Crony Capitalist Endorses Barack Obama
6th November 2012
Read it. And watch the video.
As the Washington Examiner’s Tim Carney observed yesterday on Twitter, President Barack Obama has secured the endorsement of a well-known crony capitalist: the rap star Jay Z. As a part-owner of the New Jersey Nets basketball team, Jay Z profited at taxpayer expense when the state of New York abused its eminent domain powers to seize privately-owned homes and business and then handed that land over to fellow Nets owner and real estate tycoon Bruce Ratner, who built a new arena for the Nets to call home.
A few months before the state-sanctioned bulldozers came through, Reason.tv visited Freddy’s Bar, one of the many local establishments that was demolished for the economic benefit of folks like Jay Z and Ratner.