Weekend Economists' Sumer Is Icumen In June 20-22, 2014

[Demeter]

28. How to Tell If Your Member of Congress Is a Crony Capitalist

http://www.alternet.org/how-tell-if-your-member-congress-crony-capitalist?akid=11931.227380.bV21m3&rd=1&src=newsletter1004236&t=22




Last Tuesday, Rep. Eric Cantor learned the hard way that crony capitalism comes at a political cost. In a decisive 10-point upset, Cantor's Republican primary opponent David Brat defeated the Virginia congressman after charging that he was "trying to buy this election with corporate cash." Few inside Washington thought charges like this would stick; for decades they've opened their campaign coffers to millions of dollars from Fortune 500 firms without fearing any consequences at the ballot box.

Since arriving on Capitol Hill in 2001, Cantor has received corporate contributions extending from Bank of America to Verizon and beyond. Only four other lawmakers took in more corporate cash during the most recent election cycle. In exchange, Cantor became big businesses' "ace in the hole." According to TIME, big banks, energy and defense industries, insurance firms, and phone and cable companies knew they could rely on Cantor to put their interests before those of his constituents back in Virginia's 7th District.

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But what distinguishes crony capitalists ... is not the fact that they take corporate money  -- every member of Congress does  -- but the degree to which they shape shift to earn it, molding their views in a way only their benefactors could love. The Center for Responsive Politics website is a good place to discover whether your member of Congress is also a crony capitalist. First, find who his or her biggest corporate donors are. Then check his or her record on policies that may impact the bottom lines of those companies. Does she support or oppose financial-sector reform? Has he recently signed a letter or released a statement opposing EPA curbs to coal-plant emissions? Do those positions match those of his or her largest corporate donors? Yes? If that doesn't bother you, it should. And you should let your members of Congress know whom they really work for.

For decades our elected officials have shrugged off grassroots concerns about the corrupting influence of corporate cash. After Cantor's defeat last week, many should be having second thoughts.

THAT WEBSITE?
https://www.opensecrets.org/