeared to clear up their mess or even complain about the abandoned wind farms.

The tax payers who paid for the subsidies to build the wind farms, then paid over the odds for an unreliable source of power generation will, ultimately be left to pick up the bill for clearing up the Green eco mess in the post man made Global Warming world.
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#36
http://www.bloomberg.com/news/201...ncome.html
Quote :
The Federal Reserve and the big banks fought for more than two years to keep details of the largest bailout in U.S. history a secret. Now, the rest of the world can see what it was missing.

The Fed didn't tell anyone which banks were in trouble so deep they required a combined $1.2 trillion on Dec. 5, 2008, their single neediest day. Bankers didn't mention that they took tens of billions of dollars in emergency loans at the same time they were assuring investors their firms were healthy. And no one calculated until now that banks reaped an estimated $13 billion of income by taking advantage of the Fed's below-market rates, Bloomberg Markets magazine reports in its January issue.
Nice interactive chart on the page. It's like playing a video game, except that no matter how good you play, the banks' scores are always higher, and they always win.
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#37
Am I missing something, or is OWS practically silent on this sort of thing?
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#38
unbelievable, all I can say is Ron Paul 2012
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Click here to feed a hungry animal! [theanimalrescuesite.com]

It is well enough that the people of this nation do not understand our banking and monetary system, for if they did, I believe there would be a revolution before tomorrow morning. -Henry Ford
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#39
http://www.bloomberg.com/news/201...escue.html
Quote :
William Black, associate professor of economics and law at the University of Missouri-Kansas City, can't understand why Paulson felt impelled to share the Treasury Department's plan with the fund managers.

"You just never ever do that as a government regulator -- transmit nonpublic market information to market participants," says Black, who's a former general counsel at the Federal Home Loan Bank of San Francisco. "There were no legitimate reasons for those disclosures."

Janet Tavakoli, founder of Chicago-based financial consulting firm Tavakoli Structured Finance Inc., says the meeting fits a pattern.

"What is this but crony capitalism?" she asks. "Most people have had their fill of it."

Paulson is now a distinguished senior fellow at the University of Chicago, where he's starting the Paulson Institute, a think tank focused on U.S.-Chinese relations.
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#40
http://m.washingtontimes.com/news...-broadban/
Quote :
You may not have seen the show "Diary of a Single Mom" co-starring Billy Dee Williams, but your tax dollars helped pay for it.

The money came through an award by the Department of Commerce to One Economy Corp. for more than $28 million last year to help boost broadband Internet service in underserved areas across the country.

One Economy is using more than $1.5 million of that money to create programming such as "Diary of a Single Mom," which the group says will help provide an incentive for people to connect to the Internet.

According to grant reports, One Economy so far has invoiced the government $18.9 million of the $28.5 million awarded under the grant, with 142.47 jobs created.
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#41
http://www.coburn.senate.gov/publ...5a5e194365

$12 million dollars of U.S. taxpayer money to help Pakistan fix power outages.

$492,000 of taxpayer money to analyze how trustworthy people think Twitter tweets are.

There's too many more to list....
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#42
holy christ...
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#43
http://www.michigancapitolconfidential.com/16192
Quote :
Each Chevy Volt sold thus far may have as much as $250,000 in state and federal dollars in incentives behind it – a total of $3 billion altogether, according to an analysis by James Hohman, assistant director of fiscal policy at the Mackinac Center for Public Policy.

According to GM CEO Dan Akerson, the average Volt owner makes $170,000 per year.
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#44
How do our Congressmen and Senators continue to beat the market year after year?
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#45
this kind of shit needs to be plastered on billboards across the country.
People need to wake up to this sort of egregious government waste.
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