"Obama and his government regard industries as either polluting or exploitative for the financial and professional benefits of their friends, including industries such as coal mining, offshore drilling, cash advance, and for-profit universities," wrote Katelyn Caralle of the Washington Examiner.
Based on extensive research, Schweizer's book states that Obama regulated certain sectors in such a way that regulation reduced the value of some companies, wrote Katelyn Caralle of the Washington Examiner. With these promotions, two family friends can benefit from doing business through their own investment firm.
That's how it works: Obama friends Marty Nesbitt and Harreld Kirkpatrick III founded a private equity investment firm called Vistria when Obama was re-elected in 2012.
There's nothing wrong with that, except as Swiss notes in his book: "There was a strange pattern: Obama and his government attacked government-empowered industries, resulting in much lower valuations for these companies." Nesbitt and Vistria or others close Obama could then purchase those assets for pennies on the dollar. "
As an example, Schweizer cites the case of for-profit universities such as the University of Phoenix, the ITT Technical Institute and DeVry University. In 2013, Obama accused the schools of exploiting students by burdening them with massive debts, ruining their loans and making profits. He ordered the Federal Trade Commission to prosecute her.
In the case of the University of Phoenix, the parent Apollo Education Group was suspended following a Federal Trade Commission investigation in 2015. The following year, three companies, including Vistria, rushed to buy what was left of Apollo at a price that was 90% lower than the price before the investigation.
As Vistria's education investment portfolio expanded, officials from the Obama Department of Education, including Education Minister Arne Duncan, took high-ranking jobs at Vistria.
That's only an example. There are others.
For example, Schweizer noted in his book that both Vice President Joe Biden and Secretary of State John Kerry were deeply involved in trade and security talks with China as the country began its aggressive campaign to expand its military and physical presence in southern China. However, unlike standard diplomatic practice, both played "good policemen" and did not seriously confront China with its misconduct.
Remember, Biden and Kerry were close friends from their years together in the Senate. So it was no surprise when Biden's son Hunter and Kerry's step-son Christopher Heinz, one of the heirs of Heinz Ketchup's fortune, started their joint business in 2009.
They formed a number of equity and real estate investment firms associated with Rosemont Capital, the Heinz Family Office's alternative investment fund.
So far, so good. Exception: "Over the next seven years, when Joe Biden and John Kerry have completed sensitive and important deals with foreign governments, Rosemont companies have entered into a series of exclusive contracts with the same foreign governments."
For example, Biden traveled to China in December 2013 for talks. He brought Hunter Biden. During his stay, the senior Biden peddled China and played the bilateral trade partnership. Ten days after the trip, the Chinese Central Bank, the Bank of China, set up a $ 1 billion investment joint venture called Bohai Harvest RST. For the record, the "RS" referred to the company of Biden's son, Rosemont Seneca.
That is questionable enough.
Months later, in July 2014, Secretary of State John Kerry also traveled to China for talks. Kerry did not talk much about China's clear-cut aggression, but remarkably noted that "China and the United States represent the largest trade partnership of the economic alliance in human history."
He should know. In the months that followed, Chinese government-affiliated companies participated in and were controlled by several companies owned or controlled by Hunter Biden and Chris Heinz, providing them with billions of dollars in massive financial resources. This is not the only scandal involving John Kerry.
And that just scrapes the surface. The book is a catalog, a virtual roadmap on how to do corrupt business in Washington – and why Americans are wise to wonder why their agents as fraudsters are going to Washington and returning as millionaires.
We can only hope that Biden or Kerry, who are preparing for a challenge for Trump in the 2020 presidential contest, will receive the same relentless test that a Republican with the same consistency would receive. But we will not hold our breath.
The assumption that there are no scandals in the democratic government is the result of the extreme bias of our media and the fact that our fake news reports no corruption of the Democrats