The Fox in the Clippers’ Henhouse

by

Who is Richard Parsons, the man selected to run the Los Angeles Clippers while the NBA tries to force Donald Sterling to sell the team?

Parsons is a one per center who was enjoying retirement as the owner of an Italian winery. From 2000 to 2007 Parsons was the chairman of AOL Time Warner, parent company of Warners and many other record labels, where he was known for using a corporate jet to fly around the world to record company parties. Parsons was also known for occupying one of the most expensive corner offices ever built and for firing thousands of employees, forcefully expelling them from the middle class.

Although his previous political experience was as an advisor to Republican Rudy Giuliani and to billionaire Michael Bloomberg, in 2008 Parsons was brought aboard Obama’s economic advisory team.  Obama, almost certainly with the agreement of Parsons, embraced and expanded the bank bailout.

On November 17, 2008, Citigroup fired 52,000 workers.  Four days later the Fed committed $326 billion to Citigroup. Citigroup was charged less than one per cent interest on this “loan” at the same time it was charging up to seventeen per cent interest on sub prime loans. In January 2009, just as Obama took office, Citigroup tapped the Fed for $100 billion. The next month the other shoe dropped–Richard Parsons became chairman of Citigroup. According to the Government Accounting Office, Citigroup borrowed $2.513 trillion from the Fed between 2007 and 2010. It did not use that money to hire back the 52,000 workers who were fired in 2008.

In the process of forcing Donald Sterling to sell the Clippers (which will net Sterling up to a billion dollar profit), Parsons will work to protect the interests of the networks, the advertisers, and the other owners. The players? Well, Parsons made his bones in the music industry, whose business model is based on stealing money from artists, especially but not at all limited to black artists. Parsons is black but you don’t get into the one per cent without choosing sides.

Lee Ballinger, CounterPunch’s music columnist, is co-editor of Rock and Rap Confidential author of the forthcoming book Love and War: My First Thirty Years of Writing, interviewed Honkala for CounterPunch. RRRC is now available for free by emailing Ballinger at: rockrap@aol.com.

 

Lee Ballinger, CounterPunch’s music columnist, is co-editor of Rock and Rap Confidential author of the forthcoming book Love and War: My First Thirty Years of Writing. He can be reached at: Rockrap@aol.com

Like What You’ve Read? Support CounterPunch
August 31, 2015
Michael Hudson
Whitewashing the IMF’s Destructive Role in Greece
Conn Hallinan
Europe’s New Barbarians
Lawrence Ware
George Bush (Still) Doesn’t Care About Black People
Joseph Natoli
Plutocracy, Gentrification and Racial Violence
Franklin Spinney
One Presidential Debate You Won’t Hear: Why It is Time to Adopt a Sensible Grand Strategy
Dave Lindorff
What’s Wrong with Police in America
Louis Proyect
Jacobin and “The War on Syria”
Lawrence Wittner
Militarism Run Amok: How Russians and Americans are Preparing Their Children for War
Binoy Kampmark
Tales of Darkness: Europe’s Refugee Woes
Ralph Nader
Lo, the Poor Enlightened Billionaire!
Peter Koenig
Greece: a New Beginning? A New Hope?
Dean Baker
America Needs an “Idiot-Proof” Retirement System
Vijay Prashad
Why the Iran Deal is Essential
Tom Clifford
The Marco Polo Bridge Incident: a History That Continues to Resonate
Peter Belmont
The Salaita Affair: a Scandal That Never Should Have Happened
Weekend Edition
August 28-30, 2015
Randy Blazak
Donald Trump is the New Face of White Supremacy
Jeffrey St. Clair
Long Time Coming, Long Time Gone
Mike Whitney
Looting Made Easy: the $2 Trillion Buyback Binge
Alan Nasser
The Myth of the Middle Class: Have Most Americans Always Been Poor?
Rob Urie
Wall Street and the Cycle of Crises
Andrew Levine
Viva Trump?
Ismael Hossein-Zadeh
Behind the Congressional Disagreements Over the Iran Nuclear Deal
Lawrence Ware – Marcus T. McCullough
I Won’t Say Amen: Three Black Christian Clichés That Must Go
Evan Jones
Zionism in Britain: a Neglected Chronicle
John Wight
Learning About the Migration Crisis From Ancient Rome
Andre Vltchek
Lebanon – What if it Fell?
Charles Pierson
How the US and the WTO Crushed India’s Subsidies for Solar Energy
Robert Fantina
Hillary Clinton, Palestine and the Long View
Ben Burgis
Gore Vidal Was Right: What Best of Enemies Leaves Out
Suzanne Gordon
How Vets May Suffer From McCain’s Latest Captivity
Robert Sandels - Nelson P. Valdés
The Cuban Adjustment Act: the Other Immigration Mess
Uri Avnery
The Molten Three: Israel’s Aborted Strike on Iran
John Stanton
Israel’s JINSA Earns Return on Investment: 190 Americans Admirals and Generals Oppose Iran Deal
Bill Yousman
The Fire This Time: Ta-Nehisi Coates’s “Between the World and Me”
Scott Parkin
Katrina Plus Ten: Climate Justice in Action
Michael Welton
The Conversable World: Finding a Compass in Post-9/11 Times
Brian Cloughley
Don’t be Black in America
Kent Paterson
In Search of the Great New Mexico Chile Pepper in a Post-NAFTA Era
Binoy Kampmark
Live Death on Air: The Killings at WDBJ
Gui Rochat
The Guise of American Democracy
Emma Scully
Vultures Over Puerto Rico: the Financial Implications of Dependency
Chuck Churchill
Is “White Skin Privilege” the Key to Understanding Racism?
Kathleen Wallace
The Id(iots) Emerge
Andrew Stewart
Zionist Hip-Hop: a Critical Look at Matisyahu
Gregg Shotwell
The Fate of the UAW: Study, Aim, Fire