Wednesday, January 25, 2017
Blue Presidential Foundations Taking Different Arcs
The tarnished Clinton brand can be seen by the shuttering of the Clinton Global Initiative, a popular annual gathering of global tamperers. The Clinton Foundation remains a going concern but it will lose its most visible face.
The rising Obama Foundation intends to build a monument to President Obama's practical years of catering to the insider class, the type of people who make up the majority of his foundation board. Six members come from the financial world, most are private equity underwriters (PEU).
Naked Capitalism reported on Obama's final gift to the PEU boys, having Fannie Mae and Freddie Mac back private mortgage loan pools. The very programs intended to help struggling home buyers will backstop billionaire landlords raising rents on the people Fannie and Freddie were supposed to help. That's been the role of government the last two decades, to protect and serve rapscallion financiers. Both the Reds and Blues played the game hard.
The Clintons' backing down should help the Obama's generate serious donations and possibly a new job for the ex-President. Will the grateful offer him direct employment or millions in speaking fees like Bill and Hillary?
Posted by PEU Report/State of the Division at 10:51 PM