Fox Business
Expand
Browse All Video
Watch Live

You're watching...

"Crony Capitalists" challenged at shareholder meeting

Details

  • Description

    Tom Borelli discusses the grants issued to Exelon

  • Duration 4:32
  • Date

Clips

Also in this playlist...

Latest Video

Auto-advance: ON

Auto-advance
View All

Transcript

This transcript is automatically generated

About the fact that we just got this story this week that this federal agency this General Services Administration.

Went down through big -- biggest bash in the midst of bar you know.

Recession they don't seem to care we have all the same stuff happening over and over again.

And -- changing.

No thought to changing.

Now it seems like entitlement is like the key theme -- every one when -- -- food stamp nation now we have General Services Administration.

You know I guess that end with stays and what happens -- they can stay -- that's a lie that I thought because now came out.

And you know general service administration seems like they was self serving themselves on tax Payer money which is plainly outrageous what -- we have 25 million people.

Unemployed that under employed at the same time.

These government workers used in our tax money are out party in Vegas that is outrageous footage shows just how massive and -- our government -- -- What's really ironic is the general service administration is really the purchasing agent of the government that -- -- -- -- keeping.

-- on people who make sure they don't always spend what we buy things but what were they doing.

They were having party time in Vegas.

On -- dollar.

You know the free enterprise project is is out to challenge government actions regulations USB having a field day.

-- I mean there's not that it there's not a thousand -- a great and I think isn't the eaten out you know.

We could talk about this crony capitalism that shareholder meetings we could talk about crony capitalism and everything we do it's not just shareholder meetings in.

I read something recently that the country is becoming a autocracy.

Thank you very fat.

Well you know certainly the alignment right now was -- of Obama of big business.

And big government together right and you know we were just at the excellent shareholder meeting big you know.

Energy producer while they got a 200 million dollar grant.

From the stimulus funds -- excellent provides a 5%.

Dividend for its shareholders.

So think about that our tax Payer money went to -- -- wondered I would say and that they give their shareholders 5%.

You know in terms of the yield this is already just a profitable company.

Personal not company should be getting bail out -- I could imagine given money to profitable companies who -- given a 5% dividend.

00 by the way excellent was lobbying for Obama's cap and trade plan -- that you see any relationship.

-- right.

But that's.

And an a you don't want to be cynical about it but that's what it is right.

That the big guys are able to get bigger because -- out of money to lobby and the money to buy -- -- -- a little guys keep -- questions.

Sure we get taxpayer get it from both ends the little we have to pay for this huge government bureaucracy.

That's parting in Vegas similar to pay for higher energy prices when you know and when the president and works with utilities to raise utility prices it's the big squeeze then they wonder why we don't have manufacturing jobs and here come on dot.

The the energy price thing is interesting because we've seen this time again California in particular is trying to do it too -- where.

They want to raise prices on regular electricity.

To help subsidize wind and solar right.

So and that -- So what makes no sense California has a 30% renewable energy.

Mandate.

-- -- -- 30% of their energy has to come from renewable.

That's coming -- the control that's great if you sell wind turbines and solar parents really bad if you're manufacture or common citizen.

And in the state of California and it's especially harmful.

To those people on lower and fixed incomes because economic being squeezed by gasoline prices they're now also getting squeezed on utility prices that's not sustainable.

I'm hanging in order -- because that would -- -- -- fix this is it is isn't.

He's electing a different president going to fix this.

Well I think at the beginning which you have to -- -- is with the people have been part of the Tea Party movement from from almost it's beginning.

And what we need is people to get in the face of their legislators and say enough look at the state of West Virginia.

Very dependent on coal and coal mining fifty democratic senators one up for reelection Joseph mansion what's he going to stop Obama's war on call.

Nothing those people West Virginia need to go back to their represented -- and stand outside his door.

And say cool you were presenting Obama's radical energy policy well we the people it's got -- stock --

Load More