STIMULUS SPENDING AND CRONY CAPITALISM

The 2009 $800 billion spending bill included funds for Serious Materials to promote production of energy efficient windows. Both the President and Vice President of the 37 United States visited the company and lauded it for its promotion of energy efficiency and green jobs. Serious Materials was the only manufacturer to receive such financial assistance and special treatment. The company vice-president for projects and policy is married to the government’s overseer of weatherization program, who was in charge of $16.8 billion in stimulus money. While all of this is legal, it is a reminder of how the political process alters incentives.
SEGMENT 9 / MECA DVD

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