Meathead Wins Again

Column: Tax deal is a victory for Hollywood cronyism
AP

My least favorite political cliché—that liberal donors don’t ask for anything in return for campaign contributions—was exposed as laughably false by the Kick the Can Down the Road Act of 2012, also known as the American Taxpayer Relief Act, or the “fiscal cliff deal.”

The Media Mogul Protection Racket

Column: Want a pass from negative coverage? Fund the liberal press
Carlos Slim, Warren Buffett, Michael Bloomberg, Chris Hughes

I was halfway into the latest celebratory profile of Chris Hughes, the Facebook multi-millionaire and owner of the New Republic, when I was struck by the following idea, which I provide free of charge. If you are a millionaire or billionaire looking to avoid negative or critical or even remotely credulous press coverage, stop what you are doing, invest in a media property, and employ liberal writers and editors. You will probably lose a lot of money, but the intangible benefits of slavish praise and deflected criticism will be priceless.

Obama Campaign Borrows $15M from Bank of America

Warren Buffett invested $5B in BofA last year
Obama-Buffett

Obama For America took out a $15 million loan from Bank of America last month, according to the campaign’s October monthly FEC report. The loan was incurred on September 4 and is due November 14, eight days after the election.

The New Buffett Rule

Warren Buffet / AP

Warren Buffett’s Bank of America is implementing a plan that will lay off 16,000 workers by the end of the year, the Wall Street Journal reported.

GMAC profits go to financers, not taxpayers

GMAC Bank Logo

General Motors’ financial arm is finally turning a profit since receiving a $17.2 billion cash infusion from the American taxpayer. But the money is going into the pockets of wealthy financers, not the U.S. government, according to Dealbook.