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Tag Archives: Wall Street

Business vs “the people” in Chicago mayoral race? No, one crony group versus another

Former Obama chief of staff and current mayor of Chicago Rahm Emanuel is in the fight of his political life right now. Unable to garner more than 50% of the votes in last month’s mayoral election Mr. Emanuel now finds himself duking it out in a runoff with Jesus “Chuy” Garcia. Rahm is still favored, but Garcia is giving it a real run.

The race has been characterized as a battle between different wings within the Democratic Party. Rahm Emanuel we are told represents the “Wall Street wing,” whereas Chuy Garcia represents the “progressive wing.”

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Do we need the Export-Import Bank? Less than .01% of US business say maybe, Boeing says yes

The argument is that if taxpayers don’t subsidize purchases of Boeing’s jets by overseas airlines those airlines will buy European Airbus jets instead which are subsidized in all sorts of ways. Boeing argues that the elimination of Ex-Im puts the company at a competitive disadvantage. It is arguing essentially that Boeing is very nearly an official “US company” which deserves special treatment. Of course the profits continue to go to private shareholders. (Not the taxpayers, not that they should.)

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More Crony Clinton: (Hillary) plans to astound, intimidate with fundraising ‘like nothing you’ve seen’

Well she’s been doing the rounds for a long time already. 29 of the Dow 30 have already sent checks her way. But more money is coming.

I wonder what our friends on the legitimate Left are going to do about this? In the end probably vote to perpetuate crony capitalism I suspect.

As we’ve said before, many interests are very keen on seeing a Hillary/Jeb or Christie or Romney race in 2016. For the crony class it will be a win either way.

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The Crony Capitalism Litmus Test

Another excellent article from Tim Carney. If you really want to understand the politics of the Export-Import Bank you need to read it.

Not renewing Ex-Im is a good start. But just a start. (And we’re not even there yet.) The bank is just the first of the crony programs which need to be unwound in the months and years ahead.

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