There’s No Such Thing as a Free Inauguration

80 percent of the inaugural contributions have been raised by just over 200 wealthy donors including executives from Citigroup, Lehman Brothers, UBS Americas, Goldman Sachs, Wachovia.

Public Citizen, a non-profit public interest group reports:

Many prominent Wall Street executives have bundled large amounts for the inauguration, including:

• Louis Susman, vice chairman of Citigroup Corporate and Investment Banking and managing director, vice chairman of investment banking, Citigroup ($300,000);

• Mark Gilbert, senior executive, Lehman Brothers ($185,000);

• Robert Wolf, chairman and CEO, UBS Americas ($100,000);

• Jennifer Scully, vice president, private wealth management, Goldman Sachs ($100,000);

• Bruce Heyman, managing director of the Private Wealth Management Group, Midwest region, Goldman Sachs ($50,000);

• Kobi Brinson, senior vice president and assistant general counsel, Wachovia ($35,000)

“It’s no wonder that Wall Street is pouring so much money into this inauguration,” said David Arkush, director of Public Citizen’s Congress Watch division. “The executive branch has given bailouts worth trillions of dollars to Wall Street firms and is considering trillions more. Wall Street has a lot at stake.”

Wall Street is supposed to be bruised, bankrupt and facing their worst financial crisis ever – yet they are funding the largest and most expensive inauguration in the history of the United States of America. Maybe they don’t know there is a deep recession/depression going on in America?

Wall Street banks caused the financial mess we are in. They should be paying for the mess – instead they are bribing Obama to ensure he robs the taxpayer blind to pay for the personal jets and condos of the rich robber bankers.

Compare Obama’s inauguration with that of Thomas Jefferson, who was the first president to take the oath of office in Washington, D.C., the location chosen as the permanent capital of the U.S.A. Jefferson walked to the Capitol in 1801 for his swearing-in, and then returned to a modest boarding house afterwards for dinner.

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2 thoughts on “There’s No Such Thing as a Free Inauguration

  1. I’m reading a book about John Adams. A few days before he was inaugurated, he was staying in a boarding house because his Vice President salary wasn’t enough to afford a house in Philadelphia (then the temporary capitol). The house of a man who owned a newspaper who had been writing terrible things about him started on fire. Adams was one of the men there passing water buckets to help the fire get put out. A few days later he rode to the inauguration by himself in a two horse carriage, gave his remarks, closed with an invocation to God and took the oath of office. George Washington then gave some remarks as departing President. That was it. A lot has changed since then.

  2. Thanks – Adam for that story. Yes – a lot has changed – Obamanomics means we are going to be spending whatever it takes – deficits do not matter in Obamanomics. He promised big government.

    Fact is you can’t sustain deficits – especially when production is not going up and our taxes are bound to go up.

    Obamanomics focuses on full employment instead of full production. Government is already the largest employer in the US – not it will become even bigger and this will be an even bigger burden on the taxpayer.

    Sooner or later the US empire as all empires eventually do, will collapse.

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