CHARLOTTE – The Democratic National Convention’s Host Committee gave all us journalists a bag of goodies, by which the convention’s sponsors can put their names before us media types.
I love the pedometer brought to us by United Health Group, whose product — health insurance — was mandated and subsidized by Obamacare while Obama pretended to be battling the industry.
Duke Energy gets top billing on all the convention materials, and rightly so — the energy giant has issued a $10 million loan guarantee to cover the Democrats’ cost overruns in Charlotte.
But policywise, Duke also has a vested interest in making the DNC a success. Duke feeds at the trough of green-energy subsidies. In September 2011, Duke pocketed a $111 million grant for a wind farm in Wyoming. Andrew Stiles of the Free Beacon wrote in February that the company has received ”federal grants totaling $230.4 million for a number of ‘green’ energy projects.” And Duke lobbied for and stood to profit from Obama’s cap-and-trade efforts, which would drive more business to the company’s nuclear-power portfolio.
And Bank of America is also a key benefactor of the DNC and beneficiary of Obama policies. Senator Barack Obama in 2008 delivered the game-winning-RBI for the bank bailout that saved B of A from extinction. President Barack Obama expanded TARP in 2009 to be even more generous to banks.
Government-Owned Enterprise Freddie Mac gave Bank of America a massive sweetheart deal when it agreed to settle for $1.35 billion from B of A over the bank’s bad mortgages with misleading documentation — taxpayers, of course, ate those bad mortgages through bailouts to Freddie Mac, which had bought up the mortgages.
And before you try to claim that Obama whacked Bank of America with the Dodd-Frank financial regulation bill, recall that B of A’s CEO Brian Moynihan cut a $2,000 check to Barney Frank in late 2010 when it started to seem like Frank might lose. And there’s evidence Dodd-Frank protects the big banks from competition, thus helping them on net.
Our water-bottley-things and some of the shuttle-busses around Charlotte are courtesy of Piedmont Natural Gas, which operates natural-gas refueling stations that will benefit from the Obama administration’s fuel-economy rule favoring natural-gas-powered cars.
Heck, one sponsor of this convention is McGuire Woods, a K Street lobbying firm representing Pharmaceutical Research & Manufacturers of America, Duke Energy, Blue Cross Blue Shield, and plenty of other big businesses and industries.
The politically-connected Fanjul brothers are easily the biggest individual beneficiaries of the U.S. sugar subsidies and protectionism, which drive up the price we all pay for sugar. This boondoggle drives candymakers – and the jobs they create – out of the country. This year’s farm bill renews the sugar boondoggle, and President Obama has attacked House Republicans for not passing the farm bill yet.
And the Fanjuls’ Florida Crystals Corp. is a sponsor of the convention.
Wells Fargo is also on the sponsors list. They are TARP beneficiaries, plus Obama’s Export-Import Bank guarantees plenty of their loans to Wells. Wells lobbyist Oscar Ramirez is an alumnus of Obama’s campaign and Obama’s admininistration.
I could go on.