The warning signs that perhaps Barack Obama was not what he claimed to be were there from the beginning, though many thoughtful Americans were blinded by their hopes, carried away by their animus against the hated Bush. When Obama arrived in Washington in 2005, he immediately set about organizing a conventional corporate machine. Even a cursory glance at the profile of Obama’s campaign contributors could not fail to worry those who were enchanted by his clean-government rhetoric. His top collective donor, classified by employment affiliation, in the 2003-2004 cycle was the University of Chicago—which is no surprise given his background and connections with that institution. Nor should this shock anyone familiar with the tawdry history of earmarks and other legislative pork that have flowed to universities over the years. Obama’s second most generous investor was the law firm Kirkland and Ellis, whose lobbying clients include the Chicago Board of Trade and the Futures Industry Association, a Chicago-based association representing the derivatives industry, whose board is populated by executives at firms such as Goldman Sachs, Citigroup, Morgan Stanley, and JPMorgan Chase. Henry Crown and Company, his third-ranking donor during that election cycle, is an investment firm that owns stakes in the Chicago Bulls, JPMorgan Chase, real estate ventures, as well as biotechnology and defense contracting. Fourth was Sidley Austen LLP, a law firm and lobby shop representing pharmaceutical, biotech, finance, and real estate firms such as MasterCard, General Electric, Monsanto, Caterpillar, Bayer AG, and the American Bankers Association. Another important donor was the Exelon Corporation, a large utility company that owns and operates the largest fleet of nuclear power plants in the country (and the third-largest such nuclear portfolio in the world). Its ten power plants and seventeen reactors represent 20 percent of U.S. nuclear power capacity. From 2004 to 2009, Exelon spent more than $17 million in lobbying efforts, and several Exelon executives are among Obama’s top fund-raisers. Other major contributors were the law firm Sonnenschein, Nath, and Rosenthal; Goldman Sachs; and JPMorgan Chase. Another investor was the law firm Skadden Arps, whose many lobbying clients include prominent financial firms (Citigroup, Fidelity), military contractors (Lockheed Martin), insurance groups, energy companies, and oil companies. Attorneys at Skadden Arps also raised money for the campaign.
full: http://louisproyect.wordpress.com/2010/11/11/from-the-mendacity-of-hope/ _______________________________________________ pen-l mailing list [email protected] https://lists.csuchico.edu/mailman/listinfo/pen-l
