Beltway Confidential

Political Capital: The sordid intersection of business and government

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Beltway Confidential,Business,Timothy P. Carney,Warren Buffett,Analysis,Fundraising

The game is rigged against the little guy and in favor of the big guy. Government does most of the rigging. Some stories I came across today:

  • Billionaire Obama fundraiser Warren Buffett took some time over dinner to thank bailed-out Barney Frank donor Brian Moynihan, CEO of Bank of America, for taking good care of Buffett’s billions in Moynihan’s taxpayer-backed bank.
  • “Lawmakers assembled in Baton Rouge approved two economic incentive packages Thursday for Sasol and Lockheed Martin, just one week after expressing concerns about their cost. Louisiana’s chief economist said the projects would result in a net cost to the state” New Orleans Times-Picayune.
  • Sometimes crazy-successful entrepreneurs aren’t motivated by profit, but by being awesome. Noah Millman at the American Conservatives speculates that’s what’s driving Jeff Bezos to buy the Post.
  • “U.S. lawmakers are once again taking advantage of their summer recess to race around the globe on privately financed tours to places like China, the Middle East and Scotland – trips watchdog groups cite as evidence that congressional ethics reforms are unraveling.” -Reuters
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