The major player in the ethanol industry is Archer Daniels Midland (ADM), which reaps huge profits from ethanol tax subsidies, with which it in turn generously plies politicians for favors. "Archer Daniels Midland: A Case Study in Corporate Welfare", by James Bovard from the Cato Institute is a detailed study of who wins (ADM) and who loses (just about everyone else) from ethanol subsidies.In the words of columnist Arianna Huffington, secret FBI tapes obtained during the investigation of the ADM price fixing scandal reveal "the criminal culture prevailing in the ADM boardroom in all its graphic detail." One of the best examples of this involves ADM executives discussing a plan to make illegal contributions to then Wisconsin Governor Tommy Thompson, quoted from Kurt Eichenwald's book, The Informant: A True Story.
To date, ADM has been very generous to former Governor Tommy Thompson, with contributions amounting to $27,800!
The three ADM executives who were discussing the illegal contributions, Michael Andreas, Terry Wilson, and Mark Whitacre, received federal prison sentences in 1999 for price fixing.
Dirty business...