Gangster Government-The Strong Man Using Strong Arm

Gangster government on the prowl?

Michelle Malkin writes of the abusive treatment the hedge fund industry is receiving at the strong arm tactics of  Barack Obama. “He keeps taking their money. They keep getting publicly tongue-lashed.”

This week, AQR Capital Management LLC hedge fund manager Cliff Asness — at considerable risk to himself and his business — issued a striking manifesto responding to the president’s self-serving demagoguery and flagrant disregard for the rule of law. You can find Cliff’s essay and his other invaluable work at Stumbling on Truth.

Asness writes in this manifesto:

Let’s be clear, it is the job and obligation of all investment managers, including hedge fund managers, to get their clients the most return they can.  They are allowed to be charitable with their own money, and many are spectacularly so, but if they give away their clients’ money to share in the “sacrifice”, they are stealing.  Clients of hedge funds include, among others, pension funds of all kinds of workers, unionized and not.  The managers have a fiduciary obligation to look after their clients’ money as best they can, not to support the President, nor to oppose him, nor otherwise advance their personal political views.  That’s how the system works.  If you hired an investment professional and he could preserve more of your money in a financial disaster, but instead he decided to spend it on the UAW so you could “share in the sacrifice”, you would not be happy.

….. This is America.  We have a free enterprise system that has worked spectacularly for us for two hundred plus years.  When it fails it fixes itself.  Most importantly, it is not an owned lackey of the oval office to be scolded for disobedience by the President.

I am ready for my “personalized” tax rate now.

Michelle further writes:

Asness minced no words: “The President’s attempted diktat takes money from bondholders and gives it to a labor union that delivers money and votes for him…Shaking down lenders for the benefit of political donors is recycled corruption and abuse of power.”

Business as usual in the Era of Hope and Change. Perhaps demonized entrepreneurs will finally learn that when the dog you feed bites your hand, you don’t roll up your sleeve and give him your arm. You get a new dog.

Is the power grab over?  I hardly think so, nor does Examiner Editorial (Washington Examiner.) writing of another in your pocket action of the President giving UAW something they never earned nor could earn for themselves, effectively ownership of Chrysler:

True, the union doesn’t get an explicit controlling majority of the board of directors, but who needs that when you’ve got the White House guaranteeing your work and the U.S. Treasury Department making sure you never have to worry about the bottom line. UAW President Ron Gettelfinger’s place in Big Labor’s Hall of Fame is now secure. He found a sugar daddy with an endless supply of cash. So UAW members and retirees can keep right on drawing those pay and benefits so excessively generous they made it impossible for the old Chrysler to compete with Toyota and Honda.

Hans Bader of OpenMarket.org writes:

Obama effectively gave ownership of Chrysler to the United Auto Workers Union (which spent millions electing Obama), rather than taxpayers (who have spent billions to bail out Chrysler) or the institutions that lent money to Chrysler based on the legal right and expectation that they would receive its assets before the UAW union would. Veteran political commentator Michael Barone also calls it “gangster government.” The UAW will also retain “lucrative” pension and health benefits, courtesy of the taxpayer.

Bully-pulpiteer – President Obama Again

Now we can see the influence of bully-pulpiteer extraordinaire, Rev. Wright, come to full bloom in his protege. Those twenty years weren’t wasted on President Obama. While allegedly abusing power with Mafia finesse, President Obama denies the coercion.  President Obama is charged with forcing compliance and threatening his (our) country men with the full weight of the White House Press Core if they do not kow tow.

Michelle Malkin reports

Over the weekend, news broke about the Obama administration’s reported threatsunion-friendly Chrysler bankruptcy plan. against an investment firm that opposed its

Tom Lauria represents a few of the non-TARP Chrysler creditors. He reported the threats on WJR radio host Frank Beckmann’s radio show in Detroit:

This isn’t the shiny new transparent politics we were promised by campaigning Obama.  If it is true, it’s the go-for-the-jugular politics of the Chicago machine; down and dirty as it can be.  But Malkin is right: “The only surprise is that anyone is surprised. The coercion cow has been out of the barn for a while now.”

Eyes and ears anyone? Abrogating contractual right appears to be coming easy to Obama.

Abortion Package – the Price of Death

The moves and monies against Life have come fast and furiously, since President Obama took office and turned his attention to the most defenseless of this Nation.  Calling it “health” millions will die with the help of American dollars. With Planned Parenthood at the top of the list, ” Abortion groups have submitted their 50 page proposal to the Obama-Biden Administration.”

From Susan B. Anthony List:

The Abortion Bailout Package:

  • $1 BILLION dollars in taxpayer funding for International Abortion Groups
  • $700 million in taxpayer funding for “Title X” Health Clinics (aka your local Planned Parenthood affiliate)
  • $65 million for the UNFPA, an international aid organization connected to coercive abortion as part of China’s coercive one-child policy
  • Repeal the Hyde Amendment – Vastly expanding federal taxpayer funding for abortions
  • Include Abortion coverage in any taxpayer-subsidized national health care program
  • Expand taxpayer-funded abortions on military bases
  • Expand taxpayer-funded abortions through the Peace Corps program
  • Expand taxpayer-funded abortions for federal prisoners

For action alerts check here as well.

Making Biased Media Irrelevant? – A Dream Coming True

There is good news here and hope. (Not Obama’s kind but real hope.)  Since Daniel Hannan made his speech to European Parliament, aimed at Gordon Brown , tens of thousands world wide respond. Newspapers passe?

“When I woke up this morning, my phone was clogged with texts, my email inbox with messages. Overnight, the YouTube clip of my remarks had attracted over 36,000 hits. By today, it was the most watched video in Britain.

How did it happen, in the absence of any media coverage? The answer is that political reporters no longer get to decide what’s news.”

Standing Up to the Rulers

The Anchoress reaches across the cyber-pond to find this gem. This voice of the people is Daniel Hannan undressing Parliament.  The Anchoress thanks Gerald Werner as do I.  Werner says:

“For anyone who has ever dreamed of being able to tell our rulers, to their faces, precisely what we think of them, Daniel Hannan’s recently posted video of himself doing exactly that to Gordon Brown in the European Parliament is compulsive viewing.”

Expansion of Human Embryo Experimentation.

Thoughts of the Great Unwashed point  here for a read on the label given Obama as the “abortion president”:

One of the most outspoken abortion opponents in Congress labeled President Obama the “abortion president” on Friday in response to news that Obama intended to sign an executive order Monday lifting restrictions on federal funding for embryonic stem cell research.

Rep. Chris Smith, R-N.J., accused Obama of launching two attacks on pro-life measures. In addition to lifting President Bush’s stem cell restrictions, Obama intends to lift regulations from the Bush administration that allow health care providers and institutions to refuse to participate in abortions on grounds of conscience.

“Why does the president persist in the dehumanizing of nascent human life when better alternatives exist? Human embryo-destroying stem cell research is not only unethical, unworkable and unreliable- it is now, demonstrably unnecessary,” Smith said.Smith labeled Obama’s stem cell policy an expansion of “human embryo experimentation.”