Biden and the DOJ Gave a Lucrative Settlement to Fired FBI McCabe

It is an outrage for several reasons and here goes.

Andrew McCabe at the center of the FBI scandalous operation against President Trump settled his counter lawsuit and he should be delighted. McCabe is to receive pension payments going back to the date of his firing. His termination will read he is longer with the Bureau and left in good standing. Any negative items on his record is to be fully expunged. All of his attorney’s fees have been fully reimbursed totaling $540,000.00.

Most crazy in this settlement is the retention of his FBI service cufflinks….yup…cufflinks.

Another items is noted as this :

Additional Provisions
11. This Settlement Agreement is not and shall not be construed as an admission by
any Defendant of the truth of any allegation or the validity of any claim asserted in this lawsuit, or of any Defendant’s liability therein. Furthermore, none of the terms of the Settlement Agreement
may be offered in evidence by any of the Parties in any civil or administrative action or proceeding  against another of the Parties, other than as necessary to consummate, implement, or enforce this Settlement Agreement. The terms of this Settlement Agreement shall not be construed as an admission by any Defendant that the consideration to be provided hereunder represents the relief, if any, that could be recovered after trial.

The full text of the settlement is found here.

Remember this in part?

Former FBI deputy director Andrew McCabe apologized for lying to agents who spent weeks investigating the source of a leak to the Wall Street Journal that actually came from him, new documents reveal.

Shortly before the 2016 election, The Journal reported that an FBI investigation was underway involving then-candidate Hillary Clinton and the Clinton Foundation.

McCabe in May 2017 denied that he was the source of the leak — but later fessed up, angering bureau investigators who had been spinning their wheels trying to identify the source of the leak.

The documents, which the FBI released in response to a Freedom of Information Act lawsuit by the government watchdog group Citizens for Responsibility and Ethics in Washington, include transcripts of McCabe’s conversations with investigators, who were frustrated after wasting their time on the probe.

On Aug. 18, 2017, FBI officials grilled McCabe again to try to unravel what they said was “conflicting information” they had gathered about the possible leak to the Journal, The Daily Beast reported.

Remember this part?

McCabe authorized the FBI to begin investigating Trump personally for possible obstruction of justice in connection with the probe of whether the Trump campaign coordinated with Russia to influence the 2016 election.

Or remember this part?

McCabe authorized two FBI officials to speak for a Wall Street Journal report detailing tension inside the FBI and Justice Department over the Clinton email case and a separate investigation of the Clinton family foundation. But he initially denied having done so when FBI officials — and, later, the inspector general’s office — tried to determine who might have spoken to the media.

The inspector general accused McCabe of lying at least four times, three of them under oath, and even misleading Comey, his boss at the time.

Of course there is more including the activities of his wife. But yes, there are 2 justice systems for sure….the elites get all the breaks.

If you’re outraged…good the rest of the good people of America are outraged too.

 

Will Joe Be Included in the Hunter IRA Money Laundering Investigation?

Another IRS – White House collusion story in the making?

EXCLUSIVE: Joe Biden could become embroiled in the FBI’s probe into Hunter’s finances, experts say: Emails reveal they SHARED bank accounts, paid each other’s bills and the president may have even have funded his son’s 2018 drug and prostitution binge

  • Emails from Hunter Biden’s abandoned laptop, obtained by DailyMail.com, reveal Joe and Hunter shared bank accounts and paid each other’s bills 
  • The president have may have inadvertently funded his son’s 2018 drug and prostitution binge
  • Emails between Hunter and Eric Schwerin, his business partner at consultancy Rosemont Seneca, show Schwerin was working on Joe’s taxes 
  • The claim raises serious questions about whether funds from the joint accounts were used for Hunter’s May 2018 week-long bender with a prostitute 
  • Last December, Hunter admitted in a public statement that he was under federal investigation over his tax affairs 
  • A former federal prosecutor tells DailyMail.com that if money was flowing between Hunter and his father, that could make Joe a target of the probe  
  • The FBI and IRS probe is reportedly also looking into Hunter’s foreign business relationships and the potential for money laundering charges

Hunter’s claim that he and his father shared a bank account also raises serious questions whether funds from the alleged joint account were used for Hunter’s May 2018 week-long bender with a prostitute in a Hollywood hotel.

Emails between Hunter and Eric Schwerin, his business partner at consultancy Rosemont Seneca, show Schwerin was working on Joe's taxes

The FBI and IRS probe is reportedly also looking into his foreign business relationships and the potential for money laundering charges.

The Senate security committee issued a report last year raising fears that the Chinese government was attempting to influence the White House through a billion-dollar business deal between Hunter’s company he co-founded with Schwerin, Rosemont Seneca, and Chinese oil giant CEFC.

John Cassara, a former U.S. Intelligence Officer and Treasury Special Agent who is an expert in money laundering investigations, said that were Joe not president, he would probably be in prosecutors’ crosshairs by now along with his son.

‘The information available publicly is very worrisome, particularly in the areas of corruption,’ Cassara told DailyMail.com.

‘They could go at this from all different avenues. Follow the corruption trail and then charge money laundering.

‘Corruption is a predicate offense for money laundering. And besides corruption, it’s the perception of corruption. This kind of thing should not be happening. It undermines full faith in the US government. It undermines trust and our international reputation. It’s an embarrassment.’

In yet more evidence of the deep commercial relationship between Hunter’s firm and the VP’s office during Joe’s tenure, Rosemont Seneca received special favors from the White House while Joe was in office, including dozens of tickets to exclusive 1600 Pennsylvania Avenue events and private tours for Rosemont Seneca clients or associates.

And when an aide to Senator Robert Menendez requested VP Biden host the U.S.-Spain Council’s 2010 annual meeting at his official Naval Observatory residence in Washington DC, they contacted Schwerin rather than Joe’s White House office.

Hunter and Schwerin then privately discussed the potential to ingratiate themselves with ‘CEOs of the major banks’ if they helped arrange the request.

In 2010, Danny O'Brien, then chief of staff to U.S.-Spain Council chair Senator Menendez, contacted Schwerin asking if VP Biden could host the group's annual meeting at his naval observatory official residence

In 2010, Danny O’Brien, then chief of staff to U.S.-Spain Council chair Senator Menendez, contacted Schwerin asking if VP Biden could host the group’s annual meeting at his naval observatory official residence

Schwerin was also involved in the process of gifting Joe's senate papers to the University of Delaware. A member of the VP's office, Katherina Oyama, wrote to Schwerin in March 2010 detailing the restrictions Joe's White House attorney was recommending over the public release of the papers

Schwerin was also involved in the process of gifting Joe’s senate papers to the University of Delaware. A member of the VP’s office, Katherina Oyama, wrote to Schwerin in March 2010 detailing the restrictions Joe’s White House attorney was recommending over the public release of the papers

Hunter complained that ‘half’ of his salary went to paying his father’s bills while he was VP, casting doubt on Joe’s previous claims that he’s never benefited from his son’s business dealings.

In a 2019 text to his daughter Naomi, he wrote: ‘I hope you all can do what I did and pay for everything for this entire family for 30 years.

‘It’s really hard. But don’t worry, unlike Pop [Joe], I won’t make you give me half your salary.’

Bills Hunter paid for Joe included a $190-a-month AT&T phone bill and thousands in repairs on the president’s lakeside home in Wilmington.

In a 2018 email to one of his own assistants, Hunter complained that he had been shut out of his own bank account and that his father had been using it.

‘Too many cooks in the kitchen. Too many profile changes and such. Happened 10 days ago too…

‘My dad has been using most lines on this account which I’ve through the gracious offerings of Eric have paid for past 11 years,’ he said.

Schwerin made repeated references to Joe and Hunter paying each other’s bills, in emails on Hunter’s laptop.

***Hunter Biden blew tens of thousands on prostitutes, drugs ... source

Joe is proud of his son…

Then there is the China Connection….AGAIN

Source: Hunter Biden said his business relationship with a mysterious Chinese tycoon later arrested on money laundering charges had “everything to do with my last name,” previously unreported emails show.

Biden and his associates met in April 2010 with businessman Che Fung to lay the groundwork for a partnership to invest in companies in China and the United States, according to emails from Biden’s abandoned laptop. Other emails show the Biden consortium discussing a deal with Che’s company, Ever Union Capital, to invest up to $150 million in partnership with China’s sovereign wealth fund. In a Sept. 23, 2011, email to his partner Devon Archer, Biden admitted Che wanted to work with him because of his father, then-vice president Joe Biden.

The emails provide another example of the younger Biden using his family name to further his foreign business interests, undercutting Joe Biden’s claims to the contrary. Hunter Biden landed a high-paying position on the board of Ukrainian energy company Burisma Holdings in 2014, just as his father was taking over the Obama administration’s Ukraine portfolio. Some of Biden’s associates recognized the importance of his family ties to their business deals. One Biden partner touted the “political and strategic value of the Biden family” during 2017 negotiations with a Chinese energy conglomerate.

Che’s fate raises the likelihood that Chinese authorities knew of Biden’s business dealings. Che, who is reported to be the son-in-law of a former chief of China’s central bank, was arrested on Feb. 2, 2015, on charges that he laundered $15 billion. According to one report, Che provided investigators with details of his business activity. It is unclear if he discussed his links to Biden, though the Chinese government would likely have been interested in details of his interactions with the son of an American vice president.

Republicans have asserted that Biden’s foreign business dealings created blackmail opportunities against the Biden family. Sen. Chuck Grassley (R., Iowa) and Sen. Ron Johnson (R., Wis.) said in a report last year that Biden’s partnerships presented “serious counterintelligence and extortion concerns.”

The Biden emails portray an air of mystery surrounding Che, who has been described in press reports as “shadowy and discreet.” Biden and his business partners referred to Che cryptically as “Super Chairman” and “Mr. Che.” His full name is mentioned in just one email from April 2010 that sets up an introductory lunch meeting in Washington, D.C., between the mogul and the Biden consortium. More here.

More and more Havana Syndrome Attacks

Havana syndrome appeared at the US embassy in Colombia U.S. Embassy Bogota, Columbia

Primer in part from the BBC:

A CIA officer who was travelling to India this month with the agency’s director has reported symptoms consistent with so-called Havana syndrome, US media report.

Three unnamed sources told US media that the officer has received medical attention for the mystery illness.

The CIA has not responded to requests for comment by the BBC.

It’s the second reported case in less than a month, as US authorities continue to investigate its cause.

In August, Vice President Kamala Harris’ flight from Singapore to Vietnamese capital Hanoi was briefly delayed after an American official reported symptoms similar to Havana syndrome.

The syndrome first affected people at the US and Canadian embassies in Havana, Cuba, in 2016 and 2017. Dozens of other episodes have since been reported by American officials in the US, China, Russia, Germany and Austria.Havana syndrome reported at United States embassy in ...

Bogota

And now the most recent:

The U.S. Embassy in Bogota, Columbia is host to anti-narcotics operatives, spies, diplomats and aid workers. Just a week before secretary of state Anthony Blinken is scheduled to visit the South American country and after US President Joe Biden last week signed a law that provides increased funding and medical care for US government employees who fall ill with “Havana syndrome”.

He vowed to find “the cause and who is responsible” for the attacks amid reports of US embassy staff in Berlin, Germany, falling ill with symptoms associated with “Havana syndrome”.

At least five American families connected to the bustling U.S. Embassy in Colombia have been afflicted with the mysterious neurological ailment known as Havana Syndrome, in the latest attack against American diplomatic installations, people familiar with the matter said.

In emails to embassy personnel, sent by Ambassador Philip Goldberg and others and reviewed by The Wall Street Journal, the State Department vowed to address the issue “seriously, with objectivity and with sensitivity,” as they work to determine the scope of the afflictions in one of the U.S.’s most important diplomatic outposts.

State Department spokesperson Ned Price declined to comment on the report Tuesday during a department briefing, saying instead the agency is working to ensure all affected personnel get “the prompt care they need in whatever form that takes” and to protect its work force around the world.

Pressed on why the administration wasn’t being more forthcoming, Price said officials had to respect personnel privacy, adding, “It’s certainly not the case that we are ignoring this. We are just not speaking to the press — we’re speaking to our workforce.”

Price also declined to confirm that Blinken is traveling to Colombia. Colombia’s Foreign Ministry announced he would visit for a high-level dialogue on Oct. 20 with Foreign Minister and First Vice President Marta Lucía Ramírez after the two met last week in Paris on the sidelines of the summit of Organization for Economic Cooperation and Development countries. source

42 Reasons the $3.5 Trillion Spending Bill will Wreck America

Hat tip to Congressman Jim Banks and his colleagues:

TO: Republican Study Committee members

FROM: Chairman Jim Banks

DATE: October 12, 2021

RE: Reconciliation Roundup

Democrat's $3.5 Trillion Spending Bill Calls Mothers Both ...

RECONCILIATION ROUNDUP: Policies to Wreck America

TOPLINE: We as congressional Republicans have an urgent duty to tell the truth about what’s REALLY in the Democrats’ $3.5T big government socialist takeover and warn the American people what’s coming.

This bill is a disaster and should be polling at 20%. We all know it.

So, how can we explain the 5255% approval its garnered in the polls? The chief reason that it keeps polling favorably is because we haven’t done a good enough job letting the American people know what’s in it.

Here’s what happens to public opinion when the public learns what’s in these Democrat bills. In March, before Democrats’ $1.9 trillion package passed, 70% of Americans said they favored it. Polled again in August—five months after the bill was enacted, only 35% of Americans said the bill was helping improve the economy or will do so in the future.

To be fair, this is the Democrats’ strategy. They’ve played ‘hide the ball’ with the bill text so as not to tip off the public as to what they’re putting in their bills. Then, they bring it to the floor and tout some poll numbers and scare their members into voting for it.

Luckily, due to Democrats’ stalled legislative agenda, we have bill text and a window into their plan. If we effectively communicate about this bill, we’ll see those poll numbers drop.

I’ve directed staff at the Republican Study Committee to pore over the bill’s pages and produce for you a summary of the worst parts of the bill. Please read and share these points on social media, newsletters, opinion-editorials, and whatever other format you use to get your message out.

  1. Perpetuates labor shortage: Continues welfare benefits without work requirements for able-bodied adults without dependents at a time where there are 10.1 million job openings—more openings than there are people looking for work.
  2. Commissions a climate police: Democrats stuffed $8 billion into the bill to commission a cabal of federally funded climate police called the Civilian Climate Corps (CCC) who will conduct progressive activism on taxpayers’ dime (pages 821, and 926).
  3. Pushes Green New Deal in our public schools: Requires funding for school construction be used largely on enrollment diversity and Green New Deal agenda items (page 55).
  4. Pushes Green New Deal in our universities: Democrats include a $10 billion “environmental justice” higher education slush fund to indoctrinate college students and advance Green New Deal policies (page 1,935).
  5. Forces faith-based child care providers out: The bill blocks the ability of many faith-based providers from participating in the childcare system and will lead to many of their closures (page 280).
  6. Hurts small and in-home daycares: Requires pre-K staff to have a college degree. (page 303)
  7. Includes new incentives for illegal immigration: Illegal immigrants will be eligible to take advantage of Democrats’ new ‘free’ college entitlement (page 92) as well be eligible for additional student aid (page 147) and the enhanced child tax credit (page 1,946).
  8. Includes legislative hull for Biden’s vaccine mandate: Increases OSHA penalties on  businesses that fail to implement the mandate up to $700,000 per violation and includes $2.6 billion in funding for the Department of Labor to increase enforcement of these penalties (page 168).
  9. Gives unions near-total control: The bill includes insane prohibitions that would bind employers’ hands in union disputes and dangerously tilt the balance of power, subjecting employers to penalties that exempt union bosses and officials… among other things this bill would prevent employers from permanently replacing striking workers (page 175). It coerces businesses to meet union boss demands by increasing Fair Labor Standards Act penalties by an astronomical 900% (page 168).
  10. Makes unions bigger and more powerful: The bill would subsidize union dues that would only serve to strengthen the influence of union bosses and not American workers (page 2323).
  11. Pushes Democrats’ wasteful and confusing school lunch agenda: $643 million for, among other things, “procuring…culturally appropriate foods” (page 333).
  12. Furthers radical abortion agenda: Does not include the Hyde amendment and would mandate taxpayers pay for abortions (page 198) & (page 336).
  13. Drives up costs on Americans’ utility bills: Issues a punitive methane tax (page 367) and includes a tax on natural gas up to $1,500 per ton that could cost the American economy up to $9.1 billion and cost 90,000 Americans their jobs (page 368).
  14. Includes dangerous & deadly green energy mandate: Effectively forces Americans to get 40% of their energy from wind, solar and other unreliable forms of energy within 8 years (page 392). Reliance on these energy sources has proven deadly.
  15. Includes kickbacks for the Left’s green energy special interest network: $5 billion for “environmental and climate justice block grants” (page 377) and another $100 billion in green energy special interest subsidies, loans and other carve outs.
  16. Gives wealthy Americans tax credits: $222 billion in “green energy” tax credits will be given to those who can afford expensive electric vehicles and other “green” innovative products (page 1832).
  17. Furthers Democrats’ social justice agenda: Includes “equity” initiatives throughout the bill and, in one instance, Democrats inserted “equity” language into a title which should have been focusing on the maintenance of the United States’ cyber security efforts (page 897).
  18. Grants amnesty for millions of illegal immigrants: House Democrats have included in their reconciliation bill a plan to grant amnesty to around 8 million illegal immigrants at a cost of around $100 billion over ten years that would largely be spent on welfare and other entitlements (page 901). Trillions more would be spent long term on their Social Security and Medicare.
  19. Opens border even wider: The bill would waive many grounds for immigration inadmissibility, including infection or lack of vaccination status during a Pandemic, failure to attend removal proceedings in previous immigration cases, and the previous renouncement of American citizenship. DHS may also waive  previous convictions for human trafficking, narcotics violations, and illegal voting (page 903).
  20. Increases visa limit: At least 226,000 family-preference visas would be administered each year (page 905).
  21. Grants fast-tracked green cards for those seeking middle-class careers in America: Language included in the bill exempts certain aliens from the annual green card statutory limits and has been described as a  “hidden pipeline for U.S. employers to flood more cheap foreign graduates into millions of middle-class careers needed by American graduates” (page 910).
  22. Includes pork for Nancy Pelosi: $200 million is earmarked for the Presidio Trust in Speaker Pelosi’s congressional district (page 933).
  23. Increases energy dependence on OPEC, Russia and China: The bill prohibits several mineral and energy withdrawals (page 979). It overturns provisions included in the Tax Cuts and Jobs Act that authorized energy production in the Arctic that will result in 130,000 Americans losing their jobs and $440 billion in lost federal revenue (page 983) and the mineral withdrawals it prohibits would, ironically, include minerals necessary for renewable energy sources (pages 934940943).
  24. Exacerbates the chip shortage: The bill would mandate the conversion of the entire federal vehicle fleet from internal combustion engines to electric engines at a time when there is a global microchip shortage and crippled supply chains (page 1,043).
  25. Democrats’ feckless China bill is included: Concepts from the insanely weak Endless Frontier Act included, including $11 billion in research funding that will likely result in American intellectual property going to China (page 1079 – 1081).
  26. Chases green energy pipe dreams: $264 million to the EPA to conduct research with left-wing environmental justice groups on how to transition away from fossil fuels (page 1063).
  27. Fixes “racist” roads and bridges: Adds a nearly $4 billion slush fund that would help left-wing grassroots organizations that, among other things, want to tear down and rebuild or otherwise alter infrastructure deemed “racist” (page 1183).
  28. Punishes red states for failing to adopt Green New Deal provisions: Mandates “consequences” for conservative states that don’t meet the radical Left’s “green” climate standards while at the same time adding nearly $4 billion for “Community Climate Incentive Grants” for cooperating states (page 1179).
  29. Includes new massive, bankrupting entitlement: The new paid leave entitlement would mandate workers get 12 weeks of paid leave and would cost $500 billion over ten years according to the CBO (page 1245). It would apply to those making up to half a million dollars a year (page 1254).
  30. Advances a totalitarian and paternalistic view of the federal government: Includes grants for organizations to treat individuals suffering from “loneliness” and “social isolation.”
  31. Further detaches individuals from employment and more reliant on government handouts: The bill spends $835 billion on welfare through manipulating the tax code [not including the expansions of Obamacare subsidies] (page 1943).
  32. Tax benefits for the top 1%: The bill will possibly lift the SALT deduction cap meaning many of the top 1% wealthiest Americans would pay less in taxes.
  33. Tax credit for wealthy donors who give to woke universities: The bill creates a new tax credit program that gives tax credits worth 40% of cash contribution that are made to university research programs (page 2094).
  34. Expands worst parts of Obamacare: Obamacare’s job-killing employer mandate will become more severe by adjusting the definition of “affordable coverage” to mean coverage that costs no more than 8.5 percent of income rather than current law’s 9.5 percent of income (page 2041).
  35. Increases taxes on Americans at every income level: $2 trillion in tax hikes will fall on those making under $400,000 per year, contrary to what the White House says. Individuals at all income levels will be affected (Ways and Means GOP).
  36. Lowers wages for working families: The corporate tax rate will increase by 5.5%, meaning American companies will face one of the highest tax burdens in the world. According to analysis, two-thirds of this tax hike will fall on lower- and middle-income taxpayers (page 2110).
  37. Penalizes marriage: The bill would permanently double the EITC’s marriage penalty on childless worker benefits (page 2036).
  38. Imposes crushing taxes on small business: Guts the Tax Cuts and Jobs Act small business deductions that reduced pass-through entity taxes to keep them comparable to taxes imposed on corporations (page 2235) as well as hammer small businesses that file as individual tax earners with the 39.6% rate (page 2221) and Obamacare’s 3.8% tax on net investment income.
  39. Crushes family businesses and farms: The bill would impose a 25% capital gains rate  (page 2226) and makes alterations to the Death Tax including cutting the Death Tax exemption in half (page 2240).
  40. Violates Americans’ financial privacy: $80 billion slush fund to hire an 87,000-IRS-agent army to carry out the Biden administration’s plan to review every account above a $600 balance or with more than $600 of transactions in a year. (page 2283).
  41. Increases out of pocket costs for those who rely on prescription drugs: The bill repeals the Trump-era Rebate Rule which passes through rebates directly to consumers at the point of sale (page 2465).
  42. Imports policies from countries with socialized medicine: The bill includes healthcare policies imported from systems in Australia, Canada, France, Germany, Japan and the United Kingdom—all countries that have government-run healthcare systems (page 2349).

Conclusion: Each of these 42 bullets is enough to vote against the bill. Taken together—it’s mind-blowingly corrupt. We need to loudly oppose it.Critics Pan Biden's Claim That $3.5 Trillion Spending Bill ...

Democrats are scattered. The Biden agenda is in question. It’s the perfect opportunity to build public sentiment against this bill. The American people need us to be the vanguard against the Left’s radical plans.

It’s not an understatement to say this bill, if passed, will fundamentally change our country forever—Americans will wake up in a few years and wonder what happened to their freedom. We can’t let that happen.

Media Mentions

Washington Examiner- GOP list: 42 ways Pelosi-Biden $3.5 trillion bill will ‘wreck America’

Here’s one thing that GOP leaders and House Speaker Nancy Pelosi agree on when it comes to the nation’s unenthusiastic reaction to President Joe Biden’s massive $3.5 trillion spend-and-tax plan. Both sides think their messaging stinks.

NY Post- ‘Mind-blowingly corrupt’: GOP congressman outlines ‘worst’ parts of $3.5T spending bill

Republican Study Committee Chairman Jim Banks laid out his case against President Biden and the House Democrats’ sweeping social spending bill in a memo sent to members of the largest conservative caucus in Congress on Tuesday.

Breitbart- Jim Banks Reveals the ‘Mind-Blowingly Corrupt’ Carveouts in $3.5 Trillion Infrastructure Bill

Rep. Jim Banks (R-SC), the chairman of the Republican Study Committee (RSC), detailed many of the most radical aspects of the $3.5 trillion infrastructure bill.

Townhall- 40+ Radical Programs Democrats Don’t Want You to Notice in Biden’s Budget

Related Reading

The Corrupt Monetary Operations and Investments in the Obama Presidential Library

There have been numerous lawsuits filed against the construction of the facility and here is one example.

After 5 years, Obamas to break ground on Presidential ...

But it got the go-ahead –>

This is the second time the court has denied an application for an injunction against the Obama Presidential Center, which will be overseen by the nonprofit Obama Foundation.

Chief Justice John Roberts denied an application for relief filed by Protect Our Parks, a Chicago-based nonprofit group “dedicated to keeping public park land open to the public,” according to the website.

The denial of the application was published among a long list of other orders from the court on Monday.

Protect Our Parks named Transportation Secretary Pete Buttigieg as defendant in their request for an injunction. The group wants his department to stop any construction from taking place in Jackson Park and argue he has the necessary authority to do so.Barack and Michelle Obama Break Ground on Presidential ... source

Source: With great fanfare, the Obama Presidential Center broke ground in late September in Chicago’s Jackson Park. With Barack and Michelle Obama, Mayor Lori Lightfoot, and Illinois Governor J. B. Pritzker among those present, the event garnered fawning national media coverage, including a profile on ABC’s Good Morning America.

But none of the stories on the monument to the Obama presidency mentioned the most important angle: the fact that the man responsible for getting it funded made a fortune as a result of the Obama presidency’s policies.

A longtime friend of Barack Obama, Marty Nesbitt has led the fundraising efforts for the Center, whose price tag is now an estimated $830 million.

In 2017, Nesbitt’s private equity fund Vistria and two other investors purchased the University of Phoenix at a bargain price. This, after Obama administration regulations caused the price of the company to crater. Years earlier, the Obama Department of Education began threatening for-profit universities with regulations which could cause damage to their profitability. In 2015, the Pentagon suspended GI Bill funding eligibility for the school as well.

With the college’s income at risk, stock in the company dropped, allowing Nesbitt’s Vistria Group and the other investors to purchase the University’s parent company for $1.14 billion; before the Obama administration’s actions, the company “had been worth almost nine times that price.”

Some of the Department of Education involved with implementing the original regulations, including Deputy Secretary Tony Miller, would leave the administration and actually join Vistria. Education Secretary Arne Duncan shared office space with Vistria after his tenure as Education Secretary ended.

After the price was set, but before the sale was approved,  Obama’s Pentagon lifted its suspension on federal money for the University of Phoenix, dramatically increasing the value of Vistria’s new acquisition.

The Obama administration also cracked down on cash advance businesses and, coincidentally, Nesbitt was poised to profit there also. Interestingly, one company would benefit from these regulations: ForwardLine Financial, a cash advance business in California. In October 2015, ForwardLine Financial appointed Marty Nesbitt as the company’s new chairman. While all of its competitors suffered under the new regulations, ForwardLine thrived in the wake of the new rules, actually expanding its business.

Nesbitt was also appointed to the boards of American Airlines and Norfolk Southern Railroad while Obama was in office as those industries faced the threat of new federal regulations. Nesbitt made hundreds of thousands of dollars in his role on those boards, and the threatened federal regulations never materialized.

For his part, Nesbitt seemed to return the favor. In 2015, Nesbitt purchased Hawaiian beachfront property, including the Magnum, P.I. locale, for the Obamas’ second (or third) home. Among environmental concerns and regulation “loopholes,” officials approved the property’s sale and seawall construction. However, experts state that seawalls are damaging to beaches and ocean flow, at odds with Obama’s previously strong environmental stance.

Under the Biden administration, Nesbitt seems poised to profit off potential federal intervention into new areas.

Marty Nesbitt is still on the board of American Airline’s and ForwardLine. He is also a trustee of the University of Phoenix, and Vistria is still part owner of its parent group.

In the Biden administration, President Biden’s pick for Treasury Deputy Secretary, Wally Adeyemo, worked with Nesbitt as the Obama Foundation’s President.

Congress also has plans to double the Pell Grant, benefiting colleges, like the University of Phoenix. The University was 2018’s third highest school “with the most Pell grant awards among enrolled students.” President Biden has previously called for an investment, totaling around $85 billion, for the Pell Grant. The American Rescue Plan also distributes funding to universities based on Pell Grant data.

In 2021, the University of Phoenix lobbied Congress on the American Rescue Plan. One of the University’s owners, Apollo Global Management, spent more than any other education group on lobbying, totaling $1.08 million by June, lobbying various parts of the American Rescue Plan.

American Airlines has also benefited in the Biden administration. The U.S. government chose the airline, one of eight, for the 2022 City Pairs Program, a contract worth $1.1 billion. The program helps government workers with flights. Airlines must have certain authorizations, including Department of Defense approval, for eligibility.

[1] Secret Empires, pg. 146-147

[2] Secret Empires, pg. 150

[3] Secret Empires, pg. 151

[4] Secret Empires, pg. 152

[5] Secret Empires, pg. 151-152

[6] Secret Empires, pg. 151

[7] Secret Empires, pg. 154-155

[8] Secret Empires, pg. 157-158

[9] Secret Empires, pg. 158-161