admin | On 24, May 2012

Obama’s assault strategy against Bain Capital seems to have a lot of us scratching our noggins as to the nature of these attacks.  Why in the world would he go after an industry that has supported his efforts time and time again?

In addition to that, Cory Booker’s previous statements have even suggested that many of the Presidents party friends are on the payroll (or are invested in the private equity industry’s success.)  Many believe him to be a radical Fabian socialist, but let us have a look at Obama’s own closest affiliations to make the distinction if this is a mere power play to preserve his seat as POTUS or if he is actually as ideologically insane and misguided as we’ve supposed.

Peter Morici of Fox News talks about Obama’s campaign promises of 2008, painting him as a “spread the wealth” kind of guy to his “poverty-stricken” and welfare-supported voter base.

President Obama promised a lot when he ran for president—to fix the trade deficits with China and on oil, which together steal some five million jobs, curb the excesses at Wall Street banks, and curb escalating health care costs.”

He further writes,

In perfectly choreographed fashion, the Bain ad characterized Mr. Romney as someone who bought up healthy businesses, loaded them with debt and then drove into bankruptcy—destroying jobs to enrich his private equity partners.”

Clearly, Obama appears to be against wealth going to the successful, the people who have pretty good ideas about how commerce and business operate and prosper.  It would seem as if he believes that this money should be divided up and distributed to the “lower classes” right?  That sounds pretty socialist of him.

However, even the admitted socialists have their doubts. On April 6, 2009, the World Socialist Web Site (WSWS.org) goes on to talk about their feelings of the sitting “Socialist-In-Chief”.  In their own words, they discuss several of Obama’s known and hand-picked associates:

The case of Lawrence Summers, director of the National Economic Council and Obama’s top economic adviser, highlights the politically incestuous character of relations between the Obama administration and the American financial elite.”

WSWS.org goes on to say that,

Michael Froman, deputy national security adviser for international economic affairs, worked for Citigroup and received more than $7.4 million from the bank from January of 2008 until he entered the Obama administration this year.”

The students of Marx continue showing their disgust:

David Axelrod, the Obama campaign’s top strategist and now senior adviser to the president, was paid $1.55 million last year from two consulting firms he controls.”

And then they talk about another player…

Obama’s deputy national security adviser, Thomas E. Donilon, was paid $3.9 million by a Washington law firm whose major clients include Citigroup, Goldman Sachs and the private equity firm Apollo Management.”

And then another…

Neal Wolin, Obama’s selection for deputy counsel to the president for economic policy, is a top executive at the insurance giant Hartford Financial Services, where his salary was $4.5 million.”

It is becoming clear that this bleeding-heart liberal lamb has certainly become pals with Wall Street wolves.  This is perhaps one of the major reasons why it may be a smart call for him to stop calling out Bain.  Crying wolf is no use when you’re one of them.