Archive for February, 2012

Crony Capitalism = Phony Capitalism

 

 

Facebook Page:  https://www.facebook.com/CronyCapitalism?sk=wall

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More on Romney, Crony Capitalism, and Subsidies – from The Nation and the LA Times

From Ari Berman at the Nation:

But a closer look at Bain’s record under Romney reveals that the company relied on the very government subsidies that Romney and Tea Party conservatives routinely denounce as “crony capitalism.” The Los Angeles Times ran a big story yesterday about Bain’s investment in Steel Dynamics, which received $37 million in subsidies and grants to build a new plant in DeKalb County, Indiana. An analyst at the Cato Institute called it “corporate welfare.”

And the LA Times article to which he refers.

 Mitt Romney no stranger to tax breaks, subsidies
Bain Capital profited from a steel company that got them, and he used them to attract business when he governed Massachusetts

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The Daily Show Digs In on Bain Capital

http://www.thedailyshow.com/full-episodes/tue-january-31-2012-jonathan-macey — starts at 9:00 minute mark!

 

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A Revealing Interview With Jonathan Macey

BUT, this interview does gain many revealing admissions from a writer whose Wall Street Journal article tried to argue the opposite.
Be sure to watch the third segment,where the arguments finally come together to some degree.
Jonathan Stewart is completely correct on this point:  “If you lose the will to cleanse the system then you have absolutely given up!”

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