Making BFFs – Obama Curries Favor with Big Business and 1%ers

Editor’s Note – For almost six years as President, along with his campaign rhetoric prior, and his short stint in the Senate, Obama has railed against big business, fat cats, bankers, Wall Street, and beyond. He always tried to appeal to the masses as being separate from the 1%, and for the 99%.

The problem is, he IS part of the 1% and caters to their needs in order to line Democrat Party coffers as well his two campaigns for the Oval Office. Hypocrisy is a word to describe others, while he sees himself as doing what has to be done to achieve his goals. He is the king of the ‘say or do anything crowd’ to get your way and becoming BFFs with big business.

Picking winners and losers, dividing peoples and industries, catering to the wealthy as he vacations on Martha’s Vineyard, and golfing with the elites of the world are his stock in trade. Why do his followers and the MSM not see him as the fake and fraud he really is?

Why the White House Is Now Trying to Be Besties with Big Business

By Gerren McHam – Daily Signal

Ready for a backroom deal brokered by the White House?

White House officials met Monday with business leaders and interest groups to talk about executive actions President Obama should consider on immigration, per press reports. Instead of working to secure the southern border, the White House appears to be looking to obtain allies for its administrative amnesty approach that is unjust, costly, and will increase illegal immigration.

Unfortunately, government and big business collusion is nothing new. We’ve seen them team up to support the Export-Import Bank and back a nearly 1,000 page comprehensive immigration bill that purported to have something for everyone.United States Export-Import Bank

So what opportunities are up for grabs on immigration? The president will likely insist on an administrative amnesty for perhaps as many as five million illegal immigrants.

According to Politico, business leaders and interest groups are advocating for measures that include “allowing spouses of workers with high-tech visas to work, recapturing green cards that go unused, and making technical changes for dual-purpose visa applications.”

The implication is that if the White House gives them some of these goodies, they will support Obama’s inappropriate administrative amnesty.

Lost in the conversation are those who lose out or who aren’t shown the same favoritism as the involved players, such as the American taxpayer who has to foot the bill for illegal immigration. Legal immigrants and those waiting patiently in line to immigrate from abroad legally also will lose

Other business interests are being left out, too. For example, as Politico mentions, representatives of the construction industry would like their slice of the pie by incorporating a low-skilled worker provision into any executive action agreement.

This semi-comprehensive approach is frustrating the left. “All bets are off” for broader immigration reform if Obama continues down this road, said Tamar Jacoby of Immigration Works USA, a pro-immigration reform group,adding that “Obama will poison the well” if he continues excluding their members—many of which are builders and contractors—from private discussions and neglecting to include their own carve outs in Obama’s final orders.

With similar negative responses from other groups, it’s easy to see why the administration continues to communicate that everything is still up for consideration

So why is Obama pursuing this partnership with Big Business?

“White House officials are in talks with business leaders that could expand the executive actions President Barack Obama takes on immigration.”
“White House officials are in talks with business leaders that could expand the executive actions President Barack Obama takes on immigration.”

For the administration, such a partnership would help blunt criticism. Instead of faithfully enforcing our immigration laws, the administration has gone out of its way to undermine them, making promises to supporters of amnesty that Obama will do everything within his power to address immigration through executive action.

Unfortunately for them, a recent CNN poll indicates that 45 percent of Americans believe Obama has gone far enough with executive action, leaving one to believe that handling the immigration issue unilaterally may prove unpopular.

As the New York Times points out, the administration is “essentially making policy from the White House, replacing congressional hearings and floor debates with closed meetings for invited constituents.” This “go-it-alone” approach is a far cry from an administration that “claims to be the most transparent in United States history.”

With the November elections quickly approaching, the Obama administration is likely trying to both appease its supporters and also be able to show. a collective front from business. So instead of focusing to secure the border and properly address the crisis of young accompanied minors, the White House appears to be pursuing business as usual in Washington—something we have unfortunately grown to expect.

End Corp Welfare -Ex/Im Bank Up for Reauthorization

Editor’s Note – Distorting the markets – that is what the Export/Import Bank really accomplishes, or should we say is a huge failure. This of course leads to political usefulness and it has been a tool used often. Obama’s selection of Fred P. Hochberg to run the bank is just another political pay back for support of crony capitalism.

OpenSecrets classified Hochberg as a major fundraising ‘bundler’ for the 2008 Obama campaign, collecting between 100,000 [sic] and $200,000.” He is the son of the founder of the Lillian Vernon mail order empire.

Fred P. Hochberg
Fred P. Hochberg

This bank makes great crony deals that defy logic and reason and you the taxpayer are the one on the hook, especially when their investments go belly-up. Please read the following then watch the short video below. It explains an awful lot and we need to stop the bank and Hochberg from being re-confirmed.

Read more here, and more Ex/Im crony capitalism here. There are many other examples as well.

It’s time to close the doors of the Export-Import Bank

By AL CARDENAS – Washington Examiner

Amid a flurry of recent scandals, one management failure is consistently overlooked — the Export-Import Bank of the United States. The Ex-Im was created during the Great Depression to help spur economic growth through international trade.

Originally, the agency sought to facilitate trade by financing and insuring foreign purchases of American goods. The Ex-Im’s goal was to increase the competitiveness of domestic companies by placing them on even footing with their foreign competitors.

Unfortunately, this plan has been derailed and the bank has become a detriment to American employers. The Ex-Im now reigns as the king of corporate welfare doling out subsidies to some of America’s wealthiest corporations.

Boeing, a company that earned roughly $80 billion in revenue last year, is the largest benefactor of Ex-Im’s corporate welfare. In 2012 alone, Boeing received more than 82 percent of Ex-Im’s total loan guarantees or roughly $12.2 billion.

What is worse is that these loans allowed foreign airlines to purchase Boeing aircraft at below-market rates and with advantageous terms; meanwhile, American carriers are forced to bear higher costs and less favorable loan terms and thus placed at a competitive disadvantage to their foreign counterparts.

According to some estimates, the Ex-Im has caused the U.S. airline industry to lose up to 7,500 jobs and approximately $684 million.

In addition to financing foreign rivals and distorting global markets, the Ex-Im also perverts the domestic economy by guaranteeing loans to companies of questionable financial health. Perhaps the most prominent example is Solyndra, a now bankrupt company that was politically connected to the Obama administration, benefited from a generous $10.3 million Ex-Im loan guarantee.

Solyndra is not the only instance of Ex-Im’s dubious track record; it has also guaranteed loans to a number of bankrupt companies, including Enron, threatening the loss of millions of taxpayer dollars. Simply put, the federal government’s track record of picking winners and losers is abysmal, especially considering the monies are backed by the goodwill of Joe and Jane Public.

In 2012, Congress passed legislation that reauthorized Ex-Im’s charter as lawmakers were no longer able to turn a blind eye to the bank’s egregious actions. As a result, the reauthorization legislation included language that called for Ex-Im officials to rein in their lending practices.MikeLeeEndExIm

Such language is critical because a reduction of loan guarantees helps control America’s exposure to risk, ultimately limiting taxpayers’ liability for a financial disaster, while also stemming policies that hurt employees and employers.

Further, the legislation was significant because it mandated that the Ex-Im analyze the impact of its financial transactions on American jobs. Yet, Ex-Im has thwarted congressional demands and refused to comply with the recent legislation.

Led by Ex-Im president Fred Hochberg (who’s currently up for Senate re-confirmation), the bank continues to authorize the subsidized sale of aircrafts at the expense of American carriers. In fact, the Ex-Im has been taken to court for failing to follow the law; specifically, for allegedly failing to comply with Congress’ mandate to consider the economic impact of its loans and make public any methodological guidelines for use in economic analyses.

In response to the risk posed by Ex-Im’s actions, Sen. Mike Lee, R-Utah, and Rep. Justin Amash, R-Mich., recently introduced bills in their respective chambers to wind down the federal agency. The American Conservative Union has previously supported efforts to shut down this antiquated agency and stands with Lee and Amash in support of their recent legislation.

While it is important for America to increase exports, it is imperative that we do so in a fashion that does not promote cronyism by picking winners and losers, and put American jobs at risk. The American Conservative Union endorses the Lee-Amash legislation and an end to corporate welfare.

Al Cardenas is chairman of the American Conservative Union (ACU).

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