Eric Cantor’s $3.5 Million Wall Street Job Isn’t Just for Cantor, It Is for Everyone Still in Congress

By: Tuesday September 2, 2014 11:07 am

The perfectly legal way to influence policy makers is to simply let it be known that if they hold favorable voting positions, they will very likely be rewarded with lucrative jobs. There is no need for a quid pro quo or even explicit promise as long as a clear and consistent norm is established. This is what happened to Rep. Eric Cantor (R-VA).

 

Report: Governors Engaging In Crony Capitalism Disguised As Economic Development

By: Wednesday October 23, 2013 9:41 am

In a new report, Good Jobs First details the growing use of “public-private partnerships” (PPPs) to promote economic development and the conflicts of interests they carry. Unlike traditional economic development which is run from a department of government (Commerce for example), PPPs allow private interests to borrow public authority to promote an economic agenda. Not surprisingly, that agenda often benefits the private interests that propose it. What was supposed to be a program for economic development quickly devolved into the most base form of government corruption and crony capitalism.

What Did These Idiots Think Would Happen if We Hired Contractors to Handle Spying?

By: Friday July 5, 2013 3:30 pm

Apparently it has escaped the notice of politicians and bureaucrats that the interests of contractors are not the same as the interests of their customers. The contractor wants to make lots and lots of money. The contractor wants to make the customer happy, so it tells the customer whatever it wants to hear: oh sure, we can do that; or oh sure, that’s a great idea, you must be very smart to have thought of it; or I’m sure you’ve heard about the steps being taken by your competition, but fortunately we can stop them. The contractor has no interest whatsoever in completing the work, because that stops the money flows.

FDL Book Salon Welcomes Jeff Connaughton, The Payoff: Why Wall Street Always Wins

By: Sunday October 21, 2012 1:59 pm

Jeff Connaughton has authored a powerful, and chilling insider’s perspective on the financial crisis and the pathetic governmental response to it. The second part of his title sums up the result and the first half explains why Wall Street always wins. Many, perhaps most Americans are likely to agree with both parts of Connaughton’s title so this book will not transform the public’s view of the issues. The public largely has this set of issues correct. Connaughton gives the readers unique access to the facts because he had a front row seat to many of the key discussions and he has the analytical abilities and expertise to explain the significance of those facts.

Citizens United and Corporate Campaign Money: It’s Much More than the Appearance of Corruption

By: Tuesday August 14, 2012 5:08 pm

As we move into heavy campaigning season, let us reflect on Citizens United. Perhaps the silliest statement in the opinion written by Justice Anthony Kennedy is the one in which the majority concluded that corporate campaign contributions to no corrupt or create an appearance of corruption. In fact there are many studies that show the do corrupt.

Down the Tubes

By: Thursday August 9, 2012 8:00 pm

My 30-year high school reunion is this weekend, and the occasion has given me cause for reflection, in addition to the dieting. Although Reagan had been in office for two years, leading to a grinding recession that hit Oregon particularly hard, the horrors of our current political era had only barely manifested themselves at that moment of my misspent youth.

Late Night: Pump and Dump

By: Thursday May 31, 2012 8:00 pm

By any objective measure, Republican dominance in either state or local government ends in failure. Deficits, cronyism, declining services and economic malaise are always the result, conveniently leaving in their wake increased public cynicism about the value of government at all. But that leaves out the curious paradox that it precisely when government is so thoroughly trashed, rich people are more eager than ever to buy it. Why? For the same reason they love to buy “troubled” companies and fixer-uppers; somewhere, someone has left money on the table, and they’ve got to get their paws on it.

Conservatives Countering Corrupt Crony Capitalism

By: Tuesday January 17, 2012 6:01 pm

Hey, you know what conservatives really really hate? Conservatives just can’t stand it when rich people and corporations use their vast wealth to game the system! Just don’t ask them to support any kind of public campaign financing or limits on corporate political spending…

FDL Book Salon Welcomes Dylan Ratigan, Greedy Bastards: How We Can Stop Corporate Communists, Banksters, and Other Vampires from Sucking America Dry

By: Sunday January 15, 2012 1:59 pm

Dylan Ratigan is well positioned to author a book, designed to be an enjoyable and informative read by normal humans, on the ongoing financial crisis. He is the wunderkind who became Global Managing Editor for Corporate Finance of Bloomberg, the premier news service that specializes in finance, at an exceptionally young age. He was at CNBC while that network was hyping the housing bubble as a non-bubble offering fantastic investment opportunities.

GOP Keeps Letting Their Masks Slip

By: Saturday September 24, 2011 6:45 am

The same Republicans who are making the most noise over the Bush-backed Solyndra loan guarantee (yeah, Diaper David Vitter, I’m looking at you) are being oddly quiet over Bush’s role in making it happen, just as they’re being oddly quiet over their own support of loan guarantees and outright grants (aka free taxpayer money, folks) for energy-related projects in their own Republican districts. And you won’t hear Darrell Issa talk much about the burgeoning San Bernardino Airport scandal that’s unfolding, complete with an FBI raid, in the home district of Issa’s fellow California Republican congressman, Jerry Lewis, the former head of the House Appropriations Committee and a big fan of the Berdoo Boondoggle

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