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Neoliberal ARCHITECTS

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Neoliberal ARCHITECTS State of Corporate pOWER 2012 All in all, I think we've hit the jackpot. U.S. President Ronald Reagan, October 15, 1982, as NEOLIBeral ARCHITECTS he signed a bill deregulating the savings and loan industry which allowed bankers to gamble hundreds of billions in taxpayers' money Anatoly Charlie Alan Carlos Chubais McCreevy Tony Blair Greenspan Salinas First Russian deputy chairman of As Chair of Federal Reserve from economy and finance after the col- Irish Minister for Finance, Mexican President, 1988-1994. UK Prime Minister, 1997-2007, lapse of the Soviet Union. Backed 1997-2004. Pushed through 1987 to 2006, Alan Greenspan Oversaw privatisation of 200 who followed Thatcher in promoting by IMF and World Bank, was one of low taxation, deregulation, managed US fiscal policy based on state-owned companies, negotia- increased privatisation of public the architects of deregulation and and fueled housing bubble low interest rates and speculative tion of North American Free Trade services, deregulation of finance a privatisation model that led to an lending, and was a strong advocate Agreement, and spending spree which led to economic crisis. and consumption-led growth. effective handover of major state of tax breaks for the rich and that contributed to Mexican finan- European Commissioner for companies, such as Yukos, Lukoil deregulation of the financial sector. cial crisis in 2004. Internal Market and Services, Corporate ties: and Novolipetsk Steel, to government 2004-2010, responsible for insiders. These insiders became 20 Consultant to JP Morgan Chase Corporate ties: Corporate ties: sweeping program of EU-wide for an estimated $1 million per year. Sat on boards of Alcoa, Automatic of the richest men in the world in the Salinas was advised by Robert financial sector deregulation, Advisor on climate change to Zurich Data Processing, Capital Cities ABC, 1990s. Meanwhile 60% of russians Rubin (Goldman Sachs, Citigroup, controversial EU Services Financial Services. General Foods, J.P. Morgan & Co., has the same real income or less Directive, and Lisbon Treaty. U.S. Treasury) and tied to Mexican Estimated to receive millions Morgan Guaranty Trust Co., Mobil, than the average 20 years ago. oligarchs: Carlos Slim (Telmex), more through various corporate Pittston Co., and Council on For- Emilio Azcarraga (Televisa), and Corporate ties: Corporate ties: partnerships including Tony Blair eign Relations. Consultant to Allianz Roberto Hernandez Ramirez In 2010 forced to resign from Involved in series of scandals in- Associates, Windrush Ventures, AG’s Pacific Investment Manage- (Banamex, Citigroup). U.S. Gener- board of NBNK Investments cluding a $2.9 million interest-free and BDBCO Ltd. While the Quartet ment Company (PIMCO), Paulson al Accounting Office reported that after EU ethics committee loan from Stolichny Savings Bank, Special Envoy on the Middle East, & Co., Deutsche Bank 2007. between 1992 and 1994 Salinas’ found conflict of interest with a major beneficiary of privatisation. mediating the peace process brother Raul transferred over $90 his work as commissioner in “Those of us who have looked to Head of state owned electric power million out of Mexico into bank ac- in the Israeli-Palestinian conflict, monopoly Unified Energy System charge of financial regulation. the self-interest of lending insti- counts in London and Switzerland, Blair has also engaged in multi- (UES). Since September 2008, Sits on boards of Ryanair, tutions to protect shareholders’ through a complex set of transac- -million dollar contracts with the advisor to JPMorgan Chase & Co. Sentenial, BNY Mellon Clearing equity, myself included, are in a tions aided by high-ranking officers Kuwaiti and Abu Dhabi regimes Currently head of Rusnano Russian International Ltd, Sports Direct state of shocked disbelief.” of Citibank. and is linked to oil interests in Iraq Nanotechnology Corporation. International. Greenspan on 2008 economic Carlos Salinas served on the Dow through the Korean UI Energy Corp. collapse Jones & Company board of direc- tors, 1995-1997. Forty-three percent of 198 members who left Over half of the lobbyists at four of the best known US Congress between 1998 and 2005 Brussels lobby consultancies have previous experience became registered lobbyists. working inside EU institutions. Frits Marcilio Peter Dick Lawrence Marques Bolkestein Mandelson Cheney Summers Moreira Director of communications for the UK Secretary of Defense, 1989- World Bank chief economist, 1991- Labour Party; Privy Councillor and Sec- Royal Dutch Shell employee, 1993, and U.S. Vice President, 1993, US Treasury Secretary, 1999- Brazilian Minister of retary of State for Trade and Industry in Minister of Defence in 2001-2009 who advocated 2001, President of Harvard University, Finance, 1991-1992, 1998; Secretary of State for Northern Netherlands, European 2001-2006, Director of National Eco- responsible for overseeing invasions of two countries, and Ireland, 1999-2001. One of the architects helped privatize U.S. military Commissioner for Internal nomic Council, 2009-2010. Actively the Plano Collor (Plano and key defenders of Labour Party’s and energy policy. Market and Services, 1999- encouraged Russian liberalization, Brasil Novo) of trade full embrace of pro-corporate domestic 2004, responsible for the lobbied against US participation in the liberalization, deregulation, and international policies. As European ‘Bolkestein Directive’ that aimed Kyoto Protocol and promoted deregu- and privatization. Commissioner for Trade, 2004-2008, to create a free market for the lation of finance such as the Gramm- he aggressively pushed for Free Trade Corporate ties: Leach-Bliley bank deregulation in 1999. services sector in the EU that Corporate ties: Agreements to help expand markets for Halliburton CEO, 1995-2000. was widely condemned for Executive Vice-President, European corporations. Wife Lynne Cheney on board trying to lower health, safety Corporate ties: of Lockheed, 1994-2001. Hedge Fund D. E. Shaw Group man- Unibanco. Senior and labour standards. Corporate ties: Both companies are major aging director, 2006-2009. Board of International Advisor at Merrill Lynch & Chairman of Global Counsel LLP, a con- military contractors that electronic payment service Square, gained massively from US Corporate ties: 2011. Adviser to venture capital firm Co. Board member of sultancy firm for European businesses, foreign policy during his vice- Non-executive director of Andreessen Horowitz, 2011. During NOVOTEL, Coca-Cola, 2010- ; Senior Adviser to financial Air France-KLM, 2005-2011. Summers’ Presidency at Harvard, Uni- RJ Reynolds, Hoechst, advisory and asset management firm -presidency. Former board Advisor to Russian oligarch versity purchased a series of specula- Marsh & McLennan Group, Lazard Ltd, 2011. Tenure in EU Commis- member of Procter & Gamble, Mikhail Khodorkovsky’s Bank tive interest rate swaps that eventually IBM-Latin America, and sion led to allegations that his meetings Union Pacific, Electronic with Russian oligarch Oleg Deripaska Menatep, the holding company lost approximately $1 billion in value. GE-South America, and Data Systems, Salomon were a conflict of interest given his role of energy and oil conglomerate While top economic adviser to Presi- ENERGISA. Smith Barney, and American Yukos. dent Obama, earned more than $5 in decisions to cut aluminum tariffs that Enterprise Institute. In 2007, million from D. E. Shaw and collected benefited Deripaska’s company Rusal. Cheney reported assets valued $2.7 million in speaking fees from Wall “We are intensely relaxed between $21 and $100 million. Street companies that received gov- about people getting filthy rich.” ernment bailout money. Resources: http://www.tni.org http://www.corporateeurope.org There is always somebody who pays, and international business http://www.alter-eu.org/revolving-doors http://www.thecornerhouse.org.uk is generally the main source of corruption. George Soros, Business magnate and investor.
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