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jerryking : ted_cruz   3

Boundless ambition and sense of superiority comes back to haunt Cruz - The Globe and Mail
PATRICK MARTIN
HOUSTON — The Globe and Mail
Published Wednesday, May 04, 2016
Ted_Cruz  Campaign_2016  ambitions 
may 2016 by jerryking
America’s racial divide widens under Obama’s watch - The Globe and Mail
KONRAD YAKABUSKI
The Globe and Mail
Published Thursday, May. 07 2015,

African-Americans are sliding down an economic ladder they had been gradually climbing. Millions of black people who moved north during the Great Migration of the mid-20th century found jobs in bustling factories. Millions more found public-sector jobs – as teachers, postal employees or city workers – as black people took over city governments and congressional seats in places such as Baltimore and Detroit. These workers formed the basis of a black middle class.

But the previous recession hit black people harder than any other group. Manufacturing was shedding jobs before the crash; governments and the post office followed suit when it hit. As Bard College professor Walter Russell Mead has noted, black people accounted for less than 12 per cent of the U.S. work force in 2011, but 21 per cent of postal employees and 20 per cent of all government workers. But with government and manufacturing in retreat, black people faced bleak job prospects.

The new economy is largely a black-free zone. A USA Today analysis last year found that African-Americans occupied only 2 per cent of the jobs at seven big Silicon Valley companies. That’s not hard to understand given the state of public schools in places such as Baltimore, Detroit and Washington, where political nepotism and unions have stood in the way of reform.

Meanwhile, systemic racism in the U.S. criminal justice system – black people are far more likely than white people to be sentenced to jail for minor drug violations, ending up with criminal records that make them virtually unemployable – is so deep as to cry out for a national inquiry.
racial_disparities  Silicon_Valley  Ted_Cruz  Konrad_Yakabuski  Campaign_2016  digital_economy  race_relations  Obama  downward_mobility  African-Americans  public_sector  middle_class  Walter_Russell_Mead  systemic_discrimination  criminal_justice_system  joblessness  public_schools  Great_Migration  sentencing  downward_spirals  institutional_path_dependency 
may 2015 by jerryking
Hedge-Fund Magnate Robert Mercer Emerges as a Generous Backer of Cruz - NYTimes.com
APRIL 10, 2015 | NYT| By ERIC LICHTBLAU and ALEXANDRA STEVENSON.

Mr. Mercer, a reclusive Long Islander who started at I.B.M. and made his fortune using computer patterns to outsmart the stock market, emerged this week as a key early bankroller of Mr. Cruz’s surprisingly fast campaign start.

...Mr. Mercer does not have the name recognition of fellow Republican financiers like the Koch brothers or Sheldon Adelson, but he has spent more than $15 million since 2012 in support of conservative political campaigns and causes, donating to a number of candidates who had never even met him. ....Robert Mercer is discussed in “More Money Than God,” a book about the hedge fund industry by Sebastian Mallaby....Before joining Renaissance Technologies, Mr. Mercer, 68, worked at I.B.M.’s research center, where he specialized in computerized translation of languages.....When James H. Simons, the billionaire founder of the Renaissance hedge fund, hired Mr. Mercer in 1993, the company was more university campus than Wall Street firm. Mr. Simons, a mathematician and former code-breaker for the National Security Agency, brought in astronomers and physicists to analyze reams of data, using computer programs to search for patterns that could be used to inform trading decisions. Mr. Simons has been a major political backer of Democrats, donating $8.3 million in 2014.
hedge_funds  moguls  high_net_worth  Robert_Mercer  Wall_Street  Ted_Cruz  Renaissance_Technologies  books  Citizens_United  James_Simons  PACs 
april 2015 by jerryking

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