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Tuesday, April 07, 2009

Democrat Hypocrisy Starting To Be Reported

I told you about this on Sunday.

Hey folks,

Just this past Sunday, I told you about this. The only real comment I had was that if you want to get rich, maybe you should work for the Democrats. This was a Reuters piece talking about the hypocrisy of the Liberals in power that are running around and saying that CEO's are making to much money, and that Obama and Crew need to take over these companies to ensure "fairness," yet they themselves are making MILLIONS.

Yes folks, they are running around stirring up class envy. Telling you that they are FOR YOU. That Obama and Crew need unprecedented, and unconstitutional power to take over Private business to dictate what these companies do with "YOUR Money." People are actually standing and applauding this. Yet?

Lawrence Summers, a top economic adviser to U.S. President Barack Obama, was paid about $5.2 million by hedge fund D.E. Shaw in the past year, financial disclosure forms released by the White House showed on Friday. Plus $2.7 million in speaking fees by firms including J.P. Morgan, Citigroup, Goldman Sachs and Lehman Brothers. You know, he was paid by tax payer money. Reuters also pointed out others.

National Security Adviser James Jones reported collecting more than $1 million for serving as a director for Boeing, Chevron and other companies. He had a salary and bonuses of $900,000 from the U.S. Chamber of Commerce.

Obama senior adviser David Axelrod reported $896,776 in salary from his consulting firm AKP&D Message and Media as well as $500,000 in partnership income. He had another $151,914 in partnership income from his other campaign management firm, ASK Public Strategies.

Axelrod reported he had entered an agreement to sell the firms for $3 million over five years.

Valerie Jarrett, another senior Obama adviser, reported $346,687 in directors' fees, including from the consulting firm Navigant, a real estate investment trust and the Chicago Stock Exchange.

Jarrett had $302,000 in salary from a company that develops and manages apartment buildings, plus $550,000 in deferred salary from the same firm, her disclosure form showed.

Well now the Wall Street Journal is getting in on the act. They are letting you know that there are even MORE. According to the WSJ - Hedge Fund Paid Summers $5.2 Million in Past Year

WASHINGTON -- Top White House economic adviser Lawrence Summers received about $5.2 million over the past year in compensation from hedge fund D.E. Shaw, and also received hundreds of thousands of dollars in speaking fees from major financial institutions.

A financial disclosure form released by the White House Friday afternoon shows that Mr. Summers made frequent appearances before Wall Street firms including J.P. Morgan, Citigroup, Goldman Sachs and Lehman Brothers. He also received significant income from Harvard University and from investments, the form shows.

In total, Mr. Summers made a total of about 40 speaking appearances to financial sector firms and other places, with fees totaling about $2.77 million. Fees ranged from $10,000 for a Yale University speech to $135,000 for an appearance paid for by Goldman Sachs & Co.

The disclosure -- in a financial report that is required for federal office holders -- comes as Mr. Summers is involved in shaping the Obama administration's policy decisions on the financial meltdown as well as the broader recession. Among the many decisions the economic team has wrestled with has been whether to step up regulation of hedge funds, one of the most contentious subjects during a summit of world leaders this week. European nations pushed for tougher rules, while the Obama administration preferred a less stringent approach.

How does the White House respond to this? This is really pathetic.

Asked to comment, White House spokesman Ben LaBolt said that, "from the first days of the administration, we have bolstered accountability over banks" and made other rules changes so that "the influence of lobbyists is curbed, executive compensation is reined in, and firms are required to show how they will preserve or expand lending using government funds." He added: "Dr. Summers has been at the forefront of this administration's work to shore up our nation's financial system and to put in place a regulatory framework that will strengthen the financial system and its oversight -- all in an effort to help the families across America who have paid a very steep price for risky decisions made by Wall Street executives."

{Laughing} So it's OK because he is doing this FOR YOU. Then this?

In at least one instance, Mr. Summers shed fees paid to him from a Wall Street firm that received federal funds. His form shows that he received a $45,000 speaking fee from Merrill Lynch on Nov. 12 -- about a week after Barack Obama won the election -- and that he donated the sum to charity.

The White House official said that when Mr. Summers "became aware that Merrill Lynch would be accepting taxpayer funds through its merger with Bank of America, he attempted to cancel his appearance." The official added that "when he was unable, he elected to donate those funds to charity."

Proof of this? I doubt it. What about the rest?

David Axelrod, the president's top political advisor, reported in his form that he will get $3 million over the next five years from the sale of his two media consulting firms, ASK Public Strategies, LLC and AKP&D Message and Media. In addition, Mr. Axelrod took a salary of $896,776 last year from AKP&D and reported $651,914 in partnership income from the two companies.

In total, Mr. Axelrod reported assets valued between $6.9 million and $9.5 million. Mr. Axelrod's clients were mostly political campaigns, including those of Rep. Patrick Kennedy, New York Attorney General Andrew Cuomo, and Chicago Mayor Richard M. Daley. He also reported receiving money from large corporations such as AT&T Inc., Comcast Corp. and the nuclear energy company Exelon Corp.

National Security Adviser James Jones reported $900,000 in salary and bonus from the U.S. Chamber of Commerce as well as director fees from a number of corporations. He received, for example, $330,000 from Boeing Corp. and $290,000 from Chevron Corp.

Gregory Craig, White House Counsel, reported receiving a salary of $1.7 million last year from Williams & Connolly, the high-powered Washington law firm where he had been a partner since 1999.

White House Social Secretary Desiree Rogers collected a $350,000 salary from Allstate Financial as president of the social networking division, as well as $150,000 in board fees from Equity Residential, a real estate investment trust in which she also holds at least $250,000 in stock. She also collected $20,000 in board fees from Blue Cross Blue Shield. Other assets reported in her checking account, stock investments, and mutual funds total at least $2 million.

Valerie Jarrett, assistant to the president for intergovernmental affairs, lists a $300,000 salary and $550,000 in deferred compensation from The Habitat Executive Services, Inc., in Chicago.

Ms. Jarrett also disclosed payments of more than $346,000 for service on boards of directors that reflect her political ties, and work in Chicago real estate and community development.

She was paid $76,000 last year for service as a director of Navigant Consulting, Inc. a Chicago-based global consulting group with governmental clients. She received $146,600 for service on the board of USG Corporation, a building materials manufacturer, and $58,000 to serve on the board of Rreef American REIT II, a real estate investment trust based in San Francisco. The Chicago Stock Exchange, Inc., paid her $34,444 to serve on its board.

Deputy National Security Advisor Tom Donilon earned $3.9 million as a partner at the law firm of O'Melveny & Myers LLP, where his clients include Citigroup, Inc., Goldman, Sachs & Co., and Obama fundraiser and heiress Penny Pritzker.

Carol Browner, assistant to the president for energy and climate change, disclosed earnings of between $1 million and $5 million from lobbying firm Downey McGrath Group, Inc., where her husband, Thomas Downey, is a principal. She states $450,000 in "member distribution" income, plus retirement and other benefits from The Albright Group, a lobbying firm whose principals include former Secretary of State Madeline Albright.

SO? Is none of this unreasonable or excessive? Where is the outrage on these? Are they going to give the money back? A lot of which is Tax Payer's Money? It truly is amazing how arrogant the Obama and Crew really are. The Liberals in Government have NO PROBLEM telling YOU what YOU have to do, how you should feel, and what you should believe. They have no problem violating the Constitution and telling others what they can and can't make, while they themselves are getting rich off of YOU,

Doesn't any of this get through to the Sheeple out there? Can no one see this? Where is the outrage? Oh, notice no outrage and no reporting on the Fannie and Freddie Bonuses? Told you so.
Peter

Sources:
OPNtalk- Get Rich Quick, Work For Democrats
Reuters-
Hedge fund paid Obama adviser Summers $5.2 million
WSJ -
Hedge Fund Paid Summers $5.2 Million in Past Year

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