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Saturday, October 22, 2016
Wyoming’s Teton Pines Country Club

“Crony capitalism” is the latest indictment lodged against the Obama administration by Mitt Romney, who knows all too well the meaning of that term. As a private equity operator, he thrived in a financial sector that has always relied heavily on tax advantages, pension bailouts, state investments, and a panoply of other benefits conferred by elected officials expecting campaign contributions. Within the past few weeks, even as Romney loudly castigated the alleged cronyism practiced by the Obama White House, he attended fundraisers hosted by two of the nation’s legendary beneficiaries of tainted government largesse.

The Hamptons fundraiser for Romney that instantly became infamous — owing to the snobbish, boneheaded remarks of the donors pulling up in their gold-plated vehicles ––  occurred at the Creeks, the huge gated compound on Georgica Pond owned by Ronald O. Perelman. Long one of America’s wealthiest investors, Perelman is a bipartisan crony who greases both sides in order to protect his own interests. Much was made of the fact that he maxed out to Barack Obama in 2008 and now supports Romney.

Years before anyone ever heard of Obama or Romney, however, Perelman became notorious for the sweetheart deal bestowed upon him in the aftermath of the savings and loan debacle. In December 1988, the Reagan-Bush administration eagerly rewarded him for taking over several thrift institutions left insolvent in the financial orgy of speculation and thievery that followed deregulation.

While most Americans were left holding the bag, in the form of a trillion-dollar bailout and a sharp recession, Perelman, then already the fifth-richest man in the country, walked away with a mind-boggling bonanza of property and tax benefits. For paying a paltry $315 million, he and his associates received $7.1 billion in sound assets, $5.1 billion in cash to indemnify bad loans, and at least another billion dollars worth of special tax breaks.

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Copyright 2012 The National Memo
  • bcarreiro

    The biggest bundler to Mitts campaign must be George bush jr. thats why he just crawled out of the rock he was under stating his time in office was”awesome”. Lets start looking into where the republicans (who block the bill) are investing in now. This is why they are blocking and trying to hide disclosures. They are stomping on their own people, cant they see what they have done to america already. More crime, violence, robberies and the RECESSION we are all in.

    • ExPAVIC


      Ask Mittens, Rove, Stevens and Cheney about the missing Iraq Reconstruction Projects money Halliburton ran off with.

      Vanity Fair Magazine has been asking about this money for over a year.

      • I agree, Mittens will only be a warm body, a puppet in the hands of Cheney, that’s why the fundraiser at Cheney’s home. Mittens is selling his soul to the devil. Cheney is not done being at war, it’s big business for his pockets. All Romney wants is the seat and the perks of the presidency, the job/operations not so much that will be his Super Pacs job.

        • DurdyDawg

          Your correct about Riceoromney.. He’s someone’s (pick a toad) puppet.. Why else would he say, “We’ll deal with the real issues once I’m in office”..? It gives his masters time to conjure up more lies for him to spew.



    By the way Dick Cheney, what happened to the $8 Billion in CASH paid to Halliburton for Iraq reconstruction projects which were never started? Don’t you think that money should be returned to the U.S. Treasury or are you going to use it to produce and televise political advertisements for Mittens and the rest of the American Taliban Republican plutocratic obstructionists?

    Maybe if we are lucky you will use some of those funds, get caught using them and end up with your worthless butt in jail.Do they have good cardiac doctors in prisons? You should be finding out. You crook.

    • And Cheney Had The NERVE Give A Speech Before Congress To Get More Money To The Arm Forces And It Blew Up In His Face!! LOL Damn War Monger!!! I Say Let’s All Chip In And Buy This THUG A One Way Ticket Overseas Where They Looking To Bring His Butt On Charges For War Crimes!!

      • rustacus21

        …much less, in relation to wasted lives, wasted trillions on war or ‘war crimes’, which have made the scoundrels from the last administration PRISONERS in their own country!!! We REALLY need to elect Liberal/Progressives w/just, virtuous orientations, to progressively higher office & lose this fear if they don’t produce in a given time frame – say year ONE – that they’re impeached, recalled, or whatever. The solution for conservatives is far simpler: by way of their history, just stop voting for them at ALL!!!

    • rustacus21

      … these are the commentary that eludes pop media… or should I say ‘corporate’ media… I have never even heard the word uttered or see it written ‘crony capitalism’, ‘plutocracy’ or ‘authoritarianist’, in relation to conservatives or their policy ‘inclinations/orientations’…

  • AlfredSonny

    Since George Romney calls his son, Mitt, a fluke, does it mean that his friends such as Dickie are flukes, too?

  • howa4x

    This is a tactic of painting the other pereson with what you really do. Everyone knows Romney’s time on Wall street made him king of the crony capitalism

  • jarheadgene

    EXCELLENT ARTICLE….too bad FAUX News won’t touch it….they are part of the Cronies for ROMNEY.

    • Don

      I just hope and pray that George H. Bush doesn’t pass his Parkinson’s onto his two boys, Jeb and George.

    • Fox news wont touch it because it is dripping in Liberla inaccuracies . fox reports facts unlike the Liberal Clown Car Networks and their Comedian Pundits …baaa Baaaa

    • Fox Fake News That Hire Sarah Palin Crazy A-s!! Own And Operated By The American Taliban!!! The Only News Station That Make Up Sh*t As The Day Goes On In Their Favor!!

  • jarheadgene

    DICK CHENEY….draft-dodger, chicken-hawk, war criminal, Canadaphobe…..please read LUKE 12:16 The Parable of the rich fool. I hope you also saw former Sec State Powell’s former aid on TV last night. He is a man brave enough to put a US uniform on..ret. Colonel. He seems to HATE you. Gee I can only begin to guess why. Your day is coming DICK oooooohhh you’re scared of Canada… wait ’til Judgement Day…..”YOU AIN’T SEEN NOTHING YET!” REPENT like, Dicken’s “Scrooge”, you may be able to try and make it up to those fallen men and women that died for your lies and your greed. FYI to everyone…he was in DC yesterday trying to make sure they don’t make any cuts to the DOD, not that that TRICKLES down to the troops. Contractors like Halliburton / KBR , Lockheed get the bulk of it.

    • Let’s not take our eyes off the Former Secretary of Defense (Snow Flakes)–he
      belongs in prison too for war crimes.

      It is interesting to see how these guys are making millions of dollars in speaking
      engagements and publishing books.

      These public officials make the Drug Cartels in Mexico look like Boy Scouts!

      What ever happen to General Tommy Franks? He has been keeping a low
      profile for a reason. He wrote the war plan for Irag which turn out to be a
      complete disaster.

  • Many of Mitts followers on Yahoo think he came from modest means. They often mentions that him and his wife live in a 75 dollar a month, basement apartment, while in college, as proof. His followers are simple minded people who seldom think about the information they accept as fact. They would not even begin to understand what this article is talking about. Hopefully it will help with the more discriminating people who think before they give their vote to anyone. I actually had a niegbor say she is going to vote for Romney because he is so handsome. I am working on her.

  • The difference between the crony capitalism of Bush and Obama is that the companies that Bush backed and those that Obama has given money to is the Bush cronies’ companies succeeeded and didn’t cost the AMerican taxpayer billions of dollars, unlike those Obama bundlers who squandered AMerican taxpayers’ money to line their own pockets.
    I don’t know why you put a picture of Dick Cheney in this article. His vice presidency cost us at Haliburton billions in contracts we never even tried for because of the poisonous political climate, even though he was no longer with the company.

    • metrognome3830

      Don’t despair, Todd. I predict that Haliburton will survive — and even prosper — in spite of all the business you had to walk away from because of Cheney. Hell, they still have you, don’t they?

  • nomaster

    Of course they love each other and support each other, Willard the Rat Man is one of them and they believe in sharing the wealth amongst themseelves while the tax payer pays the tab to make their lives lucritive and full of oodles of fine things and fun. Who cares about the working man and woman and their measly little lives as long as they pay the bills. Show us your tax returns Willard the Rat Man, they probably have a lot to say about you. Maybe someday you can own a state and Halliburton just like the big phony Tricky Dicky Chaney.

  • There is no love or compassion in Dick Cheney’s eyes…… his ‘ leer’ has given me the willies since he came onto the political scene. News for the ‘cronies’…… You have sucked the life out of this country! Time to give back to those that you have stolen from or at the very least give us time to rejuventate! Go away!!……. We are tired of your constant manipulation of our tax dollars to fund your excessive greed!

  • If you really want to piss me off, just put Dick Cheney’s face on view where I can’t avoid seeing it. Cruel and unusual punishment.

    • YepThatTell

      That he still walks this earth really pisses me off.

  • Don

    I wonder why our President is respnsible for getting a job for everyone, when the Republican House refuses to pass this Bill onto the Senate. I don’t know any President responsible for getting someone a job. The only President to do that was FDR who developed Job Core Programs. So will MR see to it that everyone has a job when he comes to office or will he ONLY give jobs to the very rich?

    • It Will Be The Same Old Trickle Down Crap The American Taliban Been Rerunning For Years Now!! Mr Strip And Ship Will Be Getting Nobody Jobs Here, Cause If He Get The Keys To The Throne The Only Jobs To Be Had Will Be In China, Korea, India, And Anywhere But Here!! That What He Do Ship Jobs Overseas For The Cheap Labor!!

  • ObozoMustGo

    Dick Cheney is a great man and a true patriot! You leftist nutjobs hate him because he always was too smart for you fools, and smacked your leftist heros down at every turn. But that’s not the point here.

    The point is that on a site that is an extension of the Obozo campaign propaganda machine, they would have the balls to actually do an article slamming anyon OTHER THAN OBOZO for “crony capitalism”.


    Supporters of a Chicago Thug politician complaining about crony capitalism??????


    Cut it out! You killin me!!!! HAHAHAHAHAHAHAHAHAHAA!!!!!

    ROFLMFAO!!!!!!!!!!!!!!!!!!!!! Bwwwwaaaaaaaaaaaaahahahahahahahahahahaha!!!!!!!!!!!!!!!!!!

    Just in case you morons werent paying attention, Obozo’s the single most corrupt politician in American history. He makes Nixon look like Mother Theresa.

    Obozo has spread more favors and more money to his buddies through his so-called “stimulus” plan and every other program, especially through DOE and the takeover of GM & Chrysler.

    Have any of you idiots wondered why it was ONLY Republican supporting GM dealerships that were closed?

    Have any of you useful idiots wondered where $900 BILLION in stimulus actually went? Does union payoffs ring a bell?

    I could go on and on and on and on and on with this jackwad of a corrupt president. No time though.

    Have a nice weekend!

  • You people make me sick . what happened to the Party of Compassion ? there are people dead in Colorado and even the Communist in thief isnt Politicking today …Give it a break sheeple

  • The feces just called the anus smelly.

  • So, was Mary the bride or the groom?

  • This country went down the rabbit hole. Do I need ask why any of these guys didn’t go to jail? Were they indicted? Where are the “we the people”?

  • Cheney and Bush were the best team going since Bergan and Charlie McCarthy. When Cheney stood behind Bush while Bush gave a State of the Union message, you never saw Cheney’s lips move. A real talent! He should be indicted for his part in “crony capitalism”. Hallkiburton’s actions were agregious and on top of that recipients of “no-bid contracts”.
    Mittens is in good company if he wants to collect the bucks for his campaign–as far selling his soul for anything he could gain the question to ask is “What soul?”. This bag of crooks are totally un-American and should be subject to MUCH public and congressional investigation.

  • daniel bostdorf

    As usual, Joe, your clear premise supported by deadly facts are a hallmark of your writing. What has happened, however, is that “mainstream media” has generally failed to educate the populace and/or continue to follow up on these stories. The “bumper sticker” slogan solutions offered by Teaparty and other ignorant people should be vigorously exposed for what they are.

    The problem is that our current society does not have the ability to relate one action to another or see a 40 year trend. The destruction of a solid “liberal arts” education, consisting of humanities, comparative religion and Heglian history (among others) has created this narcissistic society.

    Instead of celebrating tolerance and constructive dialogue, society today worships celebrity and crazed facist thought (of FOX News, Glenn Beck and that ilk) disguised as civil discourse.

    At least with Joe Conason, we get clear thinking and the facts surrounding “crony capitalism” tied up with a sense of history that is sorely needed in today’s “journalism.”

  • I didnt realize that individuals are allowed to post here that have clearly been drinking way before noon. Or have the complete inability to offer anything constructive.

    Where are the moderators of this stuff?


  • William Deutschlander

    The REPUBLICAN CARTEL just continues to buy up Senators and Representatives then LIES and extorts money from government and everywhere else. The Republicans have no need for guns, they are capable of getting enough ignorant nonthinking serfs to follow them to implosion of Democracy!

  • montanabill

    Crony capitalism? Two words: Immelt, Solyndra.
    Fund raising with the rich? Have you so quickly forgotten Obama’s Hollywood and New York parties?
    This is simply a case of the old adage that when you point a finger, 3 are pointing back at you.

    • ExPAVIC


      The Hollywood and New York rich are small potatoes compared to Koch, Cheney, Trump, etc. Who are you kidding?

      Wise up, this is a class struggle election.If the Taliban Republicans loose this one they won’t get in again until 3216 AD.

      • montanabill

        Seems to be a class struggle between the filthy rich and the super rich and you lose. If doing fund raisers could help the economy, this country would be on the road to real recovery. Unfortunately, the fund-raiser-in-chief, who has done three times as many as Bush had ever done by this point, sees his job as saving his job, not yours.

        • ExPAVIC


          Go chase a sheep at your next family reunion.

  • Well, all of you guys, better prepare for the avalanche of votes for Romney and against Ovomit come November !!
    Ovomit has been, without a doubt, the WORST President EVER !!
    You are going to get your sorry as…, er, fannies, whipped in November….

    • Worst president ever…really!! Can you list me just one positive thing that was accomplished in 8 years under bush?? aside from the No Child Left Behind disaster which failed an has helped drive many states to the point of bankruptcy; or the Medicare Prescription Drug benefit which was never paid for and is adding every year to our deficits; or the unwarranted tax cuts that have allowed the rich to line their pockets even more and have helped Bush run up 8-10 trillion in deficits (most of the deficits under Obama are really chargeable to Bush); or the unwarranted war in Iraq that killed about 5,000 americans and have added trillions to the debt; or the being in charge when 9/11 happened and being so caught up with trying to figure out how to start a war in Iraq that you missed all the signals; or the complacency that allowed the financial and housing disaster to come to a head in 2008…in a very similar fashion to what happened under Coolidge (another GOP president) which ended up resulting in a stock market crash and allowed Hoover (another GOP president) to turn a situation similar to what Obama inherited into a world depression; whereas Obama has at least managed keep the GOP from turning a similar situation into their second created depression.. So where are all of Bush’s accomplishment s? I can’t think of one. At least Obama got Bin Laden when Bush didn’t; he ended the Iraq war as he promised; he followed through on the auto bailout and tarp and other projects which have resulted in creating more than 4,000,000 jobs over the past 3 plus years, which by the way is a million more jobs than were created under Bush in eight years. There’s worst president this country has ever seen and we can hope is never topped.

  • I’m puzzled by something. An investment study done by the NY Times a while back showed a startling disparity between the stock market investment performance under GOP presidents and Dem presidents. The study showed that starting back in 1929, $10,000 invested in the stock market’s performance experienced for 40 years under Dem presidents would have grown to about $300,671; whereas, $10,000 invested for a 35 year period under GOP presidents would have only grown to $11,733. A return rate under Dem presidents of almost 10% and a rate less than 1% under GOP presidents. And with the market up over 50% under Obama it’s actually pushed the performance under Dems to over 10%. What’s puzzling me is why anyone in their right mind with money in the stock market would vote for a GOP administration. Does someone have a clue as to why so many billionaires, who you would expect would have lots of money in the market, would be putting so much of their money behind Romney? Seems pretty counter productive to me.

  • Crony capitalism is the iota of American socio-political problems and Romney is the leader of the nightmare.

  • rustacus21

    Our tendency is often to throw phrases around like ‘criminal’, or ‘evil’, w/out much thought. In this case, the history speaks for itself & considering this is who Romney is alligning himself with, we have every reason to be in absolute terror that 2001-2009 would be rerun if Romney is elected. But of course, conservative voters see this as a repudiation of President Obama, meaning they learned nothing from the 2001-2009 cataclysm that very nearly destroyed America’s & the world economy. But American’s have induced enuff suffering upon itself – those lacking the realization of what they’ve done. At some point, intelligence would dictate a departure from the madness of greed, envy, hate & racism & a return back to reality, where we live in a democratic community where we embrace the responsibility of caring for & uplifting each other, simply BECAUSE it makes the nation better overall!!! President Obama can’t do it all & needs a Congress & Senate w/the ‘intelligence’ to make this case to the people of America ready to return to the legacy of high achievement, superior results & ambitious expectations (for the future) left to us by President Bill Clinton…

  • joceandre

    You would think that with that new heart beating in his chest , Dick Cheney would be a better man, instead he seemed to be meaner than before. The donor heart came from a black young man, boy that organ was wasted.

  • Dick Cheney – Pure Evil