Good for Barack Obama! … not afraid to call the US economy what it is– “winner-take-all”…But he has given a nod to lowering corporate taxes (in return for simplifying the tax system)… What are Obama’s economics? Well check out NY Review of Books, June 16, and learn about Behaviorist Economics – it’s all about giving people incremental choices… ugh.

Obama nods to corporations, McCain bows: he greenlights a lifting of ban on offshore gas and oil drilling off US coastlines…

Speaking of gas… the Tisch Family and their Loews Corp. is sinking $4.5 billion into a natural gas pipeline project… with that in place they will control 10% of the gas shipments in the USA. Recently the family shed its tobacco biz after profitable decades… Loews is sitting on $12.5 billion in cash

Guess who owns lots of Budweiser stock and will profit handsomely from the European buyout of the American beer icon? The Oracle of Omaha. That’s who. Warren Buffett’s Berkshire Hathaway holding group holds $35 billion in cash.

Get the message: US corporations are awash in cash…

How the mighty have fallen… The best known shareholder law firm long known as Milberg, Weiss, Bershad Hynes & Lerach finally in agreement to pay $75 million to avoid a criminal trial. For years, it turns out, the crusading law firm paid plaintiffs to stand in and built cases around them, as if there weren’t enough legitimately injured prospective plaintiffs out there… Lerach’s in prison; Milberg to join. They’re likely to hook up with Michael Milken upon release and tell the world they are really owed a thank you… Remember the $10 million thank you Ted Turner sent Milken after the sale of CNN to TimeWarner? White collar crime means never having to say you’re sorry.

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