Archive for November 25th, 2011

Analysis: Bankers Unsupport Obama

Friday, November 25th, 2011

Obama Bonus

Lloyd Blankfein, CEO of Goldman Sachs, has told people inside Goldman that he will in all likelihood support Mitt Romney for president should he win the GOP nomination. Fortunately for Obama, at this point in the nomination process, he is at no danger of winning.

That being said, the GOP nominees seem to be like fish in a barrel, each one being shot in several important organs by weeks of bad press. Survival seems geared less to political prowess than by donning protective ideological armer.

Blankfein had been one of Obama’s supporters after Hillary Clinton’s unsuccessful bid to be the Democratic candidate in 2008, unlike Goldman’s president Gary Cohn, who had been an early supporter of Obama. His reasons for unsupporting Obama are unclear. Given the fact that former Goldman CEO Jon Corzine has yet to be indicted for the disappearance of millions of dollars in private accounts in his MF Global Holdings, perhaps may never be indicted, by Obama’s justice department, one would think Blankfein might ardently support Obama in the coming election. However, Blankfein might consider the MF Global collapse yet another “act of God”, the same act which caused his own company to receive TARP money from the previous administration in order to bail it out (from former Goldman CEO Hank Paulson in his position as Bush administration Treasury secretary, I might add). In this case, supporting a Republican might seem the logical choice.

If the pool of GOP contenders gets whittled down to one pathetic little goldfish, say, Rick Santorum, then Obama can securely ride the pretense of supporting the Occupy Wall Street group. It seems if Romney wins, however, that the gloves come off.

Editorial Cartoon

Friday, November 25th, 2011

Jon Corzine, superstar
Is Jon Corzine really Jesus? Is the holy ghost protecting him and keeping him out of jail? Or is it Obama and his merry band of bankers?

GOP Foreign Policy

Friday, November 25th, 2011

The opening topic of last week’s foreign policy debate among the GOP presidential contenders was immigration reform. Checking the actual title of the debate, which said nothing of foreign policy, but rather National Security, one can only conclude that either the characterization of the debate as foreign policy had been misleading, or that the GOP candidates view foreign policy and National Security as one and the same.

The true test of Republican foreign policy, then, must be the state of Alabama, which has recently implemented HB56, a very tough immigration law which requires proof of American citizenship even in minor traffic accidents, checks for citizenship in business transactions and the total ban of illegal immigrants working on farms. The recent and I might add, ironic detention of a German executive of Mercedes Benz for driving without being an American citizen, mortified supporters of the Mercedes Benz plant in Tuscaloosa which employs 3,400 locals.

This follows on the heels of hard times for Alabama farmers who have seen their seasonal workers vanish under pressure from this law.

Ever filled with GOP patriotism and optimism, State Senator Scott Beason believes the new immigration law will put 211,000 unemployed residents back to work.

It seems not only does the issue of immigration reform fulfill the GOP definition of foreign policy, but of economic reform as well.

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