Posts tagged ‘revolving door’

Washington, DC – Cronyism – Ozymandias


Is Big Business a Danger to Economic Liberty?

This all reflects the aspect of lobbying most observers miss: the lobbyists are often more closely bound to the politicians they are supposedly swaying than they are to the clients they are supposedly representing. The result: the lobbyists serve largely to extract money from companies, and use that money to help their political friends, whose success will ensure the lobbyists more clients.


Big Business Loves Big Government: Cronyism in American Politics

This is how wealth begets wealth, power begets power, and how on K Street, they are all intermarried.

Timothy Carney

The DC Revolving Door swings wide and it swings both ways

See also, “Obama Administration Helps Wall Street Criminals Dodge Accountability Hope and Change! LOL!


Crony Capitalism as Progressive Reform

Books by Timothy Carney
The Big Ripoff
Obamanomics

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Shit My President Says

Kind of like “Shit my Dad says,” but with unfortunate consequences for millions of people, not just the rubes who voted for the Moral Preener in Chief.

#ShitMyPresidentSays

Scandal? What Scandal?

“Don’t worry, I’ll pull out.”

“I’ll still love you in the morning.”

“This is the moment the rise of the oceans began to slow and our planet began to heal.”

“You can keep your plan.” (IYLYPYCKYP)

“It’s the law of the land.”

“We won.”

“Stop fanning the flames of division.”

“Let me be perfectly clear.”

52 Percent of People Don’t Trust Obama Anymore

“You will not see your taxes increase one single dime. Not one single dime.”

“My job is to solve problems, not to stand on the sidelines and carp and gripe.”

“You can take that to the bank.”

I will close Guntanamo.

“The buck stops with me.”

“Let me be absolutely clear.”

“No more secrecy.”

“I’ll make our government more open and transparent.”

“I will promise you this.”

“I hear you loud and clear.”

No to warrantless wiretaps. No corporate welfare, no more secrecy.

“I am less interested in passing out blame.”

Fast and Furious, IRS, Benghazi, Obamacare, Solyndra, GM and Chrysler, revolving door, Pigford, Sibelius shakedown, no lobbyists in administration, transparency, etc., ad nauseum.

Obama is at Two Dozen Scandals and Counting

“We’ve been a little bit lazy the last couple of years.”

A Noble Lie? Why ObamaCare is worse than just a case of pathological altruism.

“ocean-commanding commander-in-chief”

Liar in Chief

“Marriage is the union between a man and a woman.”

Every president faces the challenge of explaining complex policies in simple terms. But the quest for simplicity is no excuse for dishonesty.

Obama’s own advisers told the Journal that they knew those 16 words were untrue, but Obama kept on saying them — over and over and over again.

If that’s the case, then Obama didn’t misspeak.

He lied.

A dishonest presidency

“Let me be absolutely clear.”

“I want to go through the federal budget, line by line.”

“I’m pledging to cut the deficit by half by the end of my first term in office.”

“I’ll end the abuse of no-bid contracts once and for all.”

“No more illegal wiretapping of American citizens.”

“No more ignoring the law when it is inconvenient.”

“We’re not going to use signing statements to do an end run around Congress.”

“What can we do without Congress.”

Pretty sad when a politician can make George W. Bush look like a miser, Bill Clinton look like a paragon of virtue, Jimmy Carter look decisive, and Dan Quayle look like a brilliant genius.

“We can restore fiscal responsibility in Washington.”

Alas, the English language is not well equipped to capture the sensation I’m describing, which is why we must all thank the Germans for giving us the term “schadenfreude” — the joy one feels at the misfortune or failure of others. The primary wellspring of schadenfreude can be attributed to Barack Obama’s hubris — another immigrant word, which means a sinful pride or arrogance that causes someone to believe he has a godlike immunity to the rules of life.

The hubris of our ocean-commanding commander-in-chief surely isn’t news to readers of this website. He’s said that he’s smarter and better than everyone who works for him. His wife informed us that he has “brought us out of the dark and into the light” and that he would fix our broken souls. The man defined sin itself as “being out of alignment with my values.” We may be the ones we’ve been waiting for, but at the same time, everyone has been waiting for him. Or as he put it in 2007, “Every place is Barack Obama country once Barack Obama’s been there.”

Obamacare Schadenfreudarama

Hubris, thy name is Barack Obama.

He knows everything. And yet he seems to know nothing. He’s passionate about the details of domestic policy but wasn’t privy to the details of his own legacy law. He’s an academic with a command of every issue at once but seemingly only finds out what his administration is doing in news reports. He’s so brilliant every normal endeavor he’s tried has bored him, but he couldn’t bother to entertain himself with more than one monthly meeting on the make-or-break program of his presidency. He’s the captain of the Culture of Competency who has overseen the most incompetent rollout of an entitlement program in history.
. . .
He knows everything. And yet he knows nothing. . . . The animating feature of Obama’s leadership style is simply making pronouncements. Making them about things he knows, things he knows not, and waiting for everyone and everything to fall in line. And, when things don’t magically come together, he pronounces his disappointment and anger. Wash, rinse, repeat.

“We’re going to get this done, all right?”

Sure. If you say so.

The ignorant omniscience of President Obama

Bill Clinton: “Give me a break. This whole thing is the biggest fairy tale I have ever seen.”

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Beltway Shakedown

Welcome to the buckraking phase of the Obama era. If the campaign was about hope, and the early presidency was about change, increasingly the administration has settled into a kind of normalcy in which it accommodates itself to Washington far more than Washington accommodates itself to Obama. That’s not necessarily a bad thing when the result is a bipartisan schmooze-fest at the Jefferson Hotel. But when it comes to the D.C. custom of trading a White House security clearance for a private-sector sinecure, there’s a lot to be said for not going native so easily.

Within Obamaworld, there are a few unwritten rules about how to parlay one’s experience into a handsome payday. There is, for example, a loose taboo against joining a K Street lobbying shop and explicitly trading on administration connections. And while joining a consulting firm is acceptable, those who do are reluctant to work for clients reviled by liberals: gun makers, tobacco companies, Big Oil, union busters. Above all, there is a simple prohibition against excessive tackiness.

Get Rich or Deny Trying How to make millions off Obama

Avoiding tackiness is a big virtue. Hope and change! Forward!

Washington’s `revolving door’ – the movement from government service into the lobbying industry- is regarded as a major concern for policy-making. We study how ex-government staffers benefit from the personal connections acquired during their public service. Lobbyists with experience in the office of a US Senator suffer a 24% drop in generated revenue when that Senator leaves office. The effect is immediate, discontinuous around the exit period and long-lasting. Consistent with the notion that lobbyists sell access to powerful politicians, the drop in revenue is increasing in the seniority of and committee assignments power held by the exiting politician.

Revolving Door Lobbyists,” by Jordi Blanes i Vidal, Mirko Draca, and Christian Fons-Rosen, CEP Discussion Paper No 993, August 2010 (61-page PDFPDF)

An investigation by Sen. Carl Levin and a grilling of Apple CEO Tim Cook on Tuesday by the Senate’s Permanent Subcommittee on Investigations were ostensibly about Apple’s low tax bill. But nobody accused Apple of breaking the law. The company moved money around to minimize the tax it owed and then paid the amount the law required. Apple didn’t write the tax law or even lobby very hard to shape it.

And that’s just the problem. The grilling of Apple is best understood as a shakedown by politicians upset with Apple for not playing the Washington game that yields contributions, power, and personal wealth for congressmen and their aides.

Apple doesn’t have a political action committee to fund incumbents’ re-elections. Apple doesn’t hire many congressional staff or any former congressmen as lobbyists. Apple mostly minds its own business — and how does that help the political class?

The Beltway Shakedown is an old game. Microsoft may be its most famous victim. In the 1990s, while the Federal Trade Commission investigated the software giant for supposed antitrust violations, the Senate Judiciary Committee, run by Republican Orrin Hatch of Utah, held hearings to beat up CEO Bill Gate

Apple becomes latest target of the Beltway Shakedown

How does Apple respond?

Apple CEO Tim Cook announced at a tech conference yesterday [May 28, 2013] that it was hiring President Obama’s EPA director, Lisa Jackson, as a VP for environmental initiatives.

Obama Revolving Door: Former EPA head Lisa Jackson to Apple

The Beltway Shakedown is a bipartisan game. That’s one reason we need a Revolving Door Tax (RDT).

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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Government Ethics and the Revolving Door (cont’d), Crony Capitalism at Work


“Citigroup replaces JP Morgan as White House Chief of Staff”

The revolving door is in large measure how the ruling class, the Leviathan, the Cult of the Philosopher Kings, has turned the Republic into a crony capitalist haven of mutually reinforcing money and power. And the price of admission is often a degree from an Ivy League school.

Michael Paese used to be chief of staff to House Financial Services Committee Chairman Barney Frank, until Paese became a lobbyist. When former Tom Daschle intimate Mark Patterson left Goldman Sachs’ lobby shop to become Tim Geithner’s chief of staff at Treasury, Paese took the helm at Goldman’s lobby shop.
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Government Ethics and the Revolving Door: Tax It = Revolving Door Tax (RDT)

When Obama ran for president in 2008, he promised to “close the revolving door” and clean up both ends of Pennsylvania Avenue, but that hasn’t happened. Which isn’t to say that it shouldn’t happen now. But I don’t think the usual ethics-rules approach is enough.

The problem with ethics rules for this sort of thing is that they tend to be ignored, or distorted. So I say, let’s involve the most effective behavior-control machinery in America: the Internal Revenue Code.
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