Charles Koch assails banking industry for embracing ‘corporate welfare’

[pampango]

Conservative benefactor Charles Koch assailed the banking industry Saturday for accepting “corporate welfare,” saying that financial bailouts have left big banks controlled by government regulators. As he welcomed a gathering of donors here who support a political network he helped launch, the billionaire industrialist departed from his prepared remarks and held up the country’s major financial institutions as examples of the risks of government subsidies.

“The big banks have been among the biggest proponents of corporate welfare,” Koch said, standing before hundreds of wealthy contributors assembled on palm tree-ringed lawn of a luxury oceanfront resort. “They’ve got massive bailouts, virtually free money from the Fed, and regulations that are crushing the smaller banks, the community banks.”

Koch called for “eliminating welfare for the wealthy,” saying there should be no more “subsidies, mandates and special preferences for business.” He noted that “these prescriptions will not be an easy pill for many business people to swallow.” Some companies, including his Wichita-based Koch Industries, will lose profit in the short term.

Koch steered clear of any mention of the 2016 presidential race, although five of the Republican contenders are addressing the donor group during the conference: former Florida governor Jeb Bush, Sen. Ted Cruz of Texas, former Hewlett-Packard chief executive Carly Fiorina, Sen. Marco Rubio of Florida and Wisconsin Gov. Scott Walker.

http://www.washingtonpost.com/news/post-politics/wp/2015/08/01/charles-koch-assails-banking-industry-for-embracing-corporate-welfare/

[Hydra]

1. Interesting...

I like how he thinks the Banks are following orders from "the Government." Last I heard, we were checking with Goldman Sachs before doing anything.

[fadedrose]

2. I think Bernie would agree with Koch

So would Elizabeth Warren. Maybe Koch Brothers are in the wrong party.


Strange world, isn't it?

I wonder what they'd do about social programs and entitlements? Somebody should ask.

[onethatcares]

3. if you had

One Billion Dollars in your own bank account it would change the way you look at the world.

I don't trust Charlie, nope, don't trust him at all. No matter how he may try to sound like Bernie or Elizabeth Warren

[WDIM]

4. Double speak

Republicans do it all the time. Say one thing but do another. Or say one thing but mean the opposite. I want to know what companies he has that recieve subsidies and if he will be returning those subsidies.

The bank bailout was thanks to republicans.
Tax cuts tax breaks are also a form of subside and corporate welfare we know he is not advocating for ending those.

This was just pandering to the teapuklicans.

[eridani]

5. In other news, the stove called the refrigerator white n/t

[Sam_Fields]

6. Dear Charles

Without corporate welfare for the banks through the Federal Reserve bank they would go bankrupt every few years like they did in the 1800's

[bemildred]

7. It would be interesting if the Koch's got into it with the banks.

A titanic struggle for supremacy, fought with PR firms and pallets of cash.