bob mcdonnell

Politicians and Their Friends

The Sunday Washington Post has a lengthy story on Terry McAuliffe’s highly successful “business” career. McAuliffe, of course, is the longtime Democratic fundraiser and “first friendof Bill Clinton who is now the Democratic nominee for governor of Virginia.

How did a lifelong political operative make many millions for himself? The Post reviews:

The pitches to potential investors in a new electric-car company have been unabashed about its promise: It will enjoy “billions” in government subsidies and tax credits, will rise to a dominant position in the U.S. electric-car industry and, perhaps most critically, has a politically connected founder with the savvy to make it all happen….

The prospectus, along with other documents reviewed by The Post, shows how GreenTech fits into a pattern of investments in which McAuliffe has used government programs, political connections and access to wealthy investors of both parties in pursuit of big profits for himself.

That formula has made McAuliffe a millionaire many times over, paving the way for a long list of business ventures, including his law firm, from which he resigned in the 1990s after profiting — along with his partners — from fees paid by domestic and foreign clients seeking results from the federal government.

A review of McAuliffe’s business history shows him often coming out ahead personally, even if some investments fail or become embroiled in controversy.

Or as McAuliffe told the New York Times:

”I’ve met all of my business contacts through politics. It’s all interrelated,” he said. When he meets a new business contact, he went on, ”then I raise money from them.”

And how did Bill Clinton meet his very good friend? Was it in high school? College? At Oxford? The local Kiwanis Club? No, President Clinton was down in the dumps after his electoral thumping in 1994 and needed to get in gear for his reelection campaign. Harold Ickes, “his politically astute deputy chief of staff,” urged him to meet McAuliffe, who had been a fundraiser for President Carter, when he was 23 years old, and Dick Gephardt. McAuliffe quickly recommended renting out the Lincoln Bedroom, and that worked so well that they became fast friends, maybe even “best friends.”

“Good Federal Spending” versus Bad Federal Spending

Washington, DC is a company town, and the company is the federal government.  Between the executive branch, the Congress, the Supreme Court and all the rent-seekers and hangers-on that come to court power, the city is a veritable petri dish that breeds and nurtures the worst human impulses.  Some Cato people live here, too.

Bob Gates Against the World

Defense Secretary Robert Gates has again made headlines with a proposal to slow the growth of the Pentagon’s budget – already higher than at any point since World War II – by cutting overhead, waste and a top-heavy command structure.

If We Don’t Admit That Taxes Are an Issue, Can We Make the Issue Go Away?

The Washington Post devotes most of a page to summarizing the views of Virginia gubernatorial candidates Bob McDonnell and Creigh Deeds on the major issues of the election. (The article seems to have no real headline online, and isn’t linked from anywhere obvious, but in the actual paper, it dominates page C4 under the headline “Where do they stand on the issues? A Rundown of Competing 4-Year Agendas for Virginia.”)

Battle for Libertarian Voters in Virginia

Almost two months ago I quoted a Washington Post op-ed that said that this fall’s gubernatorial race in Virginia would depend on

the all-important independent voters — the disproportionately moderate, young, prosperous, suburban and libertarian-leaning people who typically decide Virginia contests.

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