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  • crony capitalism

    The Jones Act vs. Affordable Energy

    The Wall Street Journal recently highlighted another Washington regulation that is holding back the economy. But this one can’t be blamed on President Obama, because it was enacted over 90 years ago. The protectionist Jones Act requires shippers transporting goods between two points in the United States to use vessels … More

    Cronyism: Crushing the Free Market and Promoting Rent-Seeking

    Imagine your son or daughter aspiring to be a government crony instead of an engineer or business owner. That nightmare scenario plays out in a new video by Crony Chronicles, a website that fights cronyism. In the video, kids who might otherwise have become doctors and architects aspire instead to … More

    Countrywide Gave VIP Loans to Top Policymakers, Regulators

    The now defunct Countrywide Financial Corp. issued hundreds of discounted loans to government officials and Fannie Mae employees in order to build clout with influential policymakers, a new House report shows. The report, issued by the House Oversight and Government Reform Committee, details several Countrywide VIP loans that were given … More

    Obama to Tout Green Energy at Politically Connected Wind Company

    President Obama will make a push for wind energy subsidies on Thursday at the Iowa production facilities of a politically connected wind turbine manufacturer with ties to his administration. The appearance could serve to reinforce perceptions of cronyism in the administration’s “green jobs” push. At the manufacturing facilities of TPI … More

    Chart of the Week: Crony Capitalism Leads to Higher Sugar Prices

    Sugar producers contribute only a small percentage of value to overall U.S. crop production, yet the industry continues to reap the rewards from government thanks to a significant lobbying presence and sizable campaign donations. The result is government interference in the sugar market, which dates to the 1930s Depression. American … More

    Exclusive Interview: John Stossel Says Government Can't Solve Our Problems

    John Stossel’s skepticism of government and his storytelling approach about free-market economics have made him a rock star in conservative and libertarian circles. He spoke at The Heritage Foundation on Wednesday about his new book, “No, They Can’t: Why Government Fails—But Individuals Succeed.” It is Stossel’s latest attempt to debunk the myths … More

    Twinkies, Kodak, Bailouts, and the Free Market

    Are you a fan of Twinkies, the cream-stuffed yellow cake confection packed with sugary goodness, wrapped in a thin layer of cellophane? If so, here’s some bad news for your sweet tooth: Hostess Brands Inc., the maker of Twinkies, HoHos and other convenience store delicacies, has filed for bankruptcy just … More

    Scribecast: Author Peter Schweizer Exposes the Permanent Political Class

    Peter Schweizer doesn’t have many friends on Capitol Hill these days. So few, in fact, that he was told not to even show his face at a congressional hearing on insider trading — even though that hearing was the direct result of his new book, “Throw Them All Out.” Schweizer, … More

    Report: 80% of DOE Green Energy Loans Went to Obama Backers

    A new book by Hoover Institution fellow Peter Schweizer details the startling extent of the cronyism that has pervaded President Obama’s “green jobs” push. According to Schweizer, 4 out of every 5 renewable energy companies backed by the Energy Department was “run by or primarily owned by Obama financial backers.” … More

    Exclusive Interview: Rep. Paul Ryan Blames Obama for Dividing America

    Rep. Paul Ryan (R-WI) is mighty disappointed with President Obama. The chairman of the House Budget Committee, who has bested Obama in head-to-head policy showdowns, blames the president for failing to outline a solution to the debt crisis while dividing America with talk of class warfare. Ryan’s speech at Heritage … More