Crony Capitalism in America Crony Capitalism in America 2008–2012 Hunter Lewis AC2 Books 94 Landfill Road Edinburg, VA 22824 888.542.9467
[email protected] Crony Capitalism in America: 2008–2012 © 2013 by AC2 Books. All rights reserved. Printed in the United States of America. No part of this book may be used or reproduced in any manner whatsoever without written permission except in the case of brief quotations used in critical articles and reviews. Publisher’s Cataloging-in-Publication Data (Provided by Quality Books, Inc.) Lewis, Hunter. Crony capitalism in America, 2008-2012 / Hunter Lewis. p. cm. Includes bibliographical references and index. LCCN 2013938294 ISBN 978-0-9887267-2-7 1. Capitalism--United States. 2. Financial crisis--United States. 3. Financial institutions--United States--Management. 4. Capitalists and financiers--United States. 5. United States--Economic policy. 6. United States--Economic conditions. I. Title. HB501.L49 2013 330.12’2 QBI13-600070 Contents Part 1: Introduction 1: Crony Capitalism around the World . 3 2: Crony Capitalism in America . 11 Part 2: Crony Politicians 3: Pay to Play: A Capitol Hill Primer . 23 4: Political ATMs: Fannie and Freddie . 35 5: Honey Pots 1: The Recovery Act (“Stimulus”) . 45 6: Honey Pots 2: Hurricane Sandy Relief and the “Fiscal Cliff ” . 57 7: Getting Rich (or Living Rich) from Public Office . 63 8: The Revolving Door . .. 73 Part 3: Crony Finance 9: “Government Sachs”: Revolving Door Prodigy and Power Behind the Throne . 83 10: “Government Electric”: Wall Street Masquerading as Main Street . 103 • v vi • Crony Capitalism in America Part 4: Crony Food 11: Monsanto’s Massive Experiment with Our Health .