Amazon · Paperback : 464 pages
· ISBN-10 : 1560257156
· ISBN-13 : 978-1560257158
· Product Dimensions : 6 x 1.16 x 9 inches
· Publisher : Basic Books; Illustrated Edition (June 30, 2005)
· Language: : English
Like tentacles on a vast octopus, the firsthand investigations in The Blood Bankers all lead to one core. A financial detective of sorts, investigative journalist Jim Henry analyzes a range of scandals, including the looting of the Philippines by the Marcos family and the financial collapse of nations throughout the developing world. A rogues' gallery of international criminals owes its existence to the dramatic growth of the underground global economy over the last two decades. Our world is being reshaped, often in sinister fashion, by wide open capital markets and an international banking network that exists to launder hundreds of billions of dollars in ill-gotten gains . Here is an inside look at globalization's dark side—the new high growth global markets for influence-peddling, capital flight, money laundering, weapons, drugs, tax evasion, child labor, illegal immigration, and other forms of transnational crime.
About the Author
An attorney, former chief economist for McKinsey & Co., and vice president for strategy for IBM/Lotus, James S. Henry is also an investigative journalist who has written for many publications, including the New Republic, New York Times, Washington Post, U.S. News & World Report , and many other magazines and newspapers. One of the original "Nader Raiders," he is founder and managing director of the Sag Harbor Group (www.sagharbor.com), a strategy consulting firm with a special focus on technology strategy and business development.
Editorial Reviews
Review
A Financial Times Best Book of 2018 A Fortune magazine Best Book of 2018 Bad Blood is to biotech, Billion Dollar Whale is to international finance... a wonderful read... Thrilling."―Bill Gates Billion Dollar Whale traces the exploits of the most mercurial, mysterious big player in history. Jho Low is Gatsby with twice the bank account and ten times the ambition, and the stories surrounding his exploits leap right off the page!"―Ben Mezrich, New York Times bestselling author of The Accidental Billionaires and Bringing Down The House Billion Dollar Whale , by Tom Wright and Bradley Hope, is for you.... It almost seems made up. Still, anyone who has followed the news out of Malaysia will know that the story is all too real."―The New Yorker Jesse Eisinger, Pulitzer Prize-winning reporter for ProPublica and author of The Chickenshit Club New York Times Alexis Ohanian, co-founder of Reddit Billion Dollar Whale and was blown away. I thought I had seen it all with Russian kleptocracy, but the story of the money stolen in Malaysia in 1MDB and all the enthusiastic Western enablers was unbelievable."Bill Browder, #1 New York Times bestselling author of Red Notice Billion Dollar Whale . Bradley Hope and Tom Wright's gripping portrait of Jho Low and his enablers throughout the global financial system will both fascinate and enrage you."―Sheelah Kolhatkar, staff writer at The New Yorker and New York Times bestselling author of Black Edge
About the Author
Tom Wright was one of the first journalists to arrive at the scene of the raid in which Navy SEALs killed Osama bin Laden. In 2013, he spearheaded coverage of the collapse of the Rana Plaza factory in Bangladesh, which killed over 1,000 people, earning the Wall Street Journal a Sigma Delta Chi award from The Society of Professional Journalists. He is a Pulitzer finalist, a Loeb winner, and has garnered numerous awards from the Society of Publishers in Asia, which in 2016 named him "Journalist of the Year." He speaks English, Malay, French and Italian.Bradley Hope has worked for the Wall Street Journal for the last four years, covering finance and malfeasance from New York City and London. Before that, he spent six years as a correspondent in the Middle East, where he covered the Arab Spring uprisings from Cairo, Tripoli, Tunis, and Beirut. He was detained by authorities in Bahrain, reported from the front lines of the Libyan civil war, and has been teargassed in raucous Egyptian protests. Bradley is a Pulitzer finalist and a Loeb winner, and also author of Last Days of the Pharaoh , a chronicle of the final days and hours of the presidency of Hosni Mubarak.
Product details
· Item Weight : 12.8 ounces
· ISBN-10 : 031643647X
· Paperback : 416 pages
· ISBN-13 : 978-0316436472
· Publisher : Hachette Books; Ill
Obama’s State of Delusion ... OR JUST ANOTHER "Hope & Change" HOAX?
”The delusional character of Obama’s State of the Union
address on Tuesday—presenting an America of rising living
standards and a booming economy, capped by his declaration
that the “shadow of crisis has passed”—is perhaps matched
only in its presentation by the media and supporters of the
Democratic Party.”
http://mexicanoccupation.blogspot.com/2015/01/oxfam-richest-one-percent-set-to.html
“The general tone was set by the New York Times in its lead editorial on Wednesday, which described the speech as a “simple, dramatic message about economic fairness, about the fact that the well-off—the top earners, the big banks, Silicon Valley—have done just great, while middle and working classes remain dead in the water.”
OBAMANOMICS:
The report observes that while the wealth of the world’s 80 richest people doubled between 2009 and 2014, the wealth of the poorest half of the world’s population (3.5 billion people) was lower in 2014 than it was in 2009.
http://mexicanoccupation.blogspot.com/2015/01/oxfam-richest-one-percent-set-to.html
In 2010, it took 388 billionaires to match the wealth of the bottom half of the earth’s population; by 2013, the figure had fallen to just 92 billionaires. It fell to 80 in 2014.
THE OBAMA ASSAULT ON THE AMERICAN MIDDLE-CLASS
“The goal of the Obama administration, working with the Republicans and local governments, is to roll back the living conditions of the vast majority of the population to levels not seen since the 19th century, prior to the advent of the eight-hour day, child labor laws, comprehensive public education, pensions, health benefits, workplace health and safety regulations, etc.”
http://mexicanoccupation.blogspot.com/2015/01/oxfam-richest-one-percent-set-to.html
“In response to the ruthless assault of the financial oligarchy, spearheaded by Obama, the working class must advance, no less ruthlessly, its own policy.”
New Federal Reserve report US median income has plunged, inequality has grown in Obama “recovery” The yearly income of a typical US household dropped by a massive 12 percent, or $6,400, in the six years between 2007 and 2013. This is just one of the findings of the 2013 Federal Reserve Survey of Consumer Finances released Thursday, which documents a sharp decline in working class living standards and a further concentration of wealth in the hands of the rich and the super-rich. THE DEMOCRAT PARTY’S BILLIONAIRES’ GLOBALIST EMPIRE requires someone as ruthlessly dishonest as Hillary Clinton or Barack Obama to be puppet dictators. 1. Globalism: Google VP Kent Walker insists that despite its repeated rejection by electorates around the world, “globalization” is an “incredible force for good.”
2. Hillary Clinton’s Democratic party: An executive nearly broke down crying
3. Immigration: Maintaining liberal immigration in the U.S is the policy that Google’s executives discussed the most.
Why the rich favor the Democrats
By Peter Skurkiss
There's little doubt that today's Democrat Party is the party of the rich. Actually, that's an understatement. Far more than billionaires are involved. A better expression of reality would be to say a fundamental core of Democrat coalition is the managerial class, also known as the elite. These are the people who run the media, Hollywood and the entertainment industry, the big corporations, the universities and schools, the investment banks, and Wall Street. They populate the upper levels of government bureaucracies. These are the East and West Coasters.
The alliance of the affluent with the Democrat Party can be seen in the widely disproportionate share of hefty political donations from the well-to-do going to Democrats and a bevy of left-wing causes. It's also why forty-one out of the fifty wealthiest congressional districts are represented by Democrats.
BLOG: DEMS LOVE SOCIALISM FOR ILLEGALS TO KEEP THEM COMING AND BREEDING ANCHOR BABIES FOR WELFARE AND SOCIALISM FOR BANKS. TRILLIONS OF DOLLARS OF IT!
Bernie Sanders is an exception. But he's an anomaly viewed as dangerous to the party, which is why he's being crushed by the Democrat establishment.
Why do the wealthy align with the Democrats? The answer may seem counter-intuitive, but it is really quite simple. It's surely not ideals or high-minded principles. Nor is it ignorance. Rather, it boils down to raw self-interest.
In his book , The Age of Entitlement: America Since the Sixties , Christopher Caldwell notes that rich Americans think themselves to be as vulnerable as blacks. They are a relatively small minority of the population. They fear being resented for their wealth and power and of having much of that taken from them. Accordingly, the wealthy seek to protect what is theirs by preventing strong majorities from forming by using the divide and conquer principle.
As R.R. Reno writes when reviewing Caldwell's book: "Therefore, the richest and most powerful people in America have strong incentives to support an anti-majoritarian political system." He goes on: "Wealthy individuals shovel donations into elite institutions that incubate identity politics, which further fragments the nation and prevents the formation of majorities."
Some of the rotten fruit of the wealthy taking this approach include multiculturalism, massive immigration of diverse people, resistance to encouraging assimilation, racial strife, trying to turn white males into pariahs, and the promotion of gender confusion. Through it all, society is bombarded with the Orwellian mantra that "diversity is strength," as if repeating it often enough can make it so. It is also why patriotism and a common American culture are so disparaged today. Those from the upper strata of society project the idea that if you're a flag-waving American, you must be some kind of retrograde mouth-breathing yokel.
The wealthy as a groups are content to dissolve the glue that holds the U.S. together. And it is all done to enhance and preserve their power, wealth, and influence. This is why they so hate Donald Trump. He strives to unite people and the country, although you'd never know that that is what the president is doing if you live in the media bubble. Trump's MAGA agenda is an anathema to the managerial class.
To quote Reno one final time:
The next decade will not be easy. But it will not be about what preoccupied us in the sixties, and which Caldwell describes so well. Rather than the perils of discrimination we are increasingly concerned with the problem of disintegration — or in Charles Murray's terms, the problem of "coming apart."
Trump and the GOP he is molding are the vehicles to restore and strengthen national solidarity. Trump said at the Daytona 500, "No matter who wins, what matters most is God, family, and country." That is not the Democrat agenda. As seen in Democrat politicians, their policies, and the behavior of their major contributors, the aim is to further weaken the social and national bonds in America. There is a lot at stake here. If solidarity wins, the Republic can survive and prosper. If the Democrats and their wealthy cohorts do, then the middle class withers, the Republic dies, and the rich and their managerial class get to rule the roost. That is what it comes down to.
ALL BILLIONAIRES ARE DEMOCRATS. ALL BILLIONAIRES WANT WIDER OPEN BORDERS, AMNESTY AND HELL NO TO E-VERIFY!
In addition, establishment Republicans are no better than Democrats at stemming the flow of illegal immigration because big businesses reap the benefits of this cheap labor without incurring any of the social costs.
This is why the SEIU supports blanket amnesty for illegal aliens.
Democrats: The Party of Big Labor, Big Government...and Big Business By Antonio R. Chaves
There is a widespread perception that the Democrat Party is the party the working class and the Republican Party is the party of big business. Even though Republicans on average received slightly more from corporate employees prior to 2002, the overall difference between both parties from 1990 to 2020 is statistically insignificant (Table 1). In fact, Democrat reliance on big labor gradually shifted toward big business following the involvement of solidly Democrat corporate giants in 2002, and from 2014 to 2020, Democrats consistently surpassed Republicans in corporate donations (Tables 1 & 2).
Based on data compiled by Open Secrets, Soros Fund Management, Fahr LLC (Tom Steyer), and Bloomberg LP ranked among the top ten for political contributions that gave over 90% to Democrats. In sharp contrast, the right-leaning Koch Industries made the top ten only in 2014. In nearly all other years, Koch ranked well below the top twenty.
Whether or not this trend is long-term, there is no denying that large corporations on average no longer lean right. But what does it mean to be "the party of big business"? Donations are not definitive evidence. What ultimately matters is what politicians do once they get elected.
Many liberals believe that big government is needed to "rein in" big business and that in the absence of federal intervention, corporations will "run roughshod" over the average American. Many liberals also believe that corporations are the main beneficiaries of laissez-faire economics and that free-market conservatives who want to scale back regulations are somehow "in the pocket" of big business.
In reality, the opposite is true: big business and big government
go hand in hand because government meddling in the economy
encourages rent-seeking by businesses that can afford to pay
for the lobbyists. This crony capitalism grew exponentially as
a result of New Deal regulations that squeezed out competitors
during the 1930s. Establishment politicians and well
connected corporations are beneficiaries of the myth that big
government and big business are adversaries because it hides
their unholy alliance.
In all fairness, neither party has had a monopoly on the dispensation of corporate welfare: the TARP funds that propped up financial institutions deemed "too big to fail" during the Great Recession were released by the Bush administration. In addition, establishment Republicans are no better than Democrats at stemming the flow of illegal immigration because big businesses reap the benefits of this cheap labor without incurring any of the social costs.
If both parties are playing this game, what is the basis for labeling the Democrat party "the party of big business"? What policies from Republicans support small business?
Free-market conservatism benefits small businesses because the government does not pick the winners and losers by means of subsidies, tax breaks, and cumbersome regulations. You will not see policies like these coming from Washington in a major way because proposals for shrinking the federal government rarely see the light of day in Congress.
Based on data collected by Gallup and Thumbtack, red states far outscore blue states in small business friendliness (Table 3). This may be why less affluent Americans are fleeing states that score abysmally like California , Illinois , New York , and Hawaii . This might also be why small business–owners are more likely to vote Republican .
The Trump administration has been good for businesses of all sizes mainly due to the unprecedented rate at which it scaled back stifling regulations . This may be why some of the president's highest approval ratings now come from small businesses.
Donald Trump set himself apart from the ruling class when he latched onto the third-rail issue of illegal immigration and called out the corporate darling Jeb Bush (AKA "Low Energy Jeb") for his lack of grassroots support. This may explain in part why Bain Capital, the firm co-founded by Mitt Romney, switched teams and contributed solidly Democrat in 2018 . In 2012, Democrats accused Bain Capital of destroying jobs by systematically dismantling the companies it bought off. Times have changed...
Small businesses generate well over half of all new jobs . Most importantly, many are family-owned, have strong ties to their communities, and provide upward mobility for millions of Americans who never attended college. The Democrats' undermining of this quintessentially American institution is shameful and disqualifies it as the "party of the working class." Contributions from big labor do not count toward "labor-friendliness" because mega-unions care more about recruitment than about the welfare of working Americans. This is why the SEIU supports blanket amnesty for illegal aliens.
Democrats fed up with the corporate status quo are now choosing their own anti-establishment candidate, not realizing that socialism is just a more impoverished version of the crony capitalism they are rejecting. Many Sanders-supporters are also morally shallow because they want to harness the power of the state to muscle in on the wealth of Americans who borrowed responsibly and worked hard to pay their bills.
After the Constitutional Convention, Benjamin Franklin said, "This Constitution ... is likely to be well administered for a course of years, and can only end in despotism ... when the people shall become so corrupted as to need despotic government." If Democrats implement the dystopian policies of California on a national level, their corporate allies will do fine. It is small business–owners and working-class Americans with nowhere to flee who have the most to lose. Be careful what you wish for.
To view the tables below, click the links.
Table 1 : Top contributors to Democrats and Republicans as compiled by Open Secrets .
*The red lettering highlights a funding advantage for Republicans. The blue lettering highlights a funding disadvantage for Republicans.
**Based on a T-test, the difference is insignificant at P = 0.46
Table 2 : Top ten contributors to Democrats and Republicans by category (union, corporate, and ideological) as compiled by Open Secrets :
*In 2008 Goldman Sachs donated 74% to Democrats. All other groups in this column donated between 40 and 69% to both parties. This column does not differentiate between giving equally to both parties and giving 70–79% to Democrats or Republicans.
**This number includes the "City of New York." Although it is officially listed as "other" by Open Secrets (not corporate, union, or ideological), I was personally informed by someone from the organization that Michael Bloomberg was the main source of this funding.
Table 3 : Small business scores states scored by Thumbtack ranked according to their Democratic advantage by Gallup :
*GPA scores are based on the following numerical equivalents: A = 4, B = 3, C = 2, D = 1, F = 0, A+ = 4.3, A- = 3.7, etc.
** Not scored.
***Mean GPA ± standard error. Based on a T-test, the difference is significant at P = 0.00001.
Grim Reaper Mitch to Pelosi: I'm Going to Kill Your Stimulus Plan
Matt Vespa
House Speaker Nancy Pelosi just got some bad news from Mitch McConnell. Any talk about another stimulus isn’t going to happen. She may draft a bill, but it’ll meet a swift death in the Republican-controlled Senate. Mitch is the legislative grim reaper for most of what the Democratic House sends his way (via The Hill ):
Senate Majority Leader Mitch McConnell (R-Ky.) hit the brakes Tuesday on Speaker Nancy Pelosi’s (D-Calif.) plan to move ahead with a fourth stimulus package that would include major infrastructure spending and other Democratic priorities.
“I think we need to wait a few days here, a few weeks, and see how things are working out,” McConnell said on “The Hugh Hewitt Show.”
“Let’s see how things are going and respond accordingly,” he added. “I’m not going to allow this to be an opportunity for the Democrats to achieve unrelated policy items that they would not otherwise be able to pass.”
McConnell's remarks came the same day that President Trump encouraged Congress to pass a $2 trillion infrastructure bill as the next piece of coronavirus legislation.
Pelosi is also mulling a rollback of the SALT taxes, which would be nothing short of a giveaway to millionaires. And by the giveaway, it would be something of a $620 billion tax cut for them. Remember, this is the party of the working people, or so they say, and a part of me hopes she goes aggressive on this, so we can see Bernie Sanders gum up the Democratic works for a bit. There is no way a hardcore lefty would back this nonsense. Yet, there’s another reason why Mitch isn’t rushing on the House Democrats’ stimulus reloaded plans. They’re off. They won’t be back to work until April 20. And The Hill
THE OBAMA – BIDEN BANKSTERS CON JOB STARTED BEFORE HIS FIRST DAY IN OFFICE!
GET THIS BOOK!
Obamanomics: How Barack Obama Is Bankrupting You and Enriching His Wall Street Friends, Corporate Lobbyists, and Union Bosses
BY TIMOTHY P CARNEY
Editorial Reviews
Obama Is Making You Poorer—But Who’s Getting Rich?
Goldman Sachs, GE, Pfizer, the United Auto Workers—the same “special interests” Barack Obama was supposed to chase from the temple—are profiting handsomely from Obama’s Big Government policies that crush taxpayers, small businesses, and consumers. In Obamanomics, investigative reporter Timothy P. Carney digs up the dirt the mainstream media ignores and the White House wishes you wouldn’t see. Rather than Hope and Change, Obama is delivering corporate socialism to America, all while claiming he’s battling corporate America. It’s corporate welfare and regulatory robbery—it’s Obamanomics.
Congressman Ron Paul says, “Every libertarian and free-market conservative needs to read Obamanomics.” And Johan Goldberg, columnist and bestselling author says, “Obamanomics is conservative muckraking at its best and an indispensable field guide to the Obama years.”
If you’ve wondered what’s happening to America, as the federal government swallows up the financial sector, the auto industry, and healthcare, and enacts deficit exploding “stimulus packages,” this book makes it all clear—it’s a big scam. Ultimately, Obamanomics boils down to this: every time government gets bigger, somebody’s getting rich, and those somebodies are friends of Barack. This book names the names—and it will make your blood boil.
Investigative reporter Timothy P. Carney digs up the dirt the mainstream media ignores and the White House wishes you wouldn’t see. Rather than Hope and Change, Obama is delivering corporate socialism to America, all while claiming he’s battling corporate America. It’s corporate welfare and regulatory robbery—it’s Obamanomics. In this explosive book, Carney reveals:
* The Great Health Care Scam—Obama’s backroom deals with drug companies spell corporate profits and more government control
* The Global Warming Hoax—Obama has bought off industries with a pork-filled bill that will drain your wallet for Al Gore’s agenda
* Obama and Wall Street—“Change” means more bailouts and a heavy Goldman Sachs presence in the West Wing (including Rahm Emanuel)
* Stimulating K Street—The largest spending bill in history gave pork to the well-connected and created a feeding frenzy for lobbyists
* How the GOP needs to change its tune—drastically—to battle Obamanomics
Praise for Obamanomics
“The notion that ‘big business’ is on the side of the free market is one of progressivism’s most valuable myths. It allows them to demonize corporations by day and get in bed with them by night. Obamanomics is conservative muckraking at its best. It reveals how President Obama is exploiting the big business mythology to undermine the free market and stick it to entrepreneurs, taxpayers, and consumers. It’s an indispensable field guide to the Obama years.”
—Jonha Goldberg, LA Times columnist and best-selling author
“‘Every time government gets bigger, somebody’s getting rich.’ With this astute observation, Tim Carney begins his task of laying bare the Obama administration’s corporatist governing strategy, hidden behind the president’s populist veneer. This meticulously researched book is a must-read for anyone who wants to understand how Washington really works.”
—David Freddoso, best-selling author of The Case Against Barack Obama
“Every libertarian and free-market conservative who still believes that large corporations are trusted allies in the battle for economic liberty needs to read this book, as does every well-meaning liberal who believes that expansions of the welfare-regulatory state are done to benefit the common people.”
—Congressman Ron Paul
“It’s understandable for critics to condemn President Obama for his ‘socialism.’ But as Tim Carney shows, the real situation is at once more subtle and more sinister. Obamanomics favors big business while disproportionately punishing everyone else. So-called progressives are too clueless to notice, as usual, which is why we have Tim Carney and this book.”
—Thomas E. Woods, Jr., best-selling author of Meltdown and The Politically Incorrect Guide™ to American History
*
• Hardcover: 256 pages
• Publisher: Regnery Press (November 30, 2009)
• Language: English
• ISBN-10: 1596986123
• ISBN-13: 978-1596986121
Chuck Schumer Pushes Tax Cut for Richest 1% in Coronavirus Relief Bill AP Photo/Matt Rourke
16 Jul 2020 34
4:32
Senate Minority Leader Chuck Schumer (D-NY) is pushing for a repeal of the state and local tax (SALT) deduction cap in the next round of coronavirus relief — giving a tax cut to the wealthiest 1% of taxpayers, especially in “blue” states.
In his landmark tax reform law, the Tax Cuts and Jobs Act of 2017, President Donald Trump and the Republicans offset some of the revenue losses from low tax rates by restricting deductions. The law capped the SALT deduction at $10,000.
Previously, those taxpayers wealthy enough to file a list of itemized deductions could count all
Trump ended the deduction — at some political cost to himself. Republicans went on to lose congressional seats in wealthy suburbs in high-tax Democrat-run states. Orange County, California, for example, flipped entirely to Democrats.
But Democrats still want to repeal the SALT cap, regardless, because they want their state and local governments to avoid tax cut — and because their wealthy campaign contributors want to be subsidized, once again, by the rest of the country.
Even Seth Hanlon, a former Obama administration official who is now a senior fellow at the left-wing Center for American Progress, has protested against Schumer’s idea, noting that repealing the SALT cap would help “the top 1%.”
Come on, not this again.
Repealing the SALT cap for 2020-21 would be a $137 billion tax cut, with about 63% going to the top 1%.
It does nothing for states and localities except potentially crowd out the actual fiscal relief they urgently need. https://t.co/jlSjIhnzpq
— Seth Hanlon (@SethHanlon) July 15, 2020
Here is the national distribution of the tax cut from repealing the SALT cap, via @iteptweets .
A tiny percentage of middle-income people get any benefit.
The top 1% gets 63%: an avg. $35k tax cut for them.
The top 5% gets 87%.
The bottom 80% get literally 1% of the benefit. pic.twitter.com/8EIav7wgcJ
— Seth Hanlon (@SethHanlon) July 15, 2020
Here is the distribution just for New York. Largely the same story. A few more middle-income people benefit a little compared to nationwide, but still, the tax cut goes overwhelmingly to top one-percenters. Not the people most affected by COVID!!! pic.twitter.com/Dp0evxq3P7
— Seth Hanlon (@SethHanlon) July 15, 2020
The basic story is the same in every state. State by state estimates are here. https://t.co/1KREhnb6et
— Seth Hanlon (@SethHanlon) July 15, 2020
The Democrat-run House of Representatives has already passed a repeal on the SALT cap that would be effective for two years.
According to The Hill , “Schumer urged Senate Majority Leader Mitch McConnell (R-Ky.) [on Tuesday] to ‘join the House, and join the Democrats in the Senate, and get rid of that cap.'”
Schumer also vowed to make the SALT deduction — the effective tax cut for the 1% — permanent: “If I become majority leader, one of the first things I will do is we will eliminate it forever,” he added, according to The Hill
Joel B. Pollak is Senior Editor-at-Large at Breitbart News and the host of Breitbart News Sunday on Sirius XM Patriot on Sunday evenings from 7 p.m. to 10 p.m. ET (4 p.m. to 7 p.m. PT). His new book, RED NOVEMBER , tells the story of the 2020 Democratic presidential primary from a conservative perspective. He is a winner of the 2018 Robert Novak Journalism Alumni Fellowship. Follow him on Twitter at @joelpollak .
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