Reply to post: Re: How do they get away with it?

Eggheads: Cities, don't woo rich Amazon with sweetheart HQ deals

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Re: How do they get away with it?

> It's pure crony capitalism, not some form of socialism.

Crony capitalism is a subset of corporate socialism. Crony capitalism is mostly concerned with a mutually beneficial and profitable ecosystem between individuals. It's mostly a form of corruption.

Corporate socialism is crony capitalism + corporate social welfare. Not only preferential tax rates for business buddies, but also guaranteed bailouts in case of trouble, paid for by taxpayers.

It was Bill Clinton who deregulated the financial markets in the '90's. W. introduced corporate socialism with the bailout of 2008, which Obama continued.

See Financial Crisis of 2008 and the subsequent bailout, which were unlike anything in the past.

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