Obama Street Gang
By Peter Andrew ConservativeAmerican.org
In our 3/20/09 post, “Lynching AIG,” we noted that the President and his Chicago-style Pizza Politicians were running Washington like a street gang, using mob mentality. Leading the way Right, this ConservativeAmerican.org notion is catching on now. University of Maryland Senior Research Scientist John Lott, author of ‘Freedomnomics’ has a great article on Fox news about the THUG mentality of the Obama Street Gang. Here’s a portion of it…
John Lott
So much for any hope that the government would uphold rules and abiding by contracts. Instead, we keep getting examples of something else – that when President Obama fails to persuade firms to follow his wishes, he does not hesitate to use threats of financial destruction.Cliff Asness, the co-founder of the $20 billion hedge fund AQR Capital Management, laid bare the latest attacks with an open letter on Wednesday:
“The President screaming that the hedge funds are looking for an unjustified taxpayer-funded bailout is the big lie writ large. Find me a hedge fund that has been bailed out. Find me a hedge fund, even a failed one, that has asked for one. In fact, it was only because hedge funds have not taken government funds that they could stand up to this bullying. The TARP recipients had no choice but to go along.”
This is just the latest in a string of intimidating tactics starting with threatening costly public audits to get compliance. Then there were the threats of firing CEOs who had the audacity to oppose government plans. The very latest is threats to use “ the full force of the White House press corps [to] destroy [the firm Perella Weinberg's] reputation” if it resisted the government stealing their money, according to Thomas Lauria [OUR NOTE: SEE SCANDAL #245] who represented the firm up until last week. ABC News’s Jake Tapper reports that Mr. Steven Rattner,[OUR NOTE: SEE SCANDAL #211] the head of the auto task force, made the threat.
The White House has been pushing hard to nationalize the automobile companies. While bondholders and the government have loaned similar amounts each to GM and Chrysler, the White House feels that the government should get 50 percent ownership of GM[OUR NOTE: SEE SCANDAL #247] and the creditors about 10 percent.
The Wall Street Journal reports that unions are also being given stock that should be going to the creditors – 39 percent of GM and 55 percent of Chrysler[OUR NOTE: SEE SCANDAL #245] .
Most of the financial institutions holding these bonds have gone along with Obama’s nationalization of the car companies for a simple reason – the government has already nationalized them and they do the government’s bidding.
This is very important stuff. Our nation is plummeting into a Socialist country to the cheers of blind democrats who, either can’t see what is happening because of their Obama blinders, or don’t care what is happening because they agree Capitalism must be defeated.
On the Official Obama Administration Scandals List, this is huge. Along with the references above, he lied three times on his 100th day in office about all of this. See Scandals #248-#250 for details. Email all your friends and tell them about this. Tell them about the Scandals List and to check this out. Each scandal is backed up with legit sources, data and detail.
Read the rest of Lott’s article here. 2010 can’t come soon enough.
