Zurik: ‘Snapper barons’ raking in riches from public resource

On the tip of Louisiana’s coast, Dean Blanchard built his seafood business from nothing. “It’s what made America great, is hard-working, good people,” Blanchard says. But, he tells us, a few miles away from Grand Isle – on waters owned by taxpayers – a multi-million-dollar government handout functions like the opposite of the capitalism that helps put food on his table. “When Russia and China just let certain people do certain things, what do we call them? We call them communists. I mean, I don’t see no difference.” Blanchard is criticizing a federal program, unknown to most taxpayers, that allows a handful of businesses and fishermen to make millions off a government resource – creating what some fishermen call “Lords of the Sea.” But there’s more. Many of the shareholders don’t even fish. We spoke with Galveston’s Buddy Guindon, third on the list, who can make $1.4 million. “It’s a great asset,”,, You won’t read this stuff in a NOAA report!  Click here to watch the video and read the story along with interactive Top 15 IFQ Shareholder info graphs. 20:54