Big regulation is a big opportunity for big business and no industry is bigger than healthcare. This deal is so big that it needed to be outsourced to the insurance companies to be written.
The revolving door spins again and the sound it makes is “cha-ching”. Big banks love big regulation. After all, regulation is the primary barrier to entry for competition. What adds insult to the injury is when the authors of corrupt regulation take their big fat payouts.
Republican state senator Darin LaHood helped to perpetuate a cycle of crony capitalism and donor back-scratching by voting for a bill that benefited both his law firm and campaign donors at taxpayers’ expense, according to a study of his votes, law firm payments, and campaign contributions….
Hillary Rodham Clinton’s brother, Tony Rodham, sat on the board of a self-described mining company that in 2012 received one of only two “gold exploitation permits” from the Haitian government—the first issued in over 50 years.
Sen. Dianne Feinstein cashes in bigtime (see pagesix).
Ever wonder how lowly paid lawmakers leave office filthy rich?
Sen. Dianne Feinstein is showing how it’s done.
The US Postal Service plans to sell 56 buildings — so it can lease space more expensively — and the real estate company of the California senator’s husband, Richard Blum, is set to pocket about $1 billion in commissions.
Blum’s company, CBRE, was selected in March 2011 as the sole real estate agent on sales expected to fetch $19 billion. Most voters didn’t notice that Blum is a member of CBRE’s board and served as chairman from 2001 to 2014.
This feat of federal spousal support was ignored by the media after Feinstein’s office said the senator, whose wealth is pegged at $70 million, had nothing to do with the USPS decisions.
Some say that 90% waste, fraud, and abuse of $130B spent reconstructing Afghanistan is shame, but others would call it a windfall. It is a new millennium, but the old business of making money off of war is still big business. (See here)
Eric Cantor recently sold out to Wall Street for $3 million. See http://nymag.com/daily/intelligencer/2014/09/what-eric-cantor-will-really-do-on-wall-street.html
Marita Noon is documenting a series of cronyism in the energy industry. This article explains how a friend and contributor to Richardson was enriched by a new rule and old exemption.
Another example of why politicians should not own stocks of individual companies (see Bloomberg).