We have all been enthralled with the debt ceiling conversations that have been ongoing for over a year but picked up steam when the Republicans won control of the U.S House of Representatives. A small caucus of conservative members decided to hold their own leader and this country hostage by threatening to lead the U.S. into default.
Do we think that our leaders in Washington will allow this country to fall into default, forcing retired elderly women to scavenge for food while cancer patients die from lack of funds to pay for medical treatment?
I don’t think so. But it’s not because our great leaders are worried about the sick and elderly. I’m sure in some ways they do. No, the great minds in Washington will not lead us into default because very simply, the top 1% earners in this country just will not allow it. They just have too much money to lose.
We all know the phrase “Money talks”? It symbolizes the power and influence that comes from wealth.
This expression can be traced back as far as the fifth century BC, when Euripides, the Greek playwright, clearly stated the concept in his plays. The power of money and the influence it has is timeless.
And that is how I know that this country will not default on its debts. Don’t take my word for it, just look at what our elected representatives do when it comes to the power of money.
Fourteen years ago, Ticketmaster and Live Nation merged into a mega monopoly Live Nation Entertainment (LNE) which now controls over 80% of the ticketing and venues in the country, and maybe the world, with the permission of Congress. Recently they flubbed the ticket sales for Taylor Swift and Bruce Springsteen tours, which left millions of fans disappointed and others shelling out thousands of dollars to attend those concerts.
President Joe Biden, in his State of the Union, called on Congress to pass the Junk Fee Prevention Act, to reduce hidden or unexpected charges. “We’re tired of being played for suckers,” the president said.
Shortly after, the U.S. Senate Judiciary held a hearing to discuss the state of the live entertainment industry and the outsized role LNE played in stifling competition where they called Ticketmaster “a monopolistic anti-hero.” An overwhelming number of members, Democrat and Republicans, took up the cause of the fans. Two leaders on the committee, a liberal democrat a conservative republican wrote to the Department of Justice and asked for an investigation.
The senators got busy falling over themselves to do something. Two senators on the committee authored a bill titled “Unlock Ticketing Markets Act”, which would limit a primary ticketing service provider from entering into an exclusive venue ticketing contract of more than 4 years, losing the stranglehold of LNE.
Another senator wrote legislation called the “FANS First Act” that would “improve transparency for ticket pricing, it would increase consumer or fan protection, it would restore market integrity, and it will punish the bad actors who engage in predatory ticket sales practices that hurt…fans.”
Two congressmen followed by submitting legislation named after Springsteen and Swift, named the “BOSS and SWIFT Act,” aimed at reforming the consumer event ticketing industry.
They all seemed to be ignoring the fact that there are ticket selling sites that do regularly charge lower prices for tickets, like Megaseats, which do provide relief for fans. But I digress, that is for another story.
It began to look like there might be justice for the fans, the display of bipartisanship raised hopes that something positive would happen.
But then reality sunk in.
“Bread is made for laughter, and wine gladdens life, and money answers everything.” - Ecclesiastes 10:19
A little entertainment news magazine, Ticket News, recently broke a story that no one seems to be paying attention to. Shortly after the senate hearing, Irving Azoff held a recorded public forum blasting back at the public officials and their attempts at reforming the industry.
Azoff, an executive in the entertainment industry has held a number of leadership positions in companies like Ticketmaster, Live Nation Entertainment, and IMG, as well as representing diverse megastars such as Garth Brooks and Cardi B, is worth over half a billion dollars. This is the same Azoff who famously refused to help secure music talent for Donald Trump’s inauguration.
And he said something out loud that many of us already knew and whispered about amongst ourselves.
Azoff announced that nothing was going to happen, that all the feigned outrage at the U.S. Capital was “just a show.”
How does he know this? He was literally quoting a current senator that he and his wife had recently had for dinner.
Azoff noted that the senator stated, “now the show is over, that was just a show.”
That’s right, he was able to casually have lunch with a U.S. Senator to get an assurance that his business would not be interrupted by the congress desire to reform the industry or the fans desire to be able to get fair priced tickets for their favorite artists.
Never mind the fact that he was able to discuss the potential legislative actions that directly affect him and his business. I can’t casually meet with a U.S. senator and get a briefing and assurance that my concerns will be met. And I bet you can’t either.
“He Who Has the Gold Makes the Rules.”
Same goes for the current debate around access to members of the Supreme Court. Lawyers for Harlan Crow, the billionairewho made headlines for his close relationship with Supreme Court Justice Clarence Thomas, and for providing lavish gifts to Justice Thomas, are arguing it is unconstitutional for Congress to investigate their connection. The Senate Judiciary Committee requested documents. The billionaire says no. Who do you think is going to win that tug of war?
In the meantime, Justice Thomas continues to weigh in on matters which affect all of us, being a decisive voice changing the rules we have been following for decades, and we have no idea how much influence Crow has in those decisions.
Money Talks.
Rocker AC/DC wrote a song “Moneytalks”, with the lyrics:
“Tailored suits, / chauffeured cars / Fine hotels and big cigars / Up for grabs, up for a price / Where the red hot girls keep on dancing through the night / The claim is on you / The sights are on me / So what do you do / That’s guaranteed / Hey little girl, you want it all / The furs, the diamonds, the painting on the wall / Come on, come on, love me for the money / Come on, come on, listen to the moneytalk.”
And herein lies the truth, money talks. Azoff and his compadres will continue to rule the entertainment market and fans will suffer. Crow will continue to tell the politicians that he is rich, they can’t make him do anything, and Thomas will continue to receive his gifts.
And finally, the Azoff’s and Crow’s of the world will tell the congress to knock it off and raise the debt ceiling. They will all tell us that it is for the little old ladies on social security.
Does it seem odd that we are getting ourselves all worked up over Congressman George Santos when it appears that no one is really telling the truth in Washington?