Charles Schwab's Ducky Deal

Charles Schwab is one lucky duck. Not only is he a billionaire stockbroker, heading the Wall Street firm that bears his family name, but he also has his own, private duck-hunting club on 1,500 acres of wetlands in picturesque Northern California.

He calls his place Casa de Patos, which is Spanish for House of Ducks. However, ducks don't read, so they're unaware that Charlie named his place for the birds and that they're supposed to swoop down from their migratory path to get a close enough for Schwab and his duck-loving friends to shoot at them. Also, while you and I know from his ubiquitous ads that Charles is a hot-shot Wall Street Stockbroker, your average duck doesn't watch a lot of tv and wouldn't know Charles Schwab from a cotton swab. But Schwab knows that his feathered friends are attracted to rice fields, so, to lure more of the game birds within gunshot range, Charles has had much of Casa de Patos planted in rice.

Here's where the story turns deliciously ducky for Schwab. As you might expect, he didn't get to be a billionaire by spending his money foolishly. No, instead he spends your money foolishly. Charles Schwab, billionaire duck man, discovered the federal farm program. Specifically, his legal beagles determined that as a rice grower, Schwab was eligible for rice subsidies from us taxpayers. Lots of subsidies. The bottom line here is that you and I, Mr. and Ms. Joe Schmoe Taxpayer, fork over some $500,000 a year in federal crop-support funds so Schwab can be sure that guests at his exclusive hunting club have plenty of ducks to kill.

The farm program was originally meant to help struggling small farmers -- not a pleasure seeking Wall Streeter with a net worth of some $4 billion. With program perveters like Schwab, we taxpayers are sitting ducks.

This is Jim Hightower saying ... To help stop cheaters like Charlie, and to return the farm program to real farmers, contact, Farm Aid: 617-354-2922.


Understand the importance of honest news ?

So do we.

The past year has been the most arduous of our lives. The Covid-19 pandemic continues to be catastrophic not only to our health - mental and physical - but also to the stability of millions of people. For all of us independent news organizations, it’s no exception.

We’ve covered everything thrown at us this past year and will continue to do so with your support. We’ve always understood the importance of calling out corruption, regardless of political affiliation.

We need your support in this difficult time. Every reader contribution, no matter the amount, makes a difference in allowing our newsroom to bring you the stories that matter, at a time when being informed is more important than ever. Invest with us.

Make a one-time contribution to Alternet All Access, or click here to become a subscriber. Thank you.

Click to donate by check.

DonateDonate by credit card
Donate by Paypal
{{ }}

Don't Sit on the Sidelines of History. Join Alternet All Access and Go Ad-Free. Support Honest Journalism.