Tuesday, August 31, 2010

Obama's SEC & Union Pay-Offs

The Security and Exchange Commission managed by Chairwoman, Mary Schapiro, appointed by Socialist President Obama, is fast becoming an arm of big unions in America rather than a protector of shareholder rights. Ms. Schapiro has handed senior roles at the SEC to former union pension fund officials. And, based on a 3-2 party line vote, Ms. Shapiro has given big union pension funds a power they never had before - the ability to force their preferred candidates for board directors on the proxy ballots that publicly traded companies must send to shareholders. The obvious goal is to get more union members serving on corporate boards to exert more control over management decisions including compensation and benefits provided to union members. What they can't win through collective bargaining, the unions want to win at the Board table.

As the Wall Street Journal pointed out in their August 30th editorial, this move is right out of Saul Alinsky's playbook "Rules for Radicals". Alinsky was a Communist and one of Obama heroes, often cited by the President when he was a college professor, related to "transforming" America and the redistribution of income. By now, there should be no doubt that Obama is a radical Socialist and he may even be a Communist to be determined. Clearly, members of his Administration like Schapiro in charge of the SEC are also Socialists. Schapiro sees her constituencies as Congress and unions rather than shareholders. So in Schapiro's Socialist world, her role is not to protect shareholder rights; but instead to do the bidding of Congress and unions. There is something very wrong with this picture.

However, this should be no surprise. When Obama nationalized General Motors, he stole assets that legitimately belonged to bondholders and creditors and gave those assets to the auto workers union for nothing. Let's face it, President Obama and the Socialists that control Congress are owned lock, stock and barrel by the unions in the United States and so they are constantly obligated to provide union pay-offs. And, Public employee unions are bankrupting our states and country with the help of their Socialist benefactors.

The AFL-CIO and the SEIU just committed $88 million to Socialist campaigns in this election cycle. Other union will give even more. Whose bread you eat whose song you sing and Obama is singing like a canary at every turn in support of union pay offs. At the same time, Obama wants to prevent corporations from making political donations even though the Supreme Court recently ruled that doing so was unconstitutional and a violation of First Amendment rights. Obama supports union involvement in politics; but not business involvement. I wonder why?

Manufacturing in America is dead because of Unions, environmental wackos, frivolous lawsuits and crazy Socialist Schemes, like HealthScare, that have raised the cost of doing business in the US. If union members win election to corporate boards to impact management decisions to their advantage, it will only make matters worse and push more jobs overseas. And, if it gets really bad, more American companies will simply leave the United States to avoid all of our crazy regulations and/or companies will go private to avoid these same regulations. Once again, Socialists do not understand the law of unintended consequences when they enact all of their job killer laws. In a global economy, companies like people can vote with their feet. There is always a final straw that causes a move. This new SEC ruling, in addition to Sarbanes Oaxley and other crazy Socialist Schemes, may just be it for many companies. Enough is enough!

We must sweep these Socialist job killers out of office in 2010 and 2012 by electing Conservatives who support free market capitalism, limited government, lower taxes and less regulation, a balanced budget, term limits, real energy independence and health care reform, a strong national defense, including securing our border and fighting Terrorism, the right to bear arms, the sanctity of life and family values. This is the winning platform supported by the majority of the American people and the only way to restore economic growth and job creation in our country.

Most important, we must take back our country in 2010 and 2012 by electing Conservatives who support the Constitution, as written by our Founding Fathers, not as contrived by the left wing media, Socialists Obama, Reid, Pelosi, former Presidents, Congresses, or the Courts. We must sweep these job killer out of office in 2010 and 2012. We can do it. We must do it preserve our freedoms, our nation and way of life and for the sake of our children and grandchildren.

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