Tag Archives: cronies

Despite More than a Billion Dollars in Government Subsidies Largest Renewable Energy Company Filing for Bankruptcy

May 3, 2016

SunEdison, which bills itself as the largest green energy company in the world, a company the National Review reports has received more than $1.5 billion in state and federal government subsidies and loan guarantees, is preparing to file for bankruptcy protection from its creditors.

SunEdison’s financial collapse would rank as one of the largest in recent years. The company had a market value of more than $10 billion in July of 2015 with its stock trading at approximately $32 per share. Now the company, saddled with nearly $8 billion in long-term debt, is valued at just $150 million, with its stock trading at less than $1.00 per share.

According to the Securities and Exchange Commission (SEC), SunEdison is considering a mass liquidation of its assets, noting the company is delaying its annual financial reports to the SEC.

Compounding SunEdison’s financial difficulties, the company is also being investigated by the Justice Department and the SEC concerning its finances and disclosures made to its investors.

Record of Green Energy Failure

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Why Has An “Apolitical” Fed Governor Donated To Hillary Four Times?

Tyler Durden's picture

Any time a Fed president, governor or chairman trots out the trite cliche that the Fed is “apolitical” we can’t help but laugh for one simple reason: not only is the Fed not apolitical, but is very closely ideologically tied with whichever party promotes deficit spending which by definition is inflationary: more deficits mean more debt, means more opportunity for the Fed to show off its “inflation” creating skills; and in a Keynesian world, a stable 2% inflation is the lubricant that drives and stabilizes the financial system – the Fed’s true mandate. There is a reason why central bankers call deflation a “monster” which must be slayed, as per Haruhiko “Peter Pan” Kuroda.

However, it is one thing to note the obvious, it is different to have proof that Fed members have a clear ideological bias. Thanks to recent Fed appointee Lael Brainard, we have just that.

According to Bloomberg, recent Treasury staffer and current Fed Governor Lael Brainard gave $1,950 to Hillary Clinton’s presidential campaign in February, Federal Election Commission records show.

While campaign contributions from federal government employees are legal, donations to a presidential candidate by a senior Fed policy maker are unusual. Brainard is the only member of the policy making Federal Open Market Committee to donate to any federal election candidate this year, according to FEC data.

 

Brainard’s fourth donation since November brings her total contributions to Clinton, the Democratic presidential front-runner, during this election campaign to $2,700, the limit for individual candidate donations in the cycle.Brainard’s previous contributions in that time span, totaling $750, were reported by Bloomberg in March, before the Feb. 1 donation appeared on the FEC’s website.

 

Senator Richard Shelby, the Alabama Republican who heads the Senate Banking Committee, has said the contributions “call into question the political independence” of senior Fed officials.

Fed Chair Janet Yellen said in March that legal donations from central bank employees don’t undermine the Fed’s standing as a non-partisan agency. Fed spokesman David Skidmore declined to comment.

ny time a Fed president, governor or chairman trots out the trite cliche that the Fed is “apolitical” we can’t help but laugh for one simple reason: not only is the Fed not apolitical, but is very closely ideologically tied with whichever party promotes deficit spending which by definition is inflationary: more deficits mean more debt, means more opportunity for the Fed to show off its “inflation” creating skills; and in a Keynesian world, a stable 2% inflation is the lubricant that drives and stabilizes the financial system – the Fed’s true mandate. There is a reason why central bankers call deflation a “monster” which must be slayed, as per Haruhiko “Peter Pan” Kuroda.

FDA Officially Belongs to Big Pharma With Senate Confirmation of Dr. Robert Califf

Martha Rosenberg, AlterNet | February 25t is hard to believe only four senators opposed the confirmation of Robert Califf, who was approved Wednesday as the next Food and Drug Administration (FDA) commissioner. Vocal opponent Bernie Sanders condemned the vote from the campaign trail. But where was Dick Durbin? Where were all the lawmakers who say they care about industry and Wall Street profiteers making money at the expense of public health?

It is hard to believe only four senators opposed the confirmation of Robert Califf, who was approved today as the next FDA commissioner. Photo credit: Les Todd / Duke Photography
It is hard to believe only four senators opposed the confirmation of Robert Califf (left), who was approved Wednesday as the next FDA commissioner. Photo credit: Les Todd / Duke Photography

Califf, chancellor of clinical and translational research at Duke University until recently, received money from 23 drug companies including the giants like Johnson & Johnson, Lilly, Merck, Schering Plough and GSK according to a disclosure statement on the website of Duke Clinical Research Institute.

Not merely receiving research funds, Califf also served as a high level Pharma officer, say press reports. Medscape, the medical website, discloses that Califf “served as a director, officer, partner, employee, advisor, consultant or trustee for Genentech.” Portola Pharmaceuticals says Califf served on its board of directors until leaving for the FDA.

In disclosure information for a 2013 article in Circulation, Califf also lists financial links to Gambro, Regeneron, Gilead, AstraZeneca, Roche and other companies and equity positions in four medical companies. Gilead is the maker of the $1000-a-pill hepatitis C drug AlterNet recently wrote about. This is FDA commissioner material?

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Federal pain panel rife with links to pharma companies

By MATTHEW PERRONE

FILE – This Feb. 19, 2013, file photo, shows OxyContin pills arranged for a photo at a pharmacy in… Read more

WASHINGTON (AP) — A federal panel that has recently criticized efforts to cut back on painkiller prescriptions is studded with members who have financial ties to drug companies.

Nearly a third of members on the Interagency Pain Research Coordinating Committee have financial connections to makers of opioid drugs like OxyContin.

The government advisory panel consists of federal scientists, outside academics and patient representatives. Of the 18 committee members at a recent meeting to discuss the government’s handling of pain issues, at least five had drug-industry connections.

One, a pain specialist from Duke University, has received thousands of dollars in payments from drugmakers, including OxyContin-maker Purdue Pharma and Teva Pharmaceuticals, which sells generic painkillers. Another, a patient advocate, holds a nonprofit position created by a $1.5 million donation by Purdue.

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from a decidedly male perspective