As the mid-term elections draw near, Presidents Obama and Clinton have been campaigning against Republicans with this central theme: if Democrats don’t run the country, corporations will.
What the Presidents fail to tell us is that Democrats themselves are the inventors and implementers of this very radical idea.
As the Democrats—led by the current and a former president—attempt to rouse the nation’s fears in propounding this “corporate takeover” theme, the hypocrisy of their policies over the past two years can’t be overlooked.
Indeed, it is the federal government takeover and control of private industry that has the automobile companies, GM and Chrysler, adding billions of dollars to the federal deficit, all because Uncle Sam, operating through formerly private businesses, is a very poor businessman.
Most unfortunately, GM and Chrysler, at the direction of President Obama’s Automobile Task Force, issued pink slips and closure notices to employees and car dealerships and created the potential for the destruction of 150,000 jobs by shuttering approximately 3,400 privately owned car dealerships across the nation.
Within a nanosecond of Uncle Sam creating the Automobile Task Force for the ostensible purpose of saving GM and Chrysler, the vaunted car companies declared bankruptcy. At about the same time, Uncle Sam fired the CEO hired by the GM board of directors, and installed a new governmentally-selected CEO. Remember, GM was a private company.
Whether Presidents Obama and Clinton want to believe it or not, private corporations, operated by the government, are driving government policies already. With a guaranteed bailout waiting in the wings, any large governmentally owned or controlled corporation today knows that risk doesn't matter and they can promise the world to their employees, unions and shareholders.
Uncle Sam also purchased dominant equity interests in Bank of America, Citi, AIG, Fannie and Freddie, and the student loan industry. In the case of Fannie and Freddie and the student loan industry, the federal government effectively put any private competitors out of business. This renders Uncle Sam to drive political rather than business decisions at the feast of evermore tax dollars to maintain corporate viability.
And now government bureaucrats are about to implement healthcare policies under Obamacare that will effectively collapse the private health insurance market down to a government-controlled monopoly of several privately-owned, but governmentally-controlled, insurance companies.
Both Presidents Obama and Clinton have themselves been benefactors of significant corporate aid. It was candidate Barack Obama, back in 2008, who reversed his position on public funding of political campaigns, opting instead to raise private funds from corporate America. His Wall Street contributions surpassed even George W. Bush’s contributions from 2004.
Candidate Barack Obama received almost one million dollars in donations from individuals and PAC’s tied to Goldman Sachs, more then any other candidate. Also, candidate Obama received three times the amount of money than any other candidate from individuals and PAC’s tied to BP. This hypocrisy is beyond pale.
In a similar tone last week, while rallying in Minnesota, President Clinton warned that the “extreme right” is attempting to break apart the government and crown large corporations with control. But President Clinton, much like President Obama, is no slouch when it comes to raising money from Wall Street. While showering the American people with staunch anti-corporate rhetoric, President Clinton continues to cozy up to Wall Street bankers and hedge fund managers in an effort to raise money for the Democrat Party and Democrat Candidates.
Presidents Clinton and Obama, as they point their accusatory fingers at conservatives, need to remember that they are responsible for the new policy government operating corporations, which in turn run the country today.