Corruption


Is, in a word, government.

All the passionate talk about the personalities and potential crimes of the presidential candidates has obscured debate about what the federal government actually does. Both Trump and Clinton promise to spend us to oblivion taking care of various collectivist groups: vets, seniors, farmers, military contractors, teachers, etc.

But that spending (and inevitable taxing) serves one overriding purpose: to make the people in Washington D.C. ever richer and more powerful. Its a bipartisan bonanza. Yes, the money will trickle down to those constituents I listed above. But the politicians, lobbyists, regulators, and other government employees take their cut first. All that money requires programs and administration. Who does that? Why the people who work in government. And what is the result?

Kevin Williamson explains. I tease you with this: “But Washington builds no iPhones. It doesn’t really build much of anything, and it doesn’t create any wealth — it just takes it.

Here.

Both parties, Democrats and Republicans, are getting closer to letting the FBI access your personal information without accountability. Getting a court order provides some oversight by a judge, depending on the integrity of the judge.

This is another bureaucracy on autopilot, leaving our elected officials unaccountable for its actions. The IRS comes to mind and both parties support this corruption.

All those partisan pundits cheering their side and booing the other have zero credibility and no principles.

Definitely time for a third party, and make it Libertarian.

Here.

House Minority Leader Nancy Pelosi (D-Calif.) and Rep. Steve Israel, the chairman of the Democratic Congressional Campaign Committee, have called for an investigation into Rep. Anthony Weiner (D-N.Y.) over the series of sexually explicit conversations and lewd photos he exchanged with a half-dozen women during the last several years.

Don’t buy it. Calling for a congressional investigation is a tactic to bury the story and exonerate, not roast, er, get to the bottom of, Weiner’s behavior. Here.

Gee. Why is that? Background:

The professors reviewed more than 16,000 common stock transactions carried out by about 300 House members as revealed in the members’ financial-disclosure forms from 1985 to 2001.

Here. Two clarifications: 1) all corporate employees are restrained by insider trading laws, not just executives. It isn’t legal for non-executives to trade on insider information. 2) These laws are not limited to Wall Street. Again, the article is not clear. It isn’t legal for employees in industries other than financial services to trade on insider information.

MOSCOW -(MarketWatch)- HSBC Holdings PLC (HSBA.LN) is closing its Russian retail banking operations, retaining only an office for corporate lending, as international lenders faces growing challenges in a market dominated by state-controlled giants.

HSBC’s retail exit follows that of Barclays PLC (BARC.LN), which in February said it would sell its retail operations in Russia after taking a writedown of GBP243 million on an acquisition. In addition to Russia’s perenially poor investment climate, foreign financial firms in Russia have faced heightened bureaucracy and scrutiny from regulators who have close ties to the biggest state-controlled banks, OAO Sberbank (SBER.RS) and VTB Group (VTBR.RS).

Here. The concepts are the same in the U.S. as in Russia, they just appear different. In the U.S. and other so-called free countries, firms are controlled by regulations, subsidies, and threats. The people who work in these firms are not free to make decision based on what they think is best for the firm, they have to abide by what the politicians impose on them.

Sen. Charles Schumer has waded into the stock-exchange takeover wars, demanding Nasdaq OMX Group Inc. and IntercontinentalExchange Inc. provide details of potential job losses should they succeed in their joint bid to buy NYSE Euronext.

In a letter expected to be sent to the heads of Nasdaq and ICE on Monday, Sen. Schumer (D., N.Y.) is seeking more information on the companies’ planned cost cutting, a person familiar with the matter said.

Here. Tyrants are always demanding something from their subjects citizens. They think they own everything.

The dead hand of government dependency does this to just about everything it touches. Here.

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