At the beginning of 1959 United States companies owned about 40 percent of the Cuban sugar lands—almost all the cattle ranches—90 percent of the mines and mineral concessions—80 percent of the utilities—practically all the oil industry—and supplied two-thirds of Cuba's imports.

— John F. Kennedy
In a manner that antagonized the Cuban people, the U.S. government used its influence to advance the interests of and increase the profits of the private American companies, which "dominated the island's economy".
By the late 1950s, U.S. financial interests owned 90% of Cuban mines, 80% of its public utilities, 50% of its railways, 40% of its sugar production and 25% of its bank deposits—some $1 billion in total.
According to historian Louis Perez, author of the book On Becoming Cuban, "Daily life had developed into a relentless degradation, with the complicity of political leaders and public officials who operated at the behest of American interests."
As a symbol of this relationship, ITT Corporation, an American-owned multinational telephone company, presented Batista with a Golden Telephone, as an "expression of gratitude" for the "excessive telephone rate increase" that Batista granted at the urging of the U.S. government.

Earl E. T. Smith, former U.S. Ambassador to Cuba, testified to the U.S. Senate in 1960 that, "Until Castro, the U.S. was so overwhelmingly influential in Cuba that the American ambassador was the second most important man, sometimes even more important than the Cuban president."
In addition, nearly "all aid" from the U.S. to Batista's government was in the "form of weapons assistance", which "merely strengthened the Batista dictatorship" and "completely failed to advance the economic welfare of the Cuban people".
Such actions later "enabled Castro and the Communists to encourage the growing belief that America was indifferent to Cuban aspirations for a decent life."

According to historian and author James S. Olson, the U.S. government essentially became a "co-conspirator" in the arrangement because of Batista's strong opposition to communism, which, in the rhetoric of the Cold War, seemed to maintain business stability and a pro-U.S. posture on the island.
Thus, in the view of Olson, "The U.S. government had no difficulty in dealing with him, even if he was a hopeless despot."
On October 6, 1960 Senator John F. Kennedy, in the midst of his campaign for the U.S. Presidency, decried Batista's relationship with the U.S. government and criticized the Eisenhower administration for supporting him:
Fulgencio Batista murdered 20,000 Cubans in seven years ... and he turned Democratic Cuba into a complete police state—destroying every individual liberty.
Yet our aid to his regime, and the ineptness of our policies, enabled Batista to invoke the name of the United States in support of his reign of terror.
Administration spokesmen publicly praised Batista—hailed him as a staunch ally and a good friend—at a time when Batista was murdering thousands, destroying the last vestiges of freedom, and stealing hundreds of millions of dollars from the Cuban people, and we failed to press for free elections.
At the beginning of 1959 United States companies owned about 40 percent of the Cuban sugar lands—almost all the cattle ranches—90 percent of the mines and mineral concessions—80 percent of the utilities—practically all the oil industry—and supplied two-thirds of Cuba's imports.
— John F. Kennedy
In a manner that antagonized the Cuban people, the U.S. government used its influence to advance the interests of and increase the profits of the private American companies, which "dominated the island's economy". By the late 1950s, U.S. financial interests owned 90% of Cuban mines, 80% of its public utilities, 50% of its railways, 40% of its sugar production and 25% of its bank deposits—some $1 billion in total. According to historian Louis Perez, author of the book On Becoming Cuban, "Daily life had developed into a relentless degradation, with the complicity of political leaders and public officials who operated at the behest of American interests." As a symbol of this relationship, ITT Corporation, an American-owned multinational telephone company, presented Batista with a Golden Telephone, as an "expression of gratitude" for the "excessive telephone rate increase" that Batista granted at the urging of the U.S. government.
Earl E. T. Smith, former U.S. Ambassador to Cuba, testified to the U.S. Senate in 1960 that, "Until Castro, the U.S. was so overwhelmingly influential in Cuba that the American ambassador was the second most important man, sometimes even more important than the Cuban president." In addition, nearly "all aid" from the U.S. to Batista's government was in the "form of weapons assistance", which "merely strengthened the Batista dictatorship" and "completely failed to advance the economic welfare of the Cuban people". Such actions later "enabled Castro and the Communists to encourage the growing belief that America was indifferent to Cuban aspirations for a decent life."
According to historian and author James S. Olson, the U.S. government essentially became a "co-conspirator" in the arrangement because of Batista's strong opposition to communism, which, in the rhetoric of the Cold War, seemed to maintain business stability and a pro-U.S. posture on the island. Thus, in the view of Olson, "The U.S. government had no difficulty in dealing with him, even if he was a hopeless despot." On October 6, 1960 Senator John F. Kennedy, in the midst of his campaign for the U.S. Presidency, decried Batista's relationship with the U.S. government and criticized the Eisenhower administration for supporting him:
Fulgencio Batista murdered 20,000 Cubans in seven years ... and he turned Democratic Cuba into a complete police state—destroying every individual liberty. Yet our aid to his regime, and the ineptness of our policies, enabled Batista to invoke the name of the United States in support of his reign of terror. Administration spokesmen publicly praised Batista—hailed him as a staunch ally and a good friend—at a time when Batista was murdering thousands, destroying the last vestiges of freedom, and stealing hundreds of millions of dollars from the Cuban people, and we failed to press for free elections.
Fulgencio Batista