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April 9, 2014

Jonathan Tobin: Why Did Kerry Lie About Israeli Blame?

Samuel G. Freedman: A resolution 70 years later for a father's unsettling legacy of ashes from Dachau

Jessica Ivins: A resolution 70 years later for a father's unsettling legacy of ashes from Dachau

Kim Giles: Asking for help is not weakness

Kathy Kristof and Barbara Hoch Marcus: 7 Great Growth Israeli Stocks

Matthew Mientka: How Beans, Peas, And Chickpeas Cleanse Bad Cholesterol and Lowers Risk of Heart Disease

Sabrina Bachai: 5 At-Home Treatments For Headaches

The Kosher Gourmet by Daniel Neman Have yourself a matzo ball: The secrets bubby never told you and recipes she could have never imagined

April 8, 2014

Lori Nawyn: At Your Wit's End and Back: Finding Peace

Susan B. Garland and Rachel L. Sheedy: Strategies Married Couples Can Use to Boost Benefits

David Muhlbaum: Smart Tax Deductions Non-Itemizers Can Claim

Jill Weisenberger, M.S., R.D.N., C.D.E : Before You Lose Your Mental Edge

Dana Dovey: Coffee Drinkers Rejoice! Your Cup Of Joe Can Prevent Death From Liver Disease

Chris Weller: Electric 'Thinking Cap' Puts Your Brain Power Into High Gear

The Kosher Gourmet by Marlene Parrish A gift of hazelnuts keeps giving --- for a variety of nutty recipes: Entree, side, soup, dessert

April 4, 2014

Rabbi David Gutterman: The Word for Nothing Means Everything

Charles Krauthammer: Kerry's folly, Chapter 3

Amy Peterson: A life of love: How to build lasting relationships with your children

John Ericson: Older Women: Save Your Heart, Prevent Stroke Don't Drink Diet

John Ericson: Why 50 million Americans will still have spring allergies after taking meds

Cameron Huddleston: Best and Worst Buys of April 2014

Stacy Rapacon: Great Mutual Funds for Young Investors

Sarah Boesveld: Teacher keeps promise to mail thousands of former students letters written by their past selves

The Kosher Gourmet by Sharon Thompson Anyone can make a salad, you say. But can they make a great salad? (SECRETS, TESTED TECHNIQUES + 4 RECIPES, INCLUDING DRESSINGS)

April 2, 2014

Paul Greenberg: Death and joy in the spring

Dan Barry: Should South Carolina Jews be forced to maintain this chimney built by Germans serving the Nazis?

Mayra Bitsko: Save me! An alien took over my child's personality

Frank Clayton: Get happy: 20 scientifically proven happiness activities

Susan Scutti: It's Genetic! Obesity and the 'Carb Breakdown' Gene

Lecia Bushak: Why Hand Sanitizer May Actually Harm Your Health

Stacy Rapacon: Great Funds You Can Own for $500 or Less

Cameron Huddleston: 7 Ways to Save on Home Decor

The Kosher Gourmet by Steve Petusevsky Exploring ingredients as edible-stuffed containers (TWO RECIPES + TIPS & TECHINQUES)

Jewish World Review Dec. 21, 2009 / 3 Teves 5770

Obama helps the fat cats

By Jack Kelly

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http://www.JewishWorldReview.com | DANA Milbank of the Washington Post is the latest to notice President Obama often has done the opposite of what he promised to do when he was seeking the job.


"On the campaign trail, Barack Obama vowed to take on the drug industry by allowing Americans to import cheaper prescription medicine," Mr. Milbank recalled Wednesday. " 'We'll tell the pharmaceutical companies thanks but no thanks for the overpriced drugs,' he said back then."


The Senate voted Tuesday on an amendment to the health-care bill that would have permitted the reimportation of drugs.


"Siding with the pharmaceutical lobby, the administration successfully fought against the very idea Obama had championed," Mr. Milbank said.


If the flip-flop on drug importation was the most recent example of hypocrisy, the kabuki in the White House the day before was the most blatant.


On CBS' 60 Minutes Sunday, the President excoriated Wall Street bankers who had received bailouts for not lending more money.


"I didn't run for office to help out a bunch of fat-cat bankers on Wall Street," Mr. Obama said. He called bankers to the White House for a meeting Monday, presumably to chew them out in person.


But that isn't what happened.


"I expected to be taken to the woodshed, but the tone was quite the opposite," one CEO told Charles Gasparino of CNBC.


"The whole thing was so telegraphed that not much was accomplished, other than giving Obama a PR stunt," said another.

Letter from JWR publisher


Actions speak louder than words. On Tuesday, the administration "quietly agreed to forgo billions of dollars in potential tax payments from Citigroup as part of the deal announced this week to wean the company from the massive taxpayer bailout that helped it survive the financial crisis," the Post reported Wednesday.


Thanks to the Troubled Asset Relief Program, big banks made substantial profits in the year since the meltdown. Banks did this not by loaning money to private businesses, but by investing what were interest-free loans mostly in government bonds.


The banks are "taking free money, an offer from the government taxpayers and lending it back to the government (taxpayers) at a phenomenal markup of 3 full percentage points," said Henry Blodget of the Business Insider. "And they're taking almost no risk, to boot!"


With the repayment of TARP funds, the administration lost most of its leverage over the "excessive" compensation against which Mr. Obama railed on 60 Minutes.


Since bank lending has declined sharply in the last year, it appears that administration policies are benefiting only "fat-cat bankers on Wall Street."


Mr. Obama switched sides on drug reimportation to get the pharmaceutical industry to support his health-care bill. Mr. Gasparino suspects a similar motive when it comes to the banks.


"Maybe Obama's softened tone was recognition of Wall Street's election help," Mr. Gasparino said. "Firms like Goldman [Sachs] - now getting ready to dish out $20 billion in bonuses after nearly imploding last year - favored Obama over John McCain by a fairly wide margin. Nearly all the major Wall Street CEOs - including [Jamie] Dimon [JP Morgan], [Lloyd] Blankfein [Goldman], and [John] Mack [Morgan Stanley] have told people that they voted for Obama."


"The President has packed his economic team with Wall Street insiders intent on turning the bailout into an all-out giveaway," charged Rolling Stone magazine in an article Dec. 9 by lefty writer Matt Taibbi.


The coziness between the President and Wall Street fat cats reminds us that little is more dangerous to the public interest than crony capitalism. Businesses want subsidies, restrictions on competitors, and provisions like those the insurance companies got in the health-care bill that Americans be required to buy their products.


Crony capitalism couldn't exist if businesses couldn't buy these favors with campaign contributions, or politicians couldn't extort them by threats of punitive laws.


"With Washington leading the way, it makes sense for the big boys to redirect their resources to their lobbying shop and government affairs office," said Rep. Paul Ryan (R., Wis.). "They're far less interested in expanding the economic pie than with making certain that they get their slice."

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JWR contributor Jack Kelly, a former Marine and Green Beret, was a deputy assistant secretary of the Air Force in the Reagan administration.

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© 2009, Jack Kelly

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