Reverse Racism and the Big Obama Con Job
Did you see the announcement of a week ago that Goldman Sachs is giving a half billion dollars to small businesses. Or are they? Why are they suddenly concerned with small business? They’ve certainly never cared about small business before. In the history of Goldman Sachs, what have they ever given to small business? The answer of course is nothing. Why the sudden interest? Could it be because Goldman Sachs has found out that it pays to play ball with President Obama? Could it be because if you do favors for Obama and his friends, you wind up with big bailouts, giant stimulus funds, government contracts…or perhaps avoid prosecution for any alleged crimes or fraud committed in the sub-prime mortgage scandal?
In any case, Goldman Sachs’ announcement was certainly less than honest in its wording. If you read the headline you’d think that Goldman is a hero to America’s small businesses. But the reality (beneath the headline) is that Goldman Sachs is only concerned with one tiny segment of small business — MINORITY-OWNED SMALL BUSINESSES. More specifically — minority businesses located in minority neighborhoods. Even more specifically, Goldman’s loans to minority businesses located in minority neighborhoods will only be disbursed through “community organizations.” Organizations that I’m willing to bet are run by contributors to Obama’s campaigns. Just a guess on my part. Anyone wanna bet?
Interesting timing. Was Goldman forced to play the “race card” by Obama? Was Goldman intimidated by the threat of possible legal prosecution by the SEC or Obama’s Justice Department? Will a half billion dollar (legal) payoff to FOO (Friends of Obama) make the whole mess go away? Even better, will more government contracts, loans and stimulus now head Goldman’s way? Will a measly half billion-dollar loan now result in billions in government largess thrown towards Goldman Sachs? Is this how deals are cut in D.C?
How did I break this code? How did I figure out what the media hasn’t dared mention that the entire half billion dollars is headed to minority-only businesses. Do you speak in “legal-ese?” That’s the language designed by lawyers to fool taxpayers and ordinary citizens. I’m sure Goldman’s Wall Street lawyers and Obama’s government lawyers collaborated for days until they got the wording so confusing that no one would notice the racism in this deal.
If you don’t speak in “legal-ese,” you probably missed the bleeding heart liberal code words in this announcement by Goldman Sachs. They didn’t bother to announce that the half billion dollars was for minority loans only. They said, “Goldman will spend $200 million on education and training programs, while funneling $300 million to so-called community-development financial institutions, which largely serve historically disadvantaged communities that have had trouble accessing capital.” Then they added in the announcement that the loans would be only for businesses in “underserved areas.”
Notice the code words used by liberals and lawyers (I know, I repeat myself) to cover up reverse racism — “historically disadvantaged communities,” “underserved areas,” “community-development financial institutions.” By the way — what the heck is a “community-development financial institution?” Isn’t a financial institution, just a financial institution? Well obviously not in Obama’s race-charged world. Some institutions are better than others…more deserving than others…more “fair” than others in Obama’s world. As long as they descriminate in favor of his politically-correct friends or approved race.
Obviously Goldman Sachs has chosen to become part of Obama’s world. Perhaps we shouldn’t be too harsh towards Goldman — the intimidation by Obama’s lawyers and prosecutors may have been severe enough to make any CEO tremble and buckle. Obama and Rahm Emanuel play by “Chicago rules.” Refuse to play nice with Obama and face prosecution — along with billions in losses, fines and legal fees. Play nice, the case goes away, and billions in government stimulus funds just happens to find its way to you. If you or I conducted business like that, the government would label us “organized crime,” charge us with extortion, and send us to jail for life. But that’s how you play ball in Washington — when the government makes the threats, it’s all legal, and they get to use taxpayers’ money for the payoff. Amazing.
Back to the liberal code words. “Disadvantaged,” “underserved” and “community-development” are all code words in Obama’s community activist world for “minorities only need apply for government money.” It kind of reminds you of “Whites Only” signs outside playgrounds or water fountains in the 1950’s. Or job openings for “whites only.” Or schools segregated for “whites only.” Or neighborhoods for “whites only.” Or how about this oldie: “Blacks ride in the back of the bus.” Do these descriptions sound ugly? Well they are ugly. They represent one of the most embarrassing and disgraceful eras in American history.They were disgusting, biased and racist then. And they still are today — except the roles have changed.
My mother used to say that “two wrongs don’t make a right.” Well racism that favors minorities and discriminates against whites, is no better than the other way around. And when this bias is perpetrated by government (or a Wall Street firm acting under pressure from government), it’s even more disgraceful. You mean in this terrible recession only minority-owned small businesses deserve Obama’s attention? You mean a business owned by whites doesn’t deserve the same help from government as a business owned by someone of color? I call that idea repugnant and the very definition of racism.
Obama campaigned as a man who would end racism. He made it clear that race should no longer matter. But the opposite is true — under President Obama it matters more than ever. Under President Obama it’s fine to help people based on the color of their skin — as long as he chooses the color. It’s back of the bus time again — only this time it’s millions of small business owners who happened to be born white that get to ride in the back. Obama is telling small business owners who don’t happen to have the right color skin to pound sand.
We are not in a recession. We are in a depression. Only small business can lead us out of this mess. Jobs come from small business, not Obama’s friends in big government, big unions, or big business. That’s a economic fact. Yet Obama’s policies do nothing but punish small business with higher taxes, bigger penalties, more onerous rules and regulations. Small businesses continue to go out of business at a record pace. The expiration of the Bush income tax cuts will result in the biggest tax increase in history on small business. Add on universal healthcare taxes, cap and trade taxes, medicare tax increases for the wealthy, health surcharges for the wealthy, a raise in the FICA cap, a VAT tax, a raise in capital gains taxes, and the latest proposed tax — an Afghanistan war tax on the wealthy. It all adds up to Socialism…and a CATASTROPHE for small business owners.
Yet Obama’s only bone thrown to small business is encouraging (i.e. intimidating) Goldman Sachs to give away $500 million to small businesses owned only by minorities, serving only minority neighborhoods, and with money doled out only by Obama’s friends (and campaign contributors) at community activist organizations like ACORN. According to Obama, the rest of us just don’t count. Get used to the new reality of America under Obama — where everything is based on race and the redistribution of income from one out-of-favor group (business owners) to a favored group (those who voted and contributed to Obama). In my book that’s called racism. For President Obama, two wrongs obviously do make a right.
Regards,
Wayne Allyn Root
December 1, 2009
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Clearly there are “neighborhoods” that are under served by financial institutions. Most of those neighborhoods are inhabited by minorities. If you want to call efforts to reach those neighborhoods reverse racism, that is your myopic problem. Clearly there are problems with small businesses accessing capital. Any effort to alleviate this is beneficial to society as a whole. Find a more valid way to play the race card.
The real issue you identified is whether or not Goldman receives preferential treatment, as a result of this program. If they do, it will only continue decades of being a favored and protected institution. If Obama is half as shrewd a political operator as you make him out to be, he will cut bait with Goldman and flay them on the altar of greater good. Clearly they would make a great scapegoat, if you are looking for an institution to vilify.
3 hearty cheers to Mr. Root’s post!!! Although this is nothing new, and has been going on for quite some time. Its great to hear it spoken (well, written) in a clear decisive manner. I am from Illinois, knew if Obama was elected, where we were headed and, now, am reminded of Michelle Obama’s famous quote, “Its been a long time since I have been proud of my country”, (close enough). Hey, Michelle, never thought you and I would agree on anything, but with the direction this country is headed, I am starting to emphathize with your words. WAIT!!! NO!!! Mr Root is right again…2 wrongs don’t make a right! I AM still proud of my country…BUT I am deeply ashamed of the elected officials sanctioning these corrupt destructive bills, bailouts, and baloney. If we fail to remove this very corrupt Congress in 2010, we will have no one to blame but ourselves. It is our only chance to turn the tide and curb the spending, swindleing, and shams, that is now our President and his agenda, with his “gangsta “enforcement group. And, here’s a shout out to all that transparencey, Mr. Obama!!! You are, now, the “Lunatic Fringe” and that will be your legacy.
Keep up the good work, Mr. Root. Let’s awaken this country and reclaim it.
Can you say “Welfare”.
The only upside to this is that hopefully Goldman will be able to distribute it with less that a 30% administrative cost that.
Obama’s Administrative Philosophy: “You can fool some of the people all the time, all the people some of the time, ..and that’s enough.”
Our president went to a black racist church and was married there for a total of twenty years. He was a race baiting lawyer in the Windy City. Do not be suprised when a snake acts like a snake.
Dear Cushdr: It is not the function of financial instutions to “serve,” period, far less to “serve” any particular geographical area. The purpose of financial institutions is to make money in straight-forward ways such as providing checking accounts for fees (someone has to pay for the clerks who do the paperwork), and lending money to qualified borrowers in return for interest, setting the rates for both services sufficiently high to make profits for the owners and/or shareholders. This simple but perfectly adequate description of the banking business is the key to understanding the housing bubble: banks were forced to give money to those who were not able to pay it back. All involved knew it. Acquiescing was necessary to stay in business, so banks caved to the stress of the moment, and are collapsing now. Every time private enterprise is coerced and corrupted by government forces you may be certain that investors will lose money and the economy as a whole will suffer. The reason no bank run on sensible principles will lend money to “small businesses” in ghetto areas is that the businesses invariably fail. This does not mean that entrepreneurs cannot come from the slums; it means that they do not try to start businesses there. At least, other than running numbers, selling drugs, pimping, mediicare scams, and buying food stamps at half the face value. We do not need “improved” slums with small businesses and more home mortgages; we need to repudiate the policies which lead to welfare plantations in the first place. Family income is not the sole determining factor of success, or even among the top five. Character, culture, standards of behavior, ethics, and good role models produce results consistently. “Banking services” are not a natural resource like a rock or a tree. “Need” as you would describe that term does not produce them. Legitimate loans are granted by clear-headed, far-sighted, experienced bankers based entirely on sound proposals containing facts which can be verified. The $500,000,000 Goldman Sachs will give to ACORN, etc., will produce no lasting business or jobs, although it will certainly return a big profit to GS. This is a run of the mill, cynical, back room political deal, nothing more. GS will profit, left-wing groups will solidify even more power, and no mom and pop grocery stores will result.
Maybe the GS $$$$$ will be used to tune up the liberal and black churches (which are not the same). Then, they’ll be ready for the serious Faith Based Federal Do-Re-Mi–like Geo. B. doles out to his evangelical and fundamentalist supporters.
Mr Root’s designation of Obama’s rascism as being reverse, falls into the notion that when and only when a white man commits rascist acts, is that rascism. Such weak minded PC tripe is responsible for the allowance of governmental rascist activities such as affirmative action. This shooter is far from being willing to swallow ignorant labeling even after several belts.
ah yes, more right wing tripe…as bad as Obama seems to be, the clowns that occupied the white house for the previous eight years were worse.
Sir-
if there’s coercion here you have every right to be annoyed. However, you offer no evidence of coercion, merely speculation and innuendo. In the absence of governmental coercion, Goldman’s money is Goldman’s money and the firm has the right to spend it however it chooses, including giving it to minority owned businesses or flushing it down the toilet if that makes them happy.
Personally, i’d rather they gave the money to the poor sap taxpayers who covered Goldman’s potential AIG losses, but that’s just me. If this half a billion is the firm’s money, they can spend it however they wish. Isn’t that basic Libertarian doctrine?
jm
I’m no Obama fan and I think America needs a good Libertarian kick in the ass. But unfortunately, this article proves that Wayne is not the man for the job. As others have pointed out, there is only one fact in this entire piece — Goldman Sachs announced it would be aiding minority business. Everything else is conjecture presented as truth and nothing more. I’m not saying Wayne is wrong — he may be right. But even the slimiest of politicians know that wild accusations need a kernel of truth.
Goldman and the Feds are joined at the hip.
Obama flay Goldman on the altar of the greater good? Obama is a bought-and-paid-for nobody with a politically correct albedo — a plutocrat puppet who can’t relieve himself without Goldman approval.
If there’s any flaying to be done, it will be a theatrical performance on Goldman’s terms; whereby they will cough up a token portion of their Treasonous Larceny takings back into government coffers; whereby the principal actors in this gang-rape of the middle class will remain effectively whole (financially) and breathing free air.
Given the decades-long* abrogation of the Constitution by all branches of our government, it should now be abundantly clear that grievances against the usurpations of the plutocracy cannot be redressed via the ballot box or the courts or appeals to the bureaucracy. Thanks to the prescience of our Founding Fathers, however, other options remain.
* – The trend is much longer than that. The Federalists were clawing for control (and triggered Shays’ Rebellion) before the Constitution was even put to parchment.
Wow Mr Root, I would love to see you discuss your article on Morning Joe with Joe Scarborough or any other talk show. You really should get that hidden legal wording hypocracy out into the open and discussed in the “mainstream” media. The probable further funding of the Acorn group is especially galling,