Saturday, March 28, 2015

C is for (a buncha) crap.

C
crony capitalismīl·’skraCH  yo͝or·’bak ·and·’yo͞o
        terminus politicus
        1. the only kind

crony • bak·’slap·ər
        noun
        1. anybody that can be prevailed upon to lend you a few bucks under 
            the table

as in: 

“Just let it go,” Paul Ryan said of the Export-Import Bank, when he was running for Vice-President in 2012. “Absolutely. Most of the benefits go to a few very large companies [that frankly haven’t been all that helpful in our campaign]. I see it as crony capitalism.”
        (Bank officials contend that closing the bank would hurt American workers, but to hell with them.*)

According to the Washington Post online– 

Tea-party-aligned groups such as the Club for Growth, Heritage Action and FreedomWorks began campaigning against the bank several years ago, describing it as an example of “crony capitalism” . . . .

“True supporters of free enterprise must oppose corporate welfare of any kind,” Marc Short, president of Freedom Partners Chamber of Commerce, the network’s main financial arm, wrote to members of Congress on Thursday.

Koch Industries, the Wichita-based diversified manufacturing company run by the Koch brothers, is lobbying against the bank’s renewal — even though its subsidiaries have benefited from its financing in the past. For example, overseas customers of Georgia Pacific, the Koch-owned paper products company, received loan guarantees from the bank.

“We’ve lobbied against corporate welfare and will continue to vocally do so,” said Philip Ellender, the company’s president of government affairs. “Koch has never lobbied in favor of Ex-Im, but we will not place ourselves at a competitive disadvantage by not participating in programs that are in place. [It would be against our principles to let principle stand in the way of making money.]”

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     * workers! - not bank officials

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