OBAMA – PRESIDENT FOR THE 1%, WALL ST
LOOTERS, HIS CRIMINAL BANKSTER DONORS, AND THE MEXICAN FASCIST PARTY of LA RAZA
ILLEGALS!
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THE RICH LOVE HIM! ILLEGALS ADORE HIM!
HE’S MEXICO’S ANSWER TO WELFARE. “FREE” GRINGO-PAID HEALTHCARE AND ANCHOR BABY
BREEDING… EVEN THE MEXICAN DRUG CARTELS APPRECIATE THE WAY OBAMA HAS NEUTERED
BORDER SECURITY AND HELPED THEM EASE DRUG CARTELS INTO OUR NATION.
OBAMA! THE BIGGEST PUNKSTER IN AMERICAN
HISTORY!
HE WALKS ABOUT LIKE A SOVEREIGN
PRETENDING TO BE ABOVE IT ALL AS HE SERVICES HIS CRIMINAL BANKSTER DONORS AND TURNS THE WHITE HOUSE INTO HEADQUARTERS
FOR THE LA RAZA SUPREMACIST PARTY.
REALITY OF AMERICAN UNDER OBAMA’S ASSAULT ON THE AMERICAN
WORKER:
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Proving that President Obama is the first choice of Wall
Street and the American super-rich, his reelection campaign announced Wednesday
that it had broken all previous records for fundraising, raking in $86 million
during the second quarter of this year.
Obama
campaign raises record sums from the wealthy
By
Patrick Martin
15 July 2011
15 July 2011
Proving that President Obama is the first choice of Wall
Street and the American super-rich, his reelection campaign announced Wednesday
that it had broken all previous records for fundraising, raking in $86 million
during the second quarter of this year.
The $86 million total dwarfed the
previous record for presidential reelection fundraising, the $50 million raised
by George W. Bush in the third quarter of 2003. It was far above the $60
million target set by Obama’s campaign manager, Jim Messina.
Obama for America, the official name of
the reelection effort, raised $47 million, while the Democratic National
Committee collected $38 million, largely from fundraising events featuring the
president, where big donors are allowed to give up to $30,800 apiece.
Individual donations to Obama for America are limited under federal election
laws to a maximum of $5,000.
By comparison, the leading Republican
fundraiser, former Massachusetts governor and investment banker Mitt Romney,
raised $18.25 million in the April-June quarter. The total raised by all the
Republican presidential hopefuls who have filed reports with the Federal
Election Commission came to only $36 million, less than half Obama’s haul.
The Obama reelection campaign will be
the most lavishly funded in American history. It is expected to dwarf the $745
million Obama raised in 2008, and could top the $1 billion mark. Only two
decades ago, $20 million was sufficient to finance a full-scale presidential
campaign.
According to press accounts, the Obama
campaign has already opened 60 offices in various states around the country,
nearly a year and a half before Election Day, and hired hundreds of full-time
operatives.
The vast fund-raising comes in two
relatively distinct components: over half a million small donors, reflecting
lingering illusions in Obama in sections of the population; and large donors,
from the wealthy and the most affluent sections of the upper-middle class.
A total of 552,462 individuals gave
money during the second quarter, including 260,000 who made no donations during
the 2008 campaign. Of these, 98 percent were of $250 or less, with an average
contribution of $69. Based on that average, the small donations accounted for
less than half the total raised, about $37 million.
The remainder, about $49 million, came
in large-dollar contributions, including thousands who gave the maximum of
$35,800—$30,800 to the DNC and $5,000 to Obama for America.
The Washington Post noted, “Much
of the tens of millions Obama raised through the Democratic National Committee
came from big fundraising events that the president attended throughout the
spring. Donors to the DNC can give up to $30,800, and many of those who made
the maximum contribution got to attend intimate, invitation-only dinners at
which the president took their questions behind closed doors.”
Moreover, the total number of small
donors was deliberately inflated by a promotion run by the campaign in which
anyone who gave as little as $5 was entered into a lottery for a dinner with
Obama and Vice President Biden.
The Obama campaign, clearly concerned
about releasing information that would demonstrate corporate America’s
enthusiasm for the president’s reelection, declined to say how much Obama for
America raised from large donors. These numbers will be buried in the
15,000-page report the campaign files Friday with the FEC.
The report to the FEC will also detail
the amount raised by “bundlers,” those who solicit donations from a group of
individuals and reach a total set by the campaign, of $350,000 or more, as well
as a group called Gen44, consisting of individuals younger than 40 who raise
$100,000 or more.
While the 2008 Obama campaign was
regularly described as fueled by small donors, the actual figures demonstrate
the opposite: Obama did indeed raise $180 million from that source, but that
came to less than one-quarter of his overall fundraising. Nearly half of his
total—and the bulk of the early money, critical to sustaining his campaign
against the initial frontrunner, Hillary Clinton—came from big donors.
Some details of the wooing of
big-ticket donors were reported in the Washington press. The Post
reported June 29, “Campaign officials are working to broaden Obama’s network of
‘bundlers,’ the well-connected rainmakers tasked with soliciting big checks
from wealthy donors, while seeking to preserve the aura of a grass-roots
movement by luring back the kind of small Internet donations that helped
shatter fundraising records four years ago. Obama has attended 28 fundraisers
from coast to coast—a pace that could continue, or even accelerate, over the
next several months.”
The Post noted that White House
Chief of Staff William Daley, former vice chairman of JP Morgan Chase “has
huddled in recent weeks over breakfasts and dinners with business leaders and
Wall Street financiers in Chicago, New York and Washington,” while campaign
manager Messina “made his pitch during at least two meetings in Manhattan with
Wall Street executives.”
Politico described one Wall Street fundraising dinner held at
Daniel, a top-drawer restaurant on Manhattan’s Upper East Side: “The tables
were filled with moneymen like Marc Lasry, the billionaire founder of the hedge
fund Avenue Capital; Robert Wolf, the chief executive of UBS Group Americas;
and Mark T. Gallogly, a co-founder of Centerbridge Partners.”
While noting the absence of Jamie Dimon
of JP Morgan Chase and Lloyd Blankfein of Goldman Sachs, this was said to be by
mutual agreement—an effort to avoid photographs of the president shaking hands
with the CEOs of the largest recipients of federal bailouts.
“While Wall Street executives still
complain about the president’s name-calling and pressure for a regulatory
overhaul,” Politico observed cynically, “many say privately that his
bark has been worse than his bite.”
The event raised $2.3 million in a
single evening, far more than the projected $1.5 million. Politico
concluded that “Obama’s campaign set a goal of getting 400 individuals to each
help raise $350,000 by year’s end. That may sound like a tall order—especially
with much of Wall Street on the sidelines—but early indications suggest the
effort is on track, according to people involved in the campaign.”
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WASHINGTON — This is one anniversary few feel like celebrating.
Two years after economists say the
Great Recession ended, the recovery has been the weakest and most lopsided of
any since the 1930s.
After previous recessions, people in
all income groups tended to benefit. This time, ordinary Americans are
struggling with job insecurity, too much debt and pay raises that haven't kept
up with prices at the grocery store
and gas station. The economy's meager gains are going mostly to the wealthiest.
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CHECK OUT OBAMA’S LA RAZA INFESTED ADMINISTRATION:
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“What's
needed to discourage illegal immigration into the United States has been known
for years: Enforce existing law.” ….. CHRISTIAN SCIENCE MONITOR
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For years, statistics have depicted growing income disparity in the United States, and it has reached levels not seen
since the Great Depression. In 2008, the last year for which data are
available, for example, the top 0.1 percent of earners took in more than
10 percent of the personal income in the United States, including capital
gains, and the top 1 percent took in more than 20 percent. But economists
had little idea who these people were. How many were Wall street financiers?
Sports stars? Entrepreneurs? Economists could only speculate, and debates over
what is fair stalled.
Now a mounting body of economic
research indicates that the rise in pay for company executives is a critical
feature in the widening income gap.
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“All of
these writers proceed from a fact of American life that is becoming impossible
to deny: the sharp divergence in the fortunes of the banks and investors, on
the one hand, and the broad mass of the population, on the other. The Wall
Street giants, the very firms that precipitated the financial crisis, are doing
better than ever. They are planning record bonuses while unemployment continues
to soar and wages are declining at a rate not seen in decades.”
*
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THE ENTIRE REASON OUR
BORDERS ARE LEFT OPEN IS TO KEEP WAGES DEPRESSED WITH MILLIONS OF ILLEGALS
FLOODING OVER OUR BORDER! ERGO, OBAMA HAS SABOTAGED OUR HOMELAND SECURITY,
SABOTAGED E-VERIFY AND WORKED FOR ENDLESS AMNESTY PLOYS LIKE “DREAM ACT”, AND
CONTINUED NON-ENFORCEMENT.
*
There
is emphatic opposition to any such measure within the corporate-financial elite
and, as Monday’s public relations event demonstrated, Obama rejects any
government job-creation program or any other measure that might cut into corporate
profits.
*
Obama
promotes corporate profits in the name of job creation
By
Barry Grey
14 June 2011
14 June 2011
In the face of rising unemployment, a
disastrous jobs report for May and a contraction in economic growth in the US
and internationally, President Barack Obama made it clear at a meeting Monday
with his Jobs and Competitiveness Council that no government measures will be
taken to create jobs or provide serious relief for the unemployed.
The meeting was held at the
manufacturing headquarters of Cree, Inc., a producer of LED lighting equipment
in Durham, North Carolina. After the meeting, Obama gave a speech to Cree
employees in which he touted the proposals of the corporate-dominated Jobs
Council, which he set up last February as part of White House efforts to shore
up business support for his administration following the Democratic debacle in
the November 2010 congressional elections.
The photo-op was designed at one level
to fool the public into believing that the administration is seriously working to
create jobs and put an end to mass unemployment. But the main focus of Obama
and other White House officials was to reassure the corporate and financial
elite that there will be no retreat from policies of austerity, wage-cutting
and deregulation despite the worsening economic and social crisis.
In remarks to the Jobs Council prior to
his speech to the Cree workers, Obama was shameless in his fawning before the
corporate CEOs whom he had selected for the purported purpose of spearheading
the drive for jobs.
Obama declared: “So we’ve got a
combination of factors, as Jeff [Council Chairman Jeffrey Immelt, CEO of
General Electric] said, that come into how do we create jobs. I cannot think of
a better group of people to help us tackle it than those who are sitting around
the table.”
That group included the CEOs of GE,
Intel, Xerox, UBS, American Express, Southwest Airlines, DuPont, Eastman Kodak,
Comcast, Facebook, and the banking giants Citigroup and UBS. It also included
Obama’s longtime financial backer Penny Pritzker, a multi-millionaire Chicago
real estate mogul, and Joseph T. Hansen, president of the United Food and
Commercial Workers Union. Richard Trumka, president of the AFL-CIO, who is also
on the council, did not attend the event.
Obama repeated the complacent mantras
of White House spokesmen about 2 million new jobs having been created over the
past 15 months (compared to 7 million jobs lost since the current recession
began) and dismissed the rise in unemployment to 9.1 percent (9.7 percent in
North Carolina) and the virtual collapse in payroll gains as “headwinds.”
He made a point of reiterating his
support for massive cuts in social spending, boasting that Washington was
“getting its act together and making sure that we’ve got a credible plan for not
simply raising the debt limit but also medium- and long-range deficit
reduction.”
Noting that at the first meeting of the
council in March the assembled CEOs and bankers had demanded a reduction of
regulations on business, Obama said, “I took this very much to heart.” He
continued: “So what we’ve done is to initiate a full-scale review not just of
pending regulations, but actually looking back for the first time at all
existing regulations.”
Obama went on to brag that the White
House had already singled out scores of regulations for elimination by
executive order. One can only surmise that the corporate bosses and bankers in
the room were rubbing their hands in anticipation of the increased profits that
will result from the gutting of rules designed to protect worker health and
safety, safeguard and the environment, and limit consumer fraud.
Obama made sure, before completing his
remarks, to repeat the obligatory obeisance to capitalism, declaring: “As Jeff
said, ultimately job growth is going to be driven by the private sector.”
The role of government, Obama
reiterated, is to enact policies that facilitate profit-making. “But we can
make some smart decisions,” he said, “to encourage businesses to feel like this
is the right time to invest and that America is the right place to invest.”
In his remarks to the employees, Obama
sought to play up token job creation proposals from the Jobs Council that are
so paltry as to be insulting. “And today, with the Jobs Council,” he said,
“we’re announcing an all-hands-on-deck strategy to train 10,000 new American
engineers every year.”
This is said in a country with,
according to official figures, nearly 14 million unemployed, including 6
million out of work for six months or more!
The president went on to tout a
proposal to bring together community colleges and companies to train people for
high-skill jobs. Meanwhile, the White House is presiding over an unprecedented
assault on public education and vicious attacks on teachers across the country.
Obama also announced an utterly vague
Better Buildings Initiative that will supposedly put construction workers back
to work upgrading buildings for energy efficiency.
In a Wall Street Journal column
published Monday, Jobs Council Chairman Immelt and American Express CEO Kenneth
Chenault, another council member, listed deregulation and four other proposals
which they said could generate 1 million jobs over two years. Even were this
figure accurate, it would barely make a dent in an economy that needs to create
11 million jobs to make up for those lost combined with the normal growth in
the labor force.
Entirely absent from Obama’s remarks
was any acknowledgment of the social crisis and worsening human suffering in
America. Words such as “poverty,” “foreclosure,” “homelessness” and “hunger”
were not uttered.
White House officials who accompanied
Obama were, if anything, even more transparent in their indifference toward the
American people and servility toward big business. White House adviser and
Chicago real estate multi-millionaire Valerie Jarrett said in a briefing with
reporters: “We have had 15 straight months of private sector job creation and
seven straight quarters of growth. We are moving in the right direction… There
is broad agreement that the recovery will be driven by the private sector.”
Austan Goolsbee, chairman of the White
House Council of Economic Advisers, said in an interview on Bloomberg TV, “We
want to be for any policies that are going to help incentivize and stand up the
private sector to drive the recovery.”
Nothing was said about the fact that
the corporate elite represented by the members of the council is raking in
record profits and awarding itself ever-higher compensation, while sitting on a
cash hoard of $2.6 trillion and refusing to spend it on hiring workers.
The reality is that corporate America,
with the support of the government, is using mass unemployment as a bludgeon to
drive down wages, destroy working conditions and force workers to accept
poverty wages and sweatshop conditions. The same process is unfolding
internationally, as the bourgeoisie utilizes the crisis of its own making to
destroy social gains won by the working class over more than a century of
struggle.
Council Chairman Immelt’s company, GE,
is a case in point. It made a profit of $14.1 billion in 2010, and yet it paid
no federal taxes. On the contrary, the government paid it $3.2 billion in tax
credits.
Immelt himself saw his compensation
double to $15 million. Meanwhile, GE earlier this year sought to impose a 25
percent pay cut on new-hires at its River Works plant in Lynn, Massachusetts as
the price for keeping a section of the complex open. When the workers balked,
GE finalized the facility’s closure.
The complete subordination of the Obama
administration to Wall Street was further documented in an article published
Monday by the New York Times on the feverish efforts of the White House
to make amends with bankers and financiers alienated by the very minor
restrictions contained in the financial regulatory bill passed last year. The campaign
is being led by his chief of staff, William Daley, the former JPMorgan Chase
executive Obama appointed last year to replace the outgoing Rahm Emanuel.
The article reported that Obama hosted
a White House dinner last March for two dozen Wall Street executives, which was
followed in April by back-to-back meetings of his 2012 reelection campaign
manager with Wall Street donors in New York. This month Obama will travel to
New York to host a dinner with bankers, hedge fund executives and private
equity investors at the exclusive Upper East Side Manhattan restaurant Daniel.
There is a minority within the
Democratic Party establishment that is concerned over the political and social
implications of the jobs crisis and the Obama administration’s openly
right-wing, pro-corporate response. In the short term, they fear Obama will
lose the 2012 election. More fundamentally, they fear the growth of social
opposition.
One of these, Robert Reich, the former
labor secretary under Bill Clinton, pleaded with Obama on the Sunday news
interview program, “This Week with Christiane Amanpour,” to propose a jobs
program. He suggested something akin to Roosevelt’s Depression-era Works
Projects Administration and Civilian Conservation Corps for the 6 million
people unemployed for six months or more.
There is emphatic opposition to any
such measure within the corporate-financial elite and, as Monday’s public
relations event demonstrated, Obama rejects any government job-creation program
or any other measure that might cut into corporate profits.
The presence on the reactionary Jobs
and Competitiveness Council of union leaders Trumka and Hansen underscores the
corporatist and anti-working class character of the official trade union
organizations. They support the destruction of the living standards of the
working class, seeking only to secure the position and privileges of the union
executives as accomplices in the attacks on working people.
As in Europe and Asia, where
governments are pursuing ruthless austerity policies to impoverish the workers,
working people in the US can defend the social right to a job and a living wage
only on the basis of a revolutionary political struggle against the capitalist
system and all of its political representatives.
*
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“All of these writers
proceed from a fact of American life that is becoming impossible to deny: the
sharp divergence in the fortunes of the banks and investors, on the one hand,
and the broad mass of the population, on the other. The Wall Street giants, the
very firms that precipitated the financial crisis, are doing better than ever.
They are planning record bonuses while unemployment continues to soar and wages
are declining at a rate not seen in decades.”
*
“Herbert
(“Safety Nets for the Rich,” October 20), adopts a populist tone, complaining,
“Even as tens of millions of working Americans are struggling to hang onto
their jobs and keep a roof over their families’ heads, the wise guys on Wall
Street are licking their fat-cat chops over yet another round of obscene
multibillion-dollar bonuses—this time thanks to the bailout billions that were
sent their way by Uncle Sam, with very little in the way of strings attached.”
*
Underlying
both columns is the concern that the Obama administration’s promises of “hope”
and “change” are increasingly perceived by those who voted for Obama as hollow
phrases. Rich complains that Treasury Secretary Timothy Geithner is “tone deaf”
and that “an air of entitlement” wafts from the administration.
People are
beginning to feel that they have been duped into lending their support to a
government that is unreservedly serving the interests of the banks. To the
layer of the liberal establishment represented by Obama’s journalistic would-be
advisers, the eruption of opposition to the Obama administration would be an
unmitigated disaster.
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WALL STREET’S RAPE AND PILLAGE OF A NATION… and it ain’t
over!
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More
than 5 million households had their wealth wiped out since 2005
By
Andre Damon
28 July 2011
28 July 2011
The typical US household lost 28
percent of its wealth during the economic crisis, with one third of these being
totally wiped out, according to a recent analysis of Census Bureau data carried
out by the Pew Research Center, “Wealth Gaps Rise to Record Highs Between
Whites, Blacks and Hispanics”.
While the study headlines racial
disparities, the most striking findings concern the general impoverishment of
all sections of the population. The percent of US households who have a net
worth of zero dollars or below—meaning they have more debts than assets—grew
from 15 percent in 2005, to 20 percent in 2009. This means that 5.6 million
households, or about 15 million people, had their wealth totally wiped out
during the first part of the economic downturn. These figures come from an
analysis of Census Bureau survey data for 2005 and 2009.
The study found that, after adjusting
for inflation, the median wealth of US households fell from $96,894 in 2005 to
$70,000 in 2009, a drop of 28 percent. The majority of this is attributable to
the precipitous fall in real estate values, by about 30 percent between 2006
and 2009 and even more since.
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MEXICANOCCUPATION.blogspot.com, JUDICIAL WATCH.org &
WIKIleaks EXPOSES OBAMA’S AGENDA OF OPEN BORDERS, FUNDING OF LA RAZA SUPREMACY,
AND HISPANDERING FOR THE ILLEGALS’ VOTES!
SHOCKING!
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