Was Goldman Sachs Forced to Make a Half Billion Dollar Payoff to the Minority Community as a (Legal) Bribe to Obama?
Small Business Faces an Economic Armageddon, While Obama Plays “the Race Card.”
By Wayne Allyn Root, Author
The Conscience of a Libertarian: Empowering the Citizen Revolution with God, Guns, Gambling & Tax Cuts
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 Sach's 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 prejudice, bias and racism 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 & 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- a 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 (ie 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.