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Secret Empires: How the American Political Class Hides Corruption and Enriches Family and Friends

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#1  New York Times  Bestseller! Peter Schweizer has been fighting corruption―and winning―for years. In  Throw Them All Out,  he exposed insider trading by members of Congress, leading to the passage of the STOCK Act. In  Extortion , he uncovered how politicians use mafia-like tactics to enrich themselves. And in  Clinton Cash , he revealed the Clintons’ massive money machine and sparked an FBI investigation. Now he explains how a new corruption has taken hold, involving larger sums of money than ever before. Stuffing tens of thousands of dollars into a freezer has morphed into multibillion-dollar equity deals done in the dark corners of the world. An American bank opening in China would be prohibited by US law from hiring a slew of family members of top Chinese politicians. However, a Chinese bank opening in America can hire anyone it wants. It can even invite the friends and families of American politicians to invest in can’t-lose deals. President Donald Trump’s children have made front pages across the world for their dicey transactions. However, the media has barely looked into questionable deals made by those close to Barack Obama, Joe Biden, John Kerry, Mitch McConnell, and lesser-known politicians who have been in the game longer. In many parts of the world, the children of powerful political figures go into business and profit handsomely, not necessarily because they are good at it, but because people want to curry favor with their influential parents. This is a relatively new phenomenon in the United States. But for relatives of some prominent political families, we may already be talking about hundreds of millions of dollars. Deeply researched and packed with shocking revelations,  Secret Empires  identifies public servants who cannot be trusted and provides a path toward a more accountable government.

352 pages, Paperback

First published March 1, 2018

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About the author

Peter Schweizer

55 books397 followers
Peter Schweizer is a research fellow at the Hoover Institution, Stanford University. From 2008-'09 he served as a consultant to the White House Office of Presidential Speechwriting and he is a former consultant to NBC News. He has written for the New York Times, Wall Street Journal, Los Angeles Times, USA Today, National Review, Foreign Affairs, and elsewhere. His books include The Bushes, Reagan's War, and Do as I Say, Not as I Do.

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Displaying 1 - 30 of 224 reviews
Profile Image for Margitte.
1,188 reviews667 followers
May 24, 2018
This book is REQUIRED READING for all Americans! It's an exposé of serious corruption in Congress, endangering the future of the USA: the double-talk; cronyism; massive pay-to-play schemes, which leaves Hilary the Mother Theresa of them all. Shocking!

In fact, after reading the book, which took me a while, I came to the conclusion that there is something sinister in the hunt on Hilary. Why is she targeted, when other people will have to be reincarnated a few times to serve out their consecutive life sentences, that is, IF THEY EVER will be prosecuted.

From the Amazon introduction:
Peter Schweizer has been fighting corruption—and winning—for years. In Throw Them All Out, he exposed insider trading by members of Congress, leading to the passage of the STOCK Act. In Extortion, he uncovered how politicians use mafia-like tactics to enrich themselves. And in Clinton Cash, he revealed the Clintons’ massive money machine and sparked an FBI investigation.

Now he explains how a new corruption has taken hold, involving larger sums of money than ever before. Stuffing tens of thousands of dollars into a freezer has morphed into multibillion-dollar equity deals done in the dark corners of the world.
Profile Image for Amora.
215 reviews190 followers
June 25, 2020
Devastating indictment of Joe Biden, John Kerry, Mitch McConnell, Richard Durbin, Barack Obama, and others. Both Republicans and Democrats are exposed as being frauds. I found myself surprised at several of the revelations that went unreported for years by the media. This book tells the tale of how and why Washington cronies are in bed with corrupt foreign oligarchs and governments. Biden’s chapter here is perhaps the most important given the upcoming election. There’s no excuse for the actions Biden and others have taken to enrich their family and friends.
Profile Image for Jim Brown.
193 reviews30 followers
March 28, 2018
Sometimes words fail me and this is one of those times. I read Secret Empires page by page, start to finish. It is extremely well written and very well documented as to the truth of what has been written.

My take away from the book? Washington DC is more dirtier than I had ever imagined and that is saying quite a bit considering I grew up in the shadows of the John F. Kennedy Assassination, the LBJ dishonesty in regards to Vietnam; the Richard Nixon Watergate debacle and how could anyone not remember the sexcapades of Bill Clinton. That was all followed up with Barack Obama, John Kerry and Hillary Clinton. The jury is still out on Donald Trump.

What this book so clearly points out is that there is a much deeper corruption involved within the highest levels of government in Washington that goes far beyond the figurehead names like Joe Biden, John Kerry, Barack Obama, Bill & Hillary Clinton. Except for Bill & Hillary, most have managed to keep their names out of corruption while members of their families and close friends have reaped the financial rewards of their association with the more famous names of their political family members. This has created corruption at levels most of us could not imagine.

I found this book to be totally disgusting. Just when I thought it could not get any worse than the headlines on the nightly news shows, you Secret Empires and realize just how bad life and times in Washington DC actually is. Family members have made BILLIONS of dollars by association with their famous parents primarily through foreign countries who seek to garner favors from the politicians in power and it is supposedly all legal. If they did the exact same thing within the confines of the United States, they could be brought up on charges but not so if it involved foreign governments. They have learned how to milk the system and milk it they continue to do while we just look on in amazement.

The corruption is not just a Democrat or a Republican issue, both political parties have engaged in the corruption outlined in this book. Sadly there seems to be no end in sight especially since the national news media does not seem to care one way or the other.

Financial payoffs that we more closely have associated with foreign governments are now on our doorstep. It just amazes me that the news media, the very people we have for years entrusted with insuring this kind of corruption does not happen, ignore all signs of it. You would think that the detailed information this author could discover for his book would be readily available to reporters. I defy you to find stories in the news about the sons of Joe Biden and John Kerry like you read about in this book.

The content of this book disgusts me. Frankly I have reached a point in my life that I just don’t care anymore and that seems to be the prevailing lack of concern for most Americans. Maybe “most Americans” would feel differently IF they were aware of the corruption described in this book; I certainly wasn’t and I pay attention.

Who should read this book? EVERYONE, and I mean EVERYONE! Would I read it again? No, made me sick enough the first time through it. Would I buy it as a gift? Probably not because I seriously doubt anyone would intentionally read a book like this even though they should.
Profile Image for ALLEN.
553 reviews151 followers
November 20, 2019
An excellent book, and well worth reading prior to the 2018 elections. Schweizer, author of Extortion, Clinton Cash, and numerous other books focusing on the corruptions of the governing class, here zeroes in on the predations of intra-familial nepotism. Children, parents, in-laws and "close family friends," while staying just within the bounds of federal law, receive many opportunities for advancement and enrichment simply due to having a well-placed Senator, Congressperson or other high official in the family. In this book, Schweizer goes after Democrats and Republicans alike, and there is no dearth of examples.

My title for a similar review at Amazon was "Say It Ain't So, Joe!" I was surprised and hurt to learn that regular-guy Joe Biden's son Hunter has parlayed himself into lucrative contracts with Chinese state-owned firms (update: and also Ukrainian). After Senate majority leader Mitch McConnell married Elaine Chao, his hard line stance toward trading with China got much more accommodating: she holds high cabinet positions, he controls the flow of legislation; together they're an unbeatable team. The cliche "There ought to be a law" ran through my head while reading about this powerful power couple.

Of course, my own Chicago is no stranger to corruption and "clout." Friends of Barack Obama's have been known to indulge in what Schweizer calls "smash and grab," as when the former president severely talked down the price of coal-mining stocks only to have friends, showing more hypocrisy than good citizenship, snap up the stocks cheap. Guess what happened to the price of those stocks afterward?

Illinois' next governor is bound to be a plutocrat; either the incumbent, very rich Republican Bruce Rauner, will stay in, or his challenger, even richer real estate mogul and Democrat J.B. Pritzker, will take the office. Prizker's niece, hotelier Penny Pritzker, forms an interesting "power couple" with her uncle, and another noteworthy example of keeping it "in the family."

As the reader might expect, the final chapter, "The Trump Princelings," is the most international in scope. All in all, the sooner people read this timely book and demand meaningful reform, the better. Thus is it worth mentioning that Schweizer goes after Republicans, too, despite his Breitbart experience.
Profile Image for Mark Mortensen.
Author 2 books79 followers
June 11, 2018
Forget “Something’s rotten in Denmark”, as something’s rotten in America. Call it the swamp or choose your own words but too many politicians on both sides of the congressional isle are more into self-serving their family than the general public, who elected them.

I decided to read this book as the author has performed much research with fresh information that does not make the daily news and I feel it is the obligation of American citizens to be aware. However I did not enjoy reading this book and parts were rather disgusting. Our Founding Fathers did not envision politics as a path to become wealthy.

Historically America has faced organized family crime syndicates and pockets of local political corruption; however in this new era of globalism, politicians at the federal level have found avenues to provide their family with billions of dollars. Yes, billions. Sadly the reason it continues is that it is often legal. If you think politicians in Washington, D.C. are going to voluntarily change laws to make this money grab, through connections and secretive investments illegal, think again.
484 reviews108 followers
October 2, 2022
This is a great book. It explains the curruption in Washington as well as the curruption in the world market. The author gives some good points on how to correct this world wide problem.
Profile Image for Claudia.
1,288 reviews39 followers
June 5, 2018
This was an incredibly hard book for me to read. Not because it isn't thoroughly researched and well-written but because by the middle of nearly every chapter, I was furious with our politicians and their greedy families and friends.

BUT I would recommend that everyone read this book before the next election. Especially the next one for a national office be it Congress or the Presidency because what our politicians are doing with tax payer money as well as the national economy will stun any reader. History has reported criminal activity by politicians for decades but the public really has no idea how deep it goes. Nor how destructive it has been. Nor how current these actions are.

Schweizer reveals that the industry standard has basically become 'legal' corruption. Where a close friend or family members have utilized inside knowledge from their politician relative/friend to perform inside trading. To perform what may be known as 'smash and grab' - to devastate the financial worth of a company either by manipulating government reviews and regulations, buying the company or at least a majority of the stock and then get the regulations/reviews overturned. Industries in the U.S. and likely other countries have been ruined by people making millions if not billions, while destroying jobs, economies, national and international security and all to pad their bank accounts.

Relatives being invited to a board of directors based on not what they know like many company boards but who they know and receiving hundreds of thousands in payments. As the politician parent changes committees they may be assigned, so does the companies the relative consults on. With no increase in knowledge or research.

And it's not just in America. The connections that a person has with a political relative is basically being bought by a variety of countries looking for the proverbial foot in the door: China being the country most mentioned followed by the Ukraine.

The conflict of interest as well as questionable legality of these actions, make you seriously wonder if the political relative is completely oblivious to the actions of their princeling. If they are that oblivious, they should be removed from office simply for being so stupid as to not make the connections. If they are aware, they should be removed from office and charged.

But don't hold your breath. They won't be because even though Congress passed and Obama signed the STOCK Act which makes it illegal for government officials to perform insider trading, the Act was gutted a few months later once the media spotlight focused elsewhere.

The media that has put the actions of President Trump and his children under the microscope, in turn ignored the actions of Barack Obama's 'close' friend Marty Nesbitt making billions and his commerce department director making millions in renting office space and buildings to the government.

Which in turn makes you wonder about the media - is it equally oblivious of what is occurring ? Do they not care? Or has the corruption spread into that industry as well?
Author 20 books81 followers
April 7, 2018
Be prepared to be frustrated with the content of this book. The author is a true investigative reporter and chronicles deals involving politician's family members (and best friends) with foreign governments and oligarchs, which DON'T require disclosure under current law. Deals with spouses require disclosure, but not children and friends. The author calls it "corruption by proxy." The political class is "offshoring" its corruption. Children of high-ranking Communist Party officials in China are called "Princelings" (this would have been a better title for the book!). He details the deals of Joe Biden's son, Hunter, and John Kerry's stepson, Christopher Heinz, who received billions from China, Ukraine, etc. Mitch McConnell and his wife Elaine Chao, and her families shipping business in deep with a Chinese State Owned Enterprise. The couple's net worth went from $3.1 million in 2004 to between $9.2 and $36.5 million in 2014. Not bad work, if you can get it. Children of Congressman on both sides of the aisle are also documented, from Denny Rehberg, Bill Shuster, Senator Orrin Hatch's son, Dick Durbin, and Senator Patrick Leahy's daughter. It's not just Washington, D.C., either: the chapter on Richard Daley in Chicago involved with China and Russia. The chapters on "smash and grab," whereby the Obama administration would attack certain industries (coal, for-profit education, etc.), the stock would drop, and be scooped up by folks like George Soros, Tom Steyer, and other high ranking Obama administration cabinet members.

So what does the author suggest in way of reform? Like the Foreign Corrupt Practices Act, he wants a Washington Corrupt Practices Act whereby any deal involving more than $150,000 of a politician's friend or family would have to be disclosed. He also cofounded wth Government Accountability Institute in 2012, with Stephen K. Bannon.

The problem with this reform is it's dealing with the symptom, not the cause. The cause of this corruption is a function of the size and scope of government. Until we shrink it this corruption by proxy will have a long and prosperous life for those in "public service" (what a crock term).
Profile Image for Owlseyes .
1,805 reviews303 followers
Currently reading
January 18, 2021
Biden's Ukraine connection is a good topic for debate. Also his "private equity deal" with the Chinese government.

I mean, Biden as candidate for the 2020 election. Now, the elected president.

https://www.google.com/amp/s/www.nyti...


--


" •The son of vice-president Joe Biden and the stepson of Secretary of State John Kerry profited immensely from secretive deals they struck with companies connected to the Chinese goverment.
•These deals occured as Biden and Kerry were negotiating sensitive issues with the Chinese goverment.
•The deals involved billions of dollars.
•While Vice President Biden was overseeing U.S. policy toward Ukraine, his son joined the board of one of Ukraine's most profitable and corrupt energy companies.
•The Bidens could be potential billionaires as a result of the deal.
•Did Joe Biden look the other way when $1.8 billion tax-payer money disappeared?"

Peter Schweizer

https://www.breitbart.com/clips/2021/...
Profile Image for Audrey.
1,372 reviews221 followers
August 14, 2020
You’ve always known politicians were dirty, but the extent of it is depressing. This is the kind of book that will make your head explode or eyeballs bleed.



American values include ethical behavior and a level playing field in a capitalist marketplace. I think most of us have little tolerance for politicians who abuse their power to get themselves and friends and family members rich.

Schweizer gives examples of this behavior from recent politicians, including Joe Biden, Mitch McConnell, Barack Obama, and plenty of congressmen and -women, including Orrin Hatch. I always suspected Hatch was a weasel; now I know it. He targets Democrats and Republicans equally, not letting one side or the other off the hook. He lays out the facts and lets the reader draw conclusions about whether to be outraged or not. It’s good journalism.

It gets a little dry in places when there are lots of names mentioned (people and companies and acronyms), but that can’t be helped. The book was written early in Trump’s presidency, so it ends with possible conflicts of interest for Trump. If Trump takes a tough stance with Russia and China, it will be good news as he does have business dealings there.

In China, the financial giant J. P. Morgan began a practice of hiring the children of government officials. They did this because they believed that it would enhance their ability to get more business in China. When news of the practice leaked, the federal government charged the company with violating the Foreign Corrupt Practices Act (FCPA). ... J. P. Morgan settled with the federal government to the tune of $264 million. Now imagine if J. P. Morgan had done this not in Shanghai, but in Washington, D.C. Nothing would have happened. It would be completely legal.

Schweizer offers possible solutions and laws to pass. But really, we must be vigilant and not let anybody stay in office too long.
Profile Image for Joan.
4,344 reviews122 followers
April 4, 2018
I was surprised to find out that children of members of congress are not required to fill out any ethics forms or financial disclosure forms, as spouses do. That allows children of senators and representatives to financially benefit from decisions their parents make in committees, for example. And the problem is pervasive. Even children of those relatively unknown in congress can make profitable investments because of what they know from their parent. There is even an example of a son lobbying for businesses his father sits on a committee overseeing. Schweizer concentrates on the last administration but admits that the possibility for financial gain by children of the current administration is great. This was a hard book to read, the topic being so disgusting. I wonder if there are any in congress who really care for the welfare of Americans.
695 reviews7 followers
April 5, 2018
Thank God I was born jaded because this might have destroyed my faith in our elected officials. Schweitzer does not favor either party and shows the graft, nepotism, corruption, and so many more negatives that our representatives do every day. There is no shame. 70 pages of notes. Get cleared by your PCP before reading, I will not be responsible for the aneurysm. Check it out.
Profile Image for Roger.
300 reviews12 followers
April 16, 2018
Repeat after me: “I live in a free democratic republic. I live in a free . . .”

After reading books like this (and I’ve read a few over the years), it’s hard not to feel depressed and a little bit hopeless. When I was younger and more naively idealistic, these books conjured righteous anger. And some of that is still there, but even more now is the depressing but enlightened conclusion that we do not live in a free democratic republic. Rather, the righteous anger is replaced with angry acceptance that we live in a fascist oligarchy with the institutional veneer of democracy governed by republican structures. As for righteousness, well, my definition of that word has changed all together.

Reading this book in the Trump Era and all the apparent concern over ethics and corruption makes me sick to my stomach. Not because I believe that Donald Trump has suddenly —gasp! — introduced corrupt personal interests into American politics. It is because, as this author points out, it’s been there a long time, on every level, in every party, during all of our lifetimes. And given the public willingness to perpetuate shallow political views spoon-fed by a (largely) complicit media, it’s not going away any time soon — or ever.

Now, reading books like this, does not make me angry at politicians and oligarchs. Politicians and oligarchs are going to keep on doing what politicians and oligarchs do: fleecing the public. My anger now is felt primarily for the public, because the public is going to keep on doing what the public does: nothing.

Profile Image for Richard.
318 reviews34 followers
August 10, 2018
ASSUMING ALL (or most) OF THIS IS TRUE... This is the kind of journalism flagship newspapers, news & analysis magazines, and network news organizations ought to be doing. But they are not, for the most part.

Schweitzer presents a compelling and detailed case for his exposé. I like that he doesn't favor malfeasance by one political party over another.

Our founding fathers knew that corrupt and corruptible people would ascend to power. They did their best to write a Constitution that would give us a freedom-preserving government that would continue even when populated by knaves: separation of powers, limitation of federal powers, checks and balances, Bill of Rights freedoms, impeachment, amendment process, popular election of Representatives, statehouse election of Senators (now sadly repealed), electoral college election of Presidents, etc.

People need to understand that so many of the top people who go to Washington (or, often, our state capitols) will sell us out. This book shows you how and who.
Profile Image for Paul.
334 reviews
May 16, 2020
This book will make you angry, no matter which party you are affiliated with.

The corruption in Washington and cronyism affects both parties to the highest levels – and it’s not technically illegal but definitely unethical! Schweizer details how the family members of politicians (non-spouses who don’t have to report their earnings) are able to get rich on the “legal” graft in Washington, D. C.

Everyone should read this book and then vote for someone other than your incumbents.
6,202 reviews80 followers
February 22, 2023
Deeply researched book about corruption at the highest levels of the US government. This is the kind of stuff the newspapers are supposed to report. Both parties get roasted.

Chilling how many of these people are still in power.
661 reviews10 followers
May 11, 2018
Schweizer documents the corruption of Joe Biden and John Kerry as they took the son and step-son with them when they went to China and set the younger men to enlarge their billions by mixing American policy (which Biden and Kerry controlled) with Chinese government (military). This covered two chapters. A third chapter covered the corruption of Mitch McConnell and his Taiwan born wife. The fourth chapter dealt with the princeling of Congress where sons, daughters or other family members were lobbyist in area where the Rep. or Senator controlled legislation. Schweizer show how votes were changed when the princeling began to lobby. I was surprised at some of the members of Congress that had such a low moral character. Another chapter dealt with Chicago, Obama and the Daly political machine. Here American tax funds are used to reward you friends and punish your enemies. We always knew the Daley family and Obama were corrupt, Schweizer just documents it.
6 reviews2 followers
May 4, 2018
We as a nation are so sc***d

Is there no honor? Truman, lived out his life in his wife’s modest home she inherited from her father. George Washington withdrew from public life for a year so that the new president would not have Washington’s shadow hanging over him. A tradition George W. Bush followed. Now. It’s greed, Obama is a sorry example. Obama engaged in public speaking for hundreds of thousands of dollars within weeks of leaving the Whit House. Hillary OKed uranium deal for the Russians, they in turn contributed to the Clinton Foundation. Do I expect better from Trump family and friends? No, but it is early, perhaps he and his will act honorably. I pray for an honorable man.
Profile Image for John Devlin.
Author 121 books104 followers
January 2, 2019
Everyone is corrupt.

Politicians funnel money into the untraceable hands of their relatives.

Relatives with no experience set up Lobbying groups that only function to sell influence to their mom or dad.

Politicians set up LLC’s in foreign countries that are nearly untraceable.

Oligarchs in foreign countries feather political nests by paying into corporations held by political kin.

Politicians push policies that break apart industries and conveniently have their friends swoop in a buy these assets at distressed prices.

Everyone is corrupt.
Profile Image for Anna.
1,020 reviews41 followers
April 5, 2020
"If proximity is power, it is hard to get closer to a politician than by going into business with a member of their family or paying a member of their family for a service."
Peter Schweizer, Secret Empires

this is the running theme of the book and the point is made over and over and over again as Schweizer and his team chronicle some of the "princelings" of American political families and their under-the-radar dealings

deeply disturbing but, ultimately, not surprising
Profile Image for Alicia.
38 reviews7 followers
February 17, 2021
This book should be required reading for all Americans. The depths of corruption in our politicians is absolutely astounding. It will chill you to the bone how deep of ties members of congress have with enemies of our country.
Profile Image for Kevin Keating.
838 reviews17 followers
March 5, 2020
Schweizer's books read pretty quickly generally. He uncovers a ton of stuff that is under-reported by mass media in our country. I really have to wonder why the major news outlets avoid stories about corruption. I would think they would sell papers. ANyway, the big thing to watch out for is bribes going to the family members of politicians. He singles out McConnell, Biden and warns about Trump. It's interesting and maddening.
Profile Image for Jacob Bowes.
97 reviews3 followers
May 17, 2018
An incredibly dull book on an incredibly important topic. The book covers how modern politicians LEGALLY are bought and manipulated by foreign entities. Peter Schweizer continues to criticize both parties and not show favoritism which was refreshing in the current political climate.

The layout of the book and the way it was written was boring. Schweizer fact vomits for the majority of the book which made it hard to get through. Maybe some people enjoy this style of writing but not me. The beginning and ending of the book were the best parts of the book as he sets up, summarizes and offers mature solutions to the problem. I only wish he had broken the book up by doing this more throughout.
Profile Image for Robert Melnyk.
404 reviews26 followers
October 29, 2019
Excellent book by Peter Schweizer about how politicians capitalize on their public office. Very well written and researched, Schweizer exposes how politicians become wealthy through business dealings, not so much on their own, but through connections with their family and friends. The level of corruption, on both sides of the aisle, is staggering. It reminds me of the saying, "Power corrupts, absolute power corrupts absolutely." This corruption really needs to stop, but sadly, I doubt it ever will.
Profile Image for NICK.
93 reviews1 follower
November 16, 2020
This is think tank echo chamber fodder legitimized by frivolous strategic lawsuits. Books like this are one of the reasons The United States is an international laughingstock. Publication of material of this sort should come with a "propaganda" warning label.
855 reviews2 followers
April 24, 2018
Excellent book detailing how politicians and their families enrich themselves using their political influence
Profile Image for thewanderingjew.
1,760 reviews18 followers
June 8, 2020
Secret Empires: How Our Politicians Hide Corruption and Enrich Their Families and Friends, Peter Shweizer, author; Charles Constant, narrator
This is a brief, eye-opening exposé of the subtle, if not criminal, than surely unethical, behavior of the people we elect to represent us. Because the rules governing the behavior of our elected officials only cover themselves and their spouses, their children and other family members and friends, use, or are encouraged to use, their relationship to them, to elevate themselves to positions of power that oftentimes includes extremely high, often unwarranted, salaries. They enter the employ of companies and sit on boards for which they are completely unqualified. Without giving away too much information, I will just give a brief summary of what our elected officials do to enrich themselves, their families and their friends.
A wide range of elected officials are involved, and they cross party lines, although the most nefarious situation was that of the son and stepson of Joe Biden and John Kerry. Hunter Biden and Christopher Heinz, along with their friend Devon Archer, created an investment fund with financial help from the vast fortune of Mrs. Kerry, Teresa Heinz. As time went buy, this fund grew, enabling the “kids” to attract a variety of influential clients. Their business dealings enabled China to gain a real estate foothold in America, to gain control of mining interests and technology that could compromise the United States, and more. They received large payments from the Ukraine, from a company under investigation, an investigation that Joe Biden halted! Yet all of these deals were done under an umbrella that is legal, though certainly unethical. China while guilty of using these so-called “princelings” to advance their expansion in the South China Sea, also used them to invest in companies that would provide them with information on our weapon systems, and our satellite systems, as well. The “children” used their own names to gain influence in many businesses and to enrich themselves with fortunes that most of us could not even dream of attaining. These kids started a company, that, like a tree, sprouted many branches, each one further adding to their loot. They embedded themselves into businesses that they knew nothing about and attained unusually high salaries, as well as positions on their boards. Millions of dollars that cannot be traced, because the laws do not cover them, are in their pockets. At that same time, Obama has also used his power to elevate his friends, among them his best friend, Marty Nesbitt, to positions they may or may not have been qualified for; he stood by, watching as they rose up the ladder installed in jobs and placed on boards for which they had no experience. Of course, one could rightfully say that about Barack Obama, who rose to become President, although some could argue he was unqualified and unproven for that position.
Then there is Mitch McConnell and his wife, Elaine Chao. They are both influential and have stood by and watched others, especially Elaine’s family members in China, who used their names to curry favors and increase their business investments in China, sometimes with the Bank of China, one of its major arms. Chao’s family was involved in the maritime industry and their businesses flourished because of McConnell’s influence and Elaine's influence on various government investigations and committees. When Trump was elected, China knew their position was going to be less favorable, and they elevated the relatives of Chao to higher positions in the Communist Party and put them on the board of the Bank of China. They hoped McConnell would behave more favorably to them.
When the committees that these elected officials chair, are explored, the nepotism is quite evident, and it can go on for years. Any committee, or field of endeavor, that their influential parent or friend is involved in, is fair game. Actually, they don’t even have to seek anyone out, once they are discovered, these foreign and domestic companies seeking to curry favor, will seek them out. For certain business dealings, only the elected official and spouse have to be transparent about their business dealings, investments and employment. I was shocked to discover how many of the children and influential friends became lobbyists because of their ability to gain the ear of the official. My head was spinning as I learned of their self-interest and greed, regardless of how their behavior negatively impacted the United States. Friends can hide the fact that they have used their advance knowledge to make purchases or investments or to divest themselves of investments because they can deny knowledge by using the excuse that they were visiting as friends, never attended meetings where the information was divulged, never even overheard a rumor. At the very least, they are all guilty of influence peddling, official and associates alike.
Using the term “princeling”, the author focuses on the children and family of these officials, some who are relatively unknown, but who chair committees that foreign investors are interested in, in order to gain influence. A son or daughter whose parent is involved in investigations or projects concerning minerals like molybdenum, necessary in the tech industry, and cobalt and lithium necessary for batteries, and uranium, necessary for nuclear enrichment, become huge assets. Biden and Heinz gave away the control of precious and base metals to countries actively competing with the United States. These children and friends are themselves empowered by companies seeking their influence, companies that buy them with huge salaries although they may be totally unfit for the jobs. They wind up, more often than not, working at cross purposes from the government, but if the official is a friend, often the plans are approved to everyone’s shock and amazement. Yet nothing can be done to stop this, at present.
The author exposes the politics at play, as well, as he illustrates the way President Trump and his family have been attacked for possibly abusing the Emoluments Clause, while Penny Pritzger, a person, who for years was closely involved with fundraising for Obama, a real estate giant and investor in international businesses, was never attacked when Obama appointed her as Commerce Secretary. These people in power, aware of the politics, succeed in hiding their behavior and excusing their actions that might be questionable, by cloaking them in ways they can insinuate are legal. Since Trump is not an experienced politician, he did know how to use the same tactics as Obama and his friends, and he left himself open to the necessity of being more transparent than Obama or his friends had to be, because his dealings could be considered unethical, while their very same dealings would not be considered unethical, or if they were, they were untouchable. However, his children too, achieved deals they had not been able to before his election. Trademarks were suddenly approved, business dealings went through as well. The major difference is that the Trumps were experienced in business and were investing in their own not someone else's.
The narrative is sometimes repetitive since the people involved often share in the the same nefarious deals that enrich them while they betray the country and the taxpayer, in subtle ways: i.e. they gave away the rights to mine minerals necessary for technology, or allowed investments in businesses that could compromise secrets that our military uses because they sell the companies holding them without appropriate restrictions, or they cannot appropriately police the buyer, especially when it is a Chinese buyer seeking to gain information, to pass on to their government in order to gain more influence for themselves and to improve China's position, relative to the United States. It is an ugly circle of quasi-corruption, influence peddling and outright dishonesty masquerading as business.
There are many more people in power who have used their influence legally and illegally to gain riches and influence. Some are well known and respected, like Obama, and some are obscure, like Sanchez, but all are greedy at the expense of the taxpayer, who is unaware of the fact that these officials can legally game the system. There are many countries involved in the hiring of these influential people, in order to curry favor, and some of them are well known and some are not. The range goes from China to Japan to Indonesia and Mongolia and on and on, wherever influence can be peddled.
This book is very well researched with carefully documented facts that need to be illuminated. The book needs to be read in print. The audio is good, but the names of the people and places are often confusing.
I recommend reading this book twice to fully absorb all the information, since the enrichment of these friends and family is often achieved in subtle ways that defy the imagination and the very idea that it is legal.
Profile Image for Kenneth.
1,143 reviews65 followers
September 10, 2020
This book, which came out in early 2018, details how corrupt Washington, DC really is and has been in recent years, and how it is mostly hidden from public view. The proverbial Swamp. Much of it is offshored - deals are made with foreign entities, often Chinese. Dummy holding corporations are set up - LLCs etc. used to make tracing ownership difficult. The author names names - the Bidens John Kerry, Mitch McConnell and his wife Commerce Secretary Elaine Chao and others, and documents their dealings in China and Ukraine - nice to know about in this election year.

During the Obama administration there was a phenomenon Schweizer calls "Smash and Grab". The coal industry was loaded with rules and regulations designed to force coal companies into bankruptcy, to drive down the value of company stock (justified by talk of coal contributing big time to global warming). But then billionaires like George Soros and Tom Steyer (and various friends of President Obama) would swoop in and buy up cheap all the devalued stock. Lo and behold, after a while the value of the stock started going back up. Something similar happened to for-profit private higher education. Schools like the University of Phoenix and DeVry University were attacked. Political allies of President Obama afterwards bought up their cheapened stock. Moral - if politicians and bureaucrats are out to get you, it's all too easy.

The last chapter deals with President Trump and his family - mostly with their business dealings before he became president, pretty much within the letter of the law.

In his conclusion, he makes suggestions as to how to stem these kinds of corruption. He advocates the passage of a "Washington Corrupt Practices Act" modelled after the existing "Foreign Corrupt Practices Act", which would ban children and family of politicians from receiving gifts, favors or deals from parties seeking political favors. He would widen the financial disclosures required of politicians and would require disclosures of foreign transactions made by their family members, at least those over a certain amount. And he would strengthen "Stop Trading on Confidential Information Act" which bans trading on inside information (but was watered down after its initial enactment).
Profile Image for Tim.
561 reviews27 followers
December 11, 2019
This is a serious, well-researched expose of the kind of (mostly legal) corruption that has gone on at various levels of American government, with the focus on the federal government. It is fairly dry and low on drama and dialogue, but it clearly points out some very serious problems. Schweizer demonstrates how our public servants enrich their families through high level favors, jobs, board positions, introductions, et cetera. Foreign leaders have been successful in getting the government to look at things their way by offering well-paying directorships and the like to the children and spouses of leading government officials. The case of Hunter Biden's well-paid board work in Ukraine is a case in point.

Schweizer discusses a number of these kinds of cases involving both Democrats and Republicans (who have both been guilty of this kind of sleaze). Some of the names were not familiar to me, like the information about Barack Obama's best buddy, businessman Marty Nesbitt, and some of the congressmen, but others were, like the Trump family, John Kerry's stepson, and the Daley family in Chicago. The writer carefully outlines how politician's families benefited from various deals and business arrangements in exchange for things like government approval of business deals and government contracts. Not all of the accusations were especially convincing - his portrayal of a supposed "smash and grab" scheme by Obama and has buddies, with its defense of payday lenders, for-profit colleges, and coal companies, falls into that category. Schweizer also wanders into a few other corruption cases that are tangentially related to the main stories, like the rip-off of an Indian tribe by a group of con men headed by John Galanis.

I listened to an audio version of this, which was well narrated by Charles Constant. Overall, I would say if you are interested in learning about political corruption, this book should be high on your list.
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