Posts tagged ‘plutocrats’

Obama Knows *He* is the Smartest Guy in the Room

Because he’s been told that most of his life and now he listens to his own bullshit without interruption. And lots-o-rubes bought it. Twice.
You just can’t fix stupid.

If you’ve gone to graduate or law school, you know the type. Very special little hothouse flowers.

It’s sad, yes, but America probably hasn’t fully grasped the terrifying truth about President Barack Obama’s upcoming State of the Union speech.

After this one, he has two more to go.

Two more? Ye gods!

The prospect of listening to him blah blah blah his way through three more of these annual speeches is enough to cause the nation to curl up on the floor in the fetal position and start breathing from a brown paper bag. The man is talking the country to death, and we can’t take anymore.

The State of the Union is: We need Hillary now

We have a gangster government, a fascist thugocracy:

Never in the history of this country have we seen such a broad and coordinated abuse of the government’s power to threaten criminal prosecution and ruin the lives and livelihoods of people the president and his party see as political “enemies.” None of the victims above did anything that even smelled like a criminal act act (except, perhaps, D’Souza) before the state came crashing down with the inevitable and purposeful result of ruining their lives. Their only “offense” was publicly opposing the president’s agenda, and putting those dissenters through the goverment’s paces was the whole point.

The Unceasing Political Thuggery of Obama’s Gangster Government

From Biff Spackle, “A Warning Straight Out of 1850” at Doug Ross @ Journal

Biff Spackle Illustrates Bastiat's The Law, from 1850

And Chuck Schumer, the voice of the little man and courtier of plutocrats, is the second smartest guy in the room:

Schumer argued at the Center for American Progress on Thursday that the Tea Party is built on a foundation of deception: “Wealthy, hard Right, selfish, narrow” elites have fooled regular Tea Partiers into hating government. Schumer’s premise is that Big Government is the friend of the regular guy, and only the selfish wealthy elites benefit from more economic freedom.

It seems relevant, then, that Schumer — a dedicated liberal — is the most important congressional Democrat when it comes to fundraising. Schumer headed the Democratic Senatorial Campaign Committee for the 2006 and 2008 elections.
. . .
Schumer, to fund his own elections, taps deep into the plutocracy he condemns. In the 2010 election, Schumer ran basically unopposed. Still he was the No. 1 Senate recipient of money from the insurance industry, private equity, hedge funds, Wall Street, real estate, the cable industry, and hospitals. Schumer was No. 3 in money from lobbyists, Hollywood, and mortgage bankers.

Schumer’s Senate office seems to have its own revolving door that exits straight onto K Street. He is tied for third place, in all of Congress, for having the most staffers in the Center for Responsive Politics’ revolving door database. Only Minority Leader Mitch McConnell, R-Ky., and Finance Committee Chairman Max Baucus, D-Mont., beat him on the revolving door scoreboard.

And Schumer knows how to profit from this revolving door action. In January 2007, when his party took charge of the Senate, he gathered some of America’s wealthiest hedge-fund managers in a Manhattan restaurant and told them, in effect, start lobbying and giving money to politicians.

A few months later, Schumer’s top banking staffer, Carmencita Whonder left for the K Street firm Brownstein Hyatt, which immediately picked up a handful of hedge fund and private equity clients. Whonder also became a volunteer fundraiser for Schumer, while other hedge fund millionaires raised money for Schumer’s DSCC.

Chuck Schumer: Voice of the little man, courtier of plutocrats

As G.K. Chesterton said, “It is terrible to contemplate how few politicians are hanged.”

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What crony capitalism? Rent seeking at the C-Level

“Increasingly CEOs are seeing the need to get engaged because the government more often than not is a business partner that can affect their bottom line positively, or negatively,” said Nick Calio, a Washington veteran who now heads the trade group Airlines for America.
. . .
CEOs have also been welcomed with open arms by political leaders looking to take on major issues like immigration reform, tax policy and the deficit and debt [Ed., and campaign contributions, all for the public good of course].

The Obama administration has brought business leaders into the White House repeatedly in his second term on issues like cyber security, immigration and the economy [Ed., and campaign contributions, all for the public good of course].

Earlier this month Obama met privately with energy CEOs in preparation for hurricane season. Attendees included: Tony Alexander of FirstEnergy, Chris Crane of Exelon, Lew Hay of NextEra Energy and Joe Rigby of Pepco.

He also huddled in April with Wall Street execs in an effort to sell them on his fiscal policy plans. That group included Lloyd Blankfein of Goldman Sachs, JPMorgan’s Dimon, Brian Moynihan of Bank of America, John Stumpf of Wells Fargo, among others.

[As the federal government gets bigger and bigger, enabled by Congress] “I think there’s more to lose now than there has been in the past,” said Ivan Adler, a headhunter with the McCormick Group. “So losing a big legislative fight has more of an impact on the bottom line than it did in the past, and therefore there’s a higher cost for failure.”

CEOs storm Washington

Goldman Sachs, Facebook, GE, JPMorgan, Bank of America, Wells Fargo, Exelon, NextEra Energy, Pepco, FirstEnergy, GM, Airlines for America, T. Boone Pickens, Warren Buffet – special interests and crony capitalists all, and all TBTF.

Buck McKeon’s family is getting into the defense lobbying game.

A firm run by the California Republican’s brother and nephews has landed five lobbying clients, according to newly filed disclosure forms. Each one lists “defense” as an issue area.

As chairman of the House Armed Services Committee, McKeon has major influence over the Pentagon’s annual spending plan — not to mention a last name recognizable to almost anyone in the defense industry. So, the congressman says he’s trying to avoid even the perception of any conflict of interest.

Buck McKeon kin join defense lobbing game

“avoid even the perception of any conflict of interest” – Too late.

For a good roundup about rent seeking, see “What happens when you try to give away money?

We have the best political class, crony capitalists, and plutocrats our money can buy.

Ozymandias

Unfortunately, it seems that the future Aldous Huxley predicted in 1932, in Brave New World, is arriving early. Mockery, truculence, and minimalist living are best, then enjoy the decline. However, we do need a Revolving Door Tax (RDT), learn what Members of Congress pay in taxes, and prosecute politicians and staff and their “family and friends” who profit from insider trading.

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The Case Against Cronies and Crony Capitalism

It’s time for a free-market corporate social responsibility. Conservatives who rail against government hand-outs should also blast companies who seek shelter from Washington.
. . .
The Republican attack on President Obama’s economic policy has changed subtly, but significantly, in the last three years. In 2009, he was allegedly a “socialist” and a “Marxist” who lusted for government control of the entire economy. But lately, that has given way to more nuanced charges of “crony capitalism” — of giving special, friendly treatment to certain companies and industries, or allowing powerful corporations to essentially write the laws, themselves.
. . .
Voters despise government officials who get in bed with corporations. But what about corporations who cozy up to government? Are companies who use cronyism to grow their profit acting unethically?

The question makes some free-marketeers uneasy. After all, we not only tolerate the fierce pursuit of profit, but also we defend it against taxes and heavy-handed regulation. Milton Friedman famously said, “The social responsibility of business is to increase its profits.”

But in the age of crony capitalism, libertarians must declare that some means of pursuing profit are immoral and call on executives to reject them. This would create a positive case for capitalism — arguing that the pursuit of profit, in the context of fair and open competition, helps the whole society. The new corporate social responsibility, redefined for libertarians, must stand athwart crony corporatism yelling “stop.”

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The Ruling Class and America’s New Mandarins

Concentrated power is not rendered harmless by the good intentions of those who create it.

Milton Friedman


Term limits increase the power of unelected professional staff.

The real conflict in political theory … is not between individualism and community. It’s between voluntary association and coerced association.

David Boaz
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Plutocrat in Chief

More plutocrats like Jack Lew in the government to join the Plutocrat in Chief:

When Bernie Sanders and Jeff Sessions agree, that is called “smoke”.

The Plutocrat in Chief:
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