Category Archives: Wealth

Headline of the day: Pay to play with Hillary


From the Washington Post:

Emails reveal how foundation donors got access to Clinton and her close aides at State Dept.

  • A sports executive who was a major donor to the Clinton Foundation and whose firm paid Bill Clinton millions of dollars in consulting fees wanted help getting a visa for a British soccer player with a criminal past.
  • The crown prince of Bahrain, whose government gave more than $50,000 to the Clintons’ charity and who participated in its glitzy annual conference, wanted a last-minute meeting with Secretary of State Hillary Clinton.
  • U2 rocker and philanthropist Bono, also a regular at foundation events, wanted high-level help broadcasting a live link to the International Space Station during concerts.

Quote of the day: Opulance-shrouded corruption


Once again, the Bard of Avon nails it, the Time in King Lear, Act IV Scene VI:

Through tatter’d clothes small vices do appear;
Robes and furr’d gowns hide all. Plate sin with gold,
And the strong lance of justice hurtless breaks:
Arm it in rags, a pigmy’s straw does pierce it.
None does offend, none, I say, none; I’ll able ’em:
Take that of me, my friend, who have the power
To seal the accuser’s lips. Get thee glass eyes;
And like a scurvy politician, seem
To see the things thou dost not.

Chevron’s malignant legacies in Ecuador, Bay Area


In the second of three programs on the brutal policies of a global oil giant [first part here], Abby Martin looks at the lethal pollution of Ecuador’s land and water by an American oil giant, a bizarre U.S. court ruling made by a judge who owns stock in the company, the the firm’s heavy-handed politics in Richmond, California.

During our six years at the Berkeley Daily Planet, we covered environmental politics in nearby Richmond, one of the San Francisco Bay Area’s poorest communities, and watched as Chevron Texaco fought to control city council elections to ensure that operations at the company’s massive refinery were unhindered by council members’ concerns about dangers to the health and safety of their constituents.

Martin lived nearby and saw firsthand how the company spared no expense in courts and in political and public relations campaigns, and we’re glad that the issue will gain wider exposure through her efforts.

And now, one with the shot.

From teleSUR English:

The Empire Files: Chevron vs. the Amazon – The Environmental Trial of the Century

Program files:

In Part II of this three-part series, The Empire Files continues the investigation into the battle between Chevron Texaco and Ecuador.

In this installment, Abby Martin uncovers what really happened throughout the 22-year legal battle between the oil corporation and indigenous Amazonians, interviewing lead attorney for the case, Pablo Fajardo.

This episode also chronicles the shameful, scandalous history of Chevron Texaco—from the support of Hitler’s Nazi movement, to backing war crimes in Myanmar—and its retaliatory attacks against its victims.

Charts of the day II: Economic malaise and divides


BLOG Incomes

From the Washington Center for Equitable Growth, which notes:

Of all the indicators describing the not-very-impressive U.S. economic performance of the first decade-and-a-half of the 21st century the least impressive is probably median household income. It hit an all-time high in 1999 of $57,843 (converted into 2014 dollars), and as of 2014 stood at $53,657–a 7.2 percent decline…. The typical American household remains poorer than it was 16 years ago.

The states that have struggled the most tend to have manufacturing-intensive economies (Delaware and Nevada are the exceptions). Also, it’s worth pondering for a moment just how bad things have been in some of these states. The typical household in Michigan and Mississippi was more than 20 percent poorer in 2014 than in 1999. And Mississippi, which had the fifth-lowest median income in 1999, was dead last in 2014, with a median household income ($35,521) less than half that of Maryland, the most-affluent state.

Headline of the day: Another kind of hero


Following up on our previous post, a high achiever and an act of nobility, via the London Daily Mail:

Katie Couric took a $1 million pay cut to prevent layoffs at CBS Evening News when she was anchor

  • Katie Couric took $1 million pay cut when she hosted CBS Evening News 
  • A new book has revealed the journalist took the cut to prevent layoffs
  • Said she didn’t want any public or private acknowledgement of gesture 

Chart of the day II: Recreational marijuana sales


From Marijuana Business Daily, monthly sales of recreational marijuana in the three states where it’s now legal. Should California go green in November, the Golden State should top the list:

BLOG Weed

Trump companies in debt to China, Goldman Sachs


But of course. . .

Both candidates operate behind financial shields; Hillary through a family foundation and the Trumpster. . .well.

From the New York Times:

{A]n investigation by The New York Times into the financial maze of Mr. Trump’s real estate holdings in the United States reveals that companies he owns have at least $650 million in debt — twice the amount than can be gleaned from public filings he has made as part of his bid for the White House. The Times’s inquiry also found that Mr. Trump’s fortunes depend deeply on a wide array of financial backers, including one he has cited in attacks during his campaign.

For example, an office building on Avenue of the Americas in Manhattan, of which Mr. Trump is part owner, carries a $950 million loan. Among the lenders: the Bank of China, one of the largest banks in a country that Mr. Trump has railed against as an economic foe of the United States, and Goldman Sachs, a financial institution he has said controls Hillary Clinton, the Democratic nominee, after it paid her $675,000 in speaking fees.

Real estate projects often involve complex ownership and mortgage structures. And given Mr. Trump’s long real estate career in the United States and abroad, as well as his claim that his personal wealth exceeds $10 billion, it is safe to say that no previous major party presidential nominee has had finances nearly as complicated.

As president, Mr. Trump would have substantial sway over monetary and tax policy, as well as the power to make appointments that would directly affect his own financial empire. He would also wield influence over legislative issues that could have a significant impact on his net worth, and would have official dealings with countries in which he has business interests.

Yet The Times’s examination underscored how much of Mr. Trump’s business remains shrouded in mystery. He has declined to disclose his tax returns or allow an independent valuation of his assets.

So you’ve got the Clinton foundation, bankrolled by Goldman Sachs, oil sheikhs, and a host of major corporations, and you’ve got Trump, bankrolled by some the those very same people.

Like our pappy always said, “In America, you’ve got the best politics money can buy.”