All articles tagged with #crony capitalism
The article criticizes President Trump's recent TikTok U.S. sale deal, highlighting a multibillion-dollar payment demanded from investors, which experts describe as a 'shakedown scheme' and an example of crony capitalism, with broader implications of government interference in business transactions.
Citadel CEO Kevin Griffin criticizes Trump's administration for favoring large corporations through deals and tariffs, warning that such crony capitalism harms the American economy and fairness, and expresses concern over government interference in markets and the Federal Reserve's independence.
California Governor Gavin Newsom is facing backlash and calls for an investigation after allowing an exemption to the state's $20 minimum wage law that benefits a donor, allowing Panera Bread franchise locations to continue paying employees $16 an hour. The move has prompted criticism from Republican lawmakers, who are calling it "crony capitalism" and demanding a probe into the "crooked deal." The donor, billionaire Greg Flynn, has donated significant amounts to Newsom's campaigns and reportedly lobbied for the exemption. Newsom's office stated that the legislation resulted from extensive negotiations with various stakeholders and denied any single entity's influence over the outcome.