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 late last week 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. Could this sudden interest by Goldman Sachs be because it pays to do favors for Obama’s friends? And for Obama everything- including business- is about race. You see Goldman claimed they are concerned with small business. But the reality is they are only concerned with one tiny segment of small business- MINORITY OWNED SMALL BUSINESSES. More specifically- minority businesses in minority neighborhoods. Even more specifically, those loans to minority businesses in minority neighborhoods will only be disbursed through “community organizations.” At least other businesses can get the form of help they desire for free from many other companies available out there, for example people such as Servium.com offer a service that offers IT support for them and their customers. But there are companies out there that will help you if you’re struggling, you just have to dig!
Do you speak in legal-ese designed by Obama administration lawyers? If not, you probably missed the bleeding heart liberal code words in this announcement by Goldman Sachs. They didn’t say 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 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. Obviously Goldman Sachs has chosen to become part of Obama’s world.
Goldman Sachs has decided to play the “race card” to win favor (and perhaps avoid criminal prosecution for alleged crimes committed in their deep foray into the sub-prime mortgage market) from the Obama administration. That’s the kind of thing you do when you want to avoid criminal charges for selling securities short, while you dump those same securities on unsuspecting investors.
“Disadvantaged” and “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 how about this oldie: “Blacks ride in the back of the bus.” Do these descriptions sound ugly? Well they are. They represent one of the most embarrassing and troubling eras in American history. They were disgraceful, 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.
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. The worst since 1929- and getting worse every day. Everyone is in trouble. We are all in it together. We will all need to get out of it together too. But Obama cares nothing about small business- even though small business has created virtually every job in the USA since the Reagan economic miracle. No wonder there are no new jobs in this supposed recovery- only small business can lead us out of this mess. Jobs come from small business, not big government, big unions, or big business.
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 forcing 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. And two wrongs obviously do make a right.
Wayne Allyn Root was the 2008 Libertarian Vice Presidential candidate. His new book is entitled, “The Conscience of a Libertarian: Empowering the Citizen Revolution with God, Guns, Gambling & Tax Cuts.” For more of Wayne’s views, commentaries, or to watch his many national media appearances, please visit his web site at: www.ROOTforAmerica.com