Chelsea Clinton reaps $9 MILLION from corporate board position

[Krugminator2]

So you figure a revolving door between corporations and D.C. is the perfect way to ensure the free market a level playing field?



Ever hear of a guy named George Romney?

As far as I know, George Romney had nothing to do with Bain Capital, it's success, or helping Mitt Romney with deals.

Being the child of a politician doesn't mean you should have to work as a garabage man (not that there is anything wrong with that).

 

[Warlord]

Nope. He isn't. Supported Mitt Romney's work, as evidenced by link. Sees it as a clear benefit. Not cronyism or corporatism in any way. It is raw capitalism.

I don't think you know what words mean.

Corporatism- the control of a state or organization by large interest groups

I don't see government controlling anything when a venture capital firm buys a business.

I'm not talking about the Romney's. Perhaps you can address my concerns over Hunter Biden, Paul Pelosi and Chelsea Clinton?

 

[Krugminator2]

I'm not talking about the Romney's. Perhaps you can address my concerns over Hunter Biden, Paul Pelosi and Chelsea Clinton?

Well. You actually are talking about Mitt Romney. That is why you linked to me. And you are defending your disgusting views against people like him. You called making money through voluntary transactions "obscene enrichment".

And then you conflated capitalism working (i.e. private equity) with using the children of politicians to trade favors because well... no one knows.

 

[Warlord]

Well. You actually are talking about Mitt Romney. That is why you linked to me. And you are defending your disgusting views against people like him.

And then you conflated capitalism working (i.e. private equity) with using the children of politicians to trade favors because well... no one knows.

You didn't answer my question...

So your happy with the obvious and obscene nature of the nepotism that is being displayed by these characters? Is it really the case that 'nothing can be done' because it's 'raw capitalism'?

 

[Krugminator2]

You didn't answer my question...

So your happy with the obvious and obscene nature of the nepotism that is being displayed by these characters? Is it really the case that 'nothing can be done' because it's 'raw capitalism'?

I think its bad. It isn't remotely comparable to private equity. Employing Chelsea Clinton and Hunter Biden in positions they are likely not qualified for is cronyism and favor trading. It isn't free market capitalism.

The way you would deal with it is limit the amount government can spend so there isn't the money to giveaway that would incentivize bribing politicians.

Ron Paul has already weighed in on this issue. https://en.wikipedia.org/wiki/Political_positions_of_Ron_Paul

"Paul opposes federal attempts to regulate campaign spending and speech intended to influence elections. "

"Commenting on the Supreme Court's ruling in Citizens United, in 2010 Paul said, "You should never restrict lobbying because the Constitution is rather clear about the people being allowed to petition Congress, and whether you're an individual or you belong to a [special interest group] ... you should be allowed to do that."[SUP][108][/SUP] He argues that corporations should be able to spend their money in any way that they want.[SUP][108][/SUP] He also opposes taxpayer-funded public campaign financing.[SUP][109]"[/SUP]

 

[Warlord]

I think its bad. It isn't remotely comparable to private equity. Employing Chelsea Clinton and Hunter Biden in positions they are likely not qualified for is cronyism and favor trading. It isn't free market capitalism.

The way you would deal with it is limit the amount government can spend so there isn't the money to giveaway that would incentivize bribing politicians.

Ron Paul has already weighed in on this issue. https://en.wikipedia.org/wiki/Political_positions_of_Ron_Paul

"Paul opposes federal attempts to regulate campaign spending and speech intended to influence elections. "

"Commenting on the Supreme Court's ruling in Citizens United, in 2010 Paul said, "You should never restrict lobbying because the Constitution is rather clear about the people being allowed to petition Congress, and whether you're an individual or you belong to a [special interest group] ... you should be allowed to do that."[SUP][108][/SUP] He argues that corporations should be able to spend their money in any way that they want.[SUP][108][/SUP] He also opposes taxpayer-funded public campaign financing.[SUP][109]"[/SUP]

OK, well we agree on something... I'm not talking about campaign finance. This is racketeering. Guilani who has 30 years experience as a lawyer (although a lousy politician) says he can prosecute the Biden's and presumably others if he's given a staff and a small budget.

There are RICO laws or whatever. I'm not a prosecutor or lawmaker.

AS for PE (private equity) Ron is against the cheap money that these 'shops' can raise. This goes back to his wider point on the Fed and the monetary system. In a truly free market with no Federal Reserve they wouldn't be able to raise the money for their corporate 'raids' which so many on here find objectionable (in that other thread).

 

[Krugminator2]

AS for PE (private equity) Ron is against the cheap money that these 'shops' can raise. This goes back to his wider point on the Fed and the monetary system. In a truly free market with no Federal Reserve they wouldn't be able to raise the money for their corporate 'raids' which so many on here find objectionable (in that other thread).

Completely false. Corporate raids and the height of private equity was in the early 1900's when there was no Federal Reserve.

From the book I am reading now " During the year 1897-1904, some 4,277 American companies consolidated into 257 corporations."

"A new breed of investment bankers played key roles in promoting and financing these transactions, often with high levels of debt. The signature deal of the era, the 1901 amalgamation of eight steel companies into U.S. Steel Corporation, had a total capitalization of $1.2 billion - an astonishing amount equivalent to seven percent of the gross national product. It was financed by a syndicate headed by J.P. Morgan, the preeminent financier of his time, who had built his reputation by restructuring ailing railroads. With $550 million in 7 percent convertible preferred stock, $550 million in common stock, and $304 million 5% gold bonds, U.S. Steel's capital structure was in effect 61% leveraged."

 

[Warlord]

Completely false. Corporate raids and the height of private equity was in the early 1900's when there was no Federal Reserve.

From the book I am reading now " During the year 1897-1904, some 4,277 American companies consolidated into 257 corporations."

"A new breed of investment bankers played key roles in promoting and financing these transactions, often with high levels of debt. The signature deal of the era, the 1901 amalgamation of eight steel companies into U.S. Steel Corporation, had a total capitalization of $1.2 billion - an astonishing amount equivalent to seven percent of the gross national product. It was financed by a syndicate headed by J.P. Morgan, the preeminent financier of his time, who had built his reputation by restructuring ailing railroads."

Morgan is the exception to the rule. Most of these 'shops' now are raising cheap money because the Fed is handing it out. They are risky investments in any true free market and they would find it harder to get finance.

I suppose we will have to disagree on this.

 

[Krugminator2]

Morgan is the exception to the rule. Most of these 'shops' now are raising cheap money because the Fed is handing it out. They are risky investments in any true free market and they would find it harder to get finance.

So you won't admit you were wrong despite the roundhouse kick you got and all the work I put into finding that and writing that out. Got it.

 

[Warlord]

So you won't admit you were wrong despite the roundhouse kick you got and all the work I put into finding that and writing that out. Got it.

No... My point is the Fed is the chief enabler. Not everyone is JP Morgan who was a giant on his time. Most of these PE firms would find it much harder to attract finance. The same thing can be said of Hedge funds or Quantum computer funds or whatever the hell they are. They are all being enabled because of the Fed and the advent of cheap money.

 

[Zippyjuan]

Nepotism needs to be recognized some how. Hunter Biden, Paul Pelosi and now Chelsea Clinton. Do you see a pattern here? All of them are enriching themselves obscenely off their family connections.

Don't leave out the Trumps.

 

[Warlord]

Don't leave out the Trumps.

Do you have evidence that they're making obscene amounts of money like the others ive mentioned?

 

[Zippyjuan]

Do you have evidence that they're making obscene amounts of money like the others ive mentioned?

Is $135 million a year obscene?

https://www.theguardian.com/us-news/2019/jun/14/ivanka-trump-jared-kushner-revenue-income-2018

Ivanka Trump and Jared Kushner made as much as $135m last year

Ivanka Trump and Jared Kushner took in as much as $135m in income during their second year as aides to Donald Trump, generated from their vast real estate holdings, stocks and bonds and even a book deal, according to their financial disclosures released Friday.

Ivanka Trump’s stake in her family’s Washington DC hotel down the street from the Oval Office generated $3.95m in revenue in 2018, barely changed from a year earlier. The hotel, a favorite gathering spot for foreign diplomats and lobbyists, is at the center of two federal lawsuits claiming Trump is violating the constitution’s ban on foreign government payments to the president.

Another big Ivanka Trump holding, a trust that includes her personal business selling handbags, shoes and accessories, generated at least $1m in revenue in 2018, down from at least $5m the year before. Ivanka Trump announced in July of last year that she planned to close her fashion company to focus on her work as a White House adviser for her father.

The disclosure for her husband, Jared Kushner, shows that he took in hundreds of thousands of dollars from his holdings of New York City apartments and that he owns a stake in the real estate investment firm Cadre worth at least $25m.

The disclosures released by the White House and filed with the US Office of Government Ethics shows minimum revenue for the couple of $28m last year. The disclosures that must be filed by federal government officials show both assets and debts compiled in broad ranges between low and high estimates, making it difficult to precisely chart the rise and fall of the financial portfolios.

Among the dozens of sources of income was a $263,500 book advance for Ivanka Trump’s Women Who Work: Rewriting the Rules for Success, published in 2017. Trump has pledged to donate royalties to her charitable fund.

Kushner’s holdings of apartment buildings through his family real estate firm, Kushner Companies, was the source of much of his income. Westminster Management, the family business overseeing its rental buildings, generated $1.5m.

Separately, one of the family’s marquee holdings, the Puck Building in the Soho neighborhood of Manhattan, generated as much as $6m in rent.

Among other properties cited in the disclosure was a former warehouse-turned-luxury-condominium in the Williamsburg neighborhood of Brooklyn that brought in more than $350,000 in sale proceeds and rent.

Former and current tenants in the building have filed a suit against the Kushner Companies, alleging it used noisy, dusty construction to make living conditions unbearable in an effort to push them out so their apartments could be sold. The company has said the suit is without merit.

Donald Trump Jr.; https://www.celebworth.net/2018/07/how-much-money-does-donald-trump-jr.html

Net Worth:

Donald Trump Jr. Net Worth: $303 Millions

Donald Trump Jr.'s Income / Salary:

Per Year: $50.5 Millions

Per Month: $4.21 Millions

Per Week: $971,153.85

 

[Warlord]

Is $135 million a year obscene?

https://www.theguardian.com/us-news/2019/jun/14/ivanka-trump-jared-kushner-revenue-income-2018

Apart from the book deal most of it is pre-Donald getting into office.

 

[Zippyjuan]

Apart from the book deal most of it is pre-Donald getting into office.

Most of Chelsea's income came from appreciation of stock in the company. Not counting how much the stocks went up, they were paying her about $300k a year including her stock shares which is not a huge amount for a director.

Clinton, the only child of former President Bill Clinton and former Secretary of State Hillary Clinton, has served on IAC’s board since 2011 and receives an annual $50,000 retainer and $250,000 worth of restricted IAC stock units, Barron’s reports.

She reported owning $8.95 million worth of IAC stock to the Securities and Exchange Commission at the end of December.

Barron’s notes that IAC’s stock has risen 89 percent, 50 percent and 36 percent in 2017, 2018 and 2019, respectively, a far steeper rise than the broader stock market.

 

[Warlord]

Most of Chelsea's income came from appreciation of stock in the company. Not counting how much the stocks went up, they were paying her about $300k a year which is not a huge amount for a director.

Trust you to defend the Clinton's. What about Biden and Pelosi... directors of energy companies in the Ukraine yet they have no experience of running energy companies,

 

[Zippyjuan]

Ivanka got paid this week to speak a a massive tech conference- something she has no experience at.

https://gizmodo.com/why-the-hell-is-ivanka-trump-speaking-at-ces-1840848941

Why the Hell Is Ivanka Trump Speaking at CES?

Ivanka Trump, the daughter of President Donald Trump and so-called White House “advisor,” will be speaking at CES this afternoon. But not everyone is happy about it. In fact, many people whom Gizmodo spoke with who are actually attending CES this year think it’s pretty weird that Ivanka Trump is getting a platform at America’s biggest tech show.

“It’s absolutely inappropriate,” Rahat Rashid, a PR representative, told Gizmodo in Las Vegas yesterday. “I mean, she’s supposed to be representing women in tech and how is she actually a woman in tech? There should be someone else doing that.”

Ivanka’s talk this afternoon is called “The Path to the Future of Work,” likely centered around her lone legislative accomplishment: parental leave for some federal workers, excluding some gigantic government agencies like the Transportation Security Administration (TSA) and Federal Aviation Administration (FAA).

Even some CES attendees who consider themselves generally apolitical said that Ivanka was a very unfortunate choice for the annual consumer tech show, given the horrific things that the Trump regime has done over the past three years—from the family separation policy that saw at least six children die in U.S. custody to the Muslim travel ban.

 

[Warlord]

Ivanka got paid this week to speak a a massive tech conference- something she has no experience at.

https://gizmodo.com/why-the-hell-is-ivanka-trump-speaking-at-ces-1840848941

Is she getting paid for it?