Monday, April 23, 2012

Wall Street 101 Obama-style!

According to the campaign rhetoric of Barack Obama it's the greed of the "folks" on Wall Street that represents a clear and present danger to the economic well being of the United States!

Why else would the President be proposing government regulation of the crude oil market to try and "protect" Americans from the way that free markets work?

Could it be just good old political pandering to the masses by keying on a group that the Obama administration has so far had good luck portraying as one of the key villains in the economic angst of the country.

From TPC yesterday, "...President Obama, in full campaign mode, is trying to vilify the "speculators" on Wall Street as the root cause for the upward spike in the price of crude oil. As the President likes to say these speculators are some of the same "Wall Street folks" who through their greed  helped to create our nations financial crisis that is so hurting the "regular folks" around the country..." (The Political Commentator)

So why then is the President accepting campaign donations from one of the worst Wall Street villains, Jon Corzine of MF Global?

A) Just more hypocrisy from this President?
B) Another example of the money first, last and always nature of this President?
C) From the lack of MSM coverage Obama wanted to provide another opportunity for the media to climb into bed with the Democrat Party?
D) Another chance for this President to proclaim ignorance and then return the money?
E) When contributions become harder to find you take them where you can get them?
F) An opportunity to give what appears to be preferential treatment to a campaign donor in a legal case?
G) All of the above

Obviously this story smells and will just as obviously get whitewashed by the media that so desperately wants to see an Obama 2nd term.

However, the fact that Jon Corzine has to date remained somewhat unscathed by the MF Global collapse may be explained in no small measure by the story above.

So that you, the readers of TPC, can get your arms around this episode this is a brief summary from which you can draw your own conclusions!

"...He’s in the $500,000+ club for the first quarter of this year, the most elite group there is among O’s cash cows. You know what else happened during that quarter? News broke that more than a billion dollars in MF Global client funds had apparently been “vaporized” in the firm’s collapse, with investigators clueless as to where the money might have gone. As recently as last month, new evidence emerged pointing to Corzine’s direct involvement in using clients’ cash to cover the firm’s debts. And yet, presumably, he was squeezing his rich friends for dough for Obama the whole time. Ace asks a good question: “Why is a man under investigation by a government agency permitted to raise money for the man who controls that agency?” Wouldn’t be the first time Corzine’s used his political leverage to personal advantage..." (Hot Air)

Picture source

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