Commentary Magazine


Topic: John Paulson

Flotsam and Jetsam

CATO points out: “When you run down this list of elements in the Obama plan and the Romney plan, they are all identical… Both the Romney plan and the Obama plan are essentially a government takeover of the health care sector of the economy.”

A new poll points to Harry Reid’s vulnerability: “U.S. Sen. Harry Reid must pick up far more support from crossover Republicans and independents to win re-election, according to a new poll that shows him losing to the GOP front-runner in a full-ballot election with eight contenders and a ‘none of these candidates’ option. The survey of Nevada voters commissioned by the Review-Journal shows Reid getting 37 percent of the vote compared with 47 percent for Republican Sue Lowden, who would win if the election were today, while the slate of third-party and nonpartisan candidates would get slim to no backing.”

Another poll points to an electoral thumping in November for the Democrats: “Republicans have slightly increased their advantage over Democrats in the generic Congressional ballot, from 46-43 last month to 47-42 now.”

Chris Christie points out: “We are, I think, the failed experiment in America—the best example of a failed experiment in America—on taxes and bigger government. Over the last eight years, New Jersey increased taxes and fees 115 times.” He seems serious about waging a war on spending, bloated pensions, public unions and regulatory excess.

Rep. Pete King points to Obama’s Israel animus: “No American ally is more trusted or reliable than Israel. Throughout the darkest days of the Cold War, and now in the war against Islamic terrorism, Israel has stood with the United States every step of the way. Israel shares our democratic principles and always has the courage to do what has to be done. The value of this unique alliance has been shared by all our Presidents — Democrats and Republicans alike. This is why I strongly believe it has been so wrong for President Obama to continually escalate and publicize his differences with Israeli Prime Minister Benjamin Netanyahu. This is no way to treat such a long-time ally.”

A Senate Republican points out an Obama nominee’s non-judicial temperament: “A top Senate Republican hammered liberal law professor Goodwin Liu’s writings as ‘vicious, emotionally and racially charged’ at his confirmation hearing Friday – igniting the first real test of whether Republicans will be able to block the most controversial of President Barack Obama’s lower court judicial nominees. Sen. Jon Kyl (R-Ariz.) slammed Liu’s testimony against Samuel Alito during his confirmation hearings for the Supreme Court.” This same nominee “forgot” to submit over a hundred documents.

A new survey points to an uneven economy recovery: “U.S. consumer sentiment took a surprise negative turn in early April due to a persistently grim outlook on income and jobs, a private survey released on Friday showed. A slip in economic expectations to its lowest in a year likely stemmed from consumers hearing negative information on government programs and a perception that the recovery is too slow, according to Thomson Reuters/University of Michigan’s Surveys of Consumers. … The surveys’ overall index on consumer sentiments slipped to 69.5 in early April — the lowest in five months. This was below the 73.6 reading seen at the end of March and the 75.0 median forecast of analysts polled by Reuters.”

Ben Smith points to inconvenient facts for New York Democrats: “A few weeks before playing a central role in fraud charges against Goldman Sachs, hedge fund titan John Paulson invited colleagues to a fundraiser for Senator Chuck Schumer — ‘one of the few members of Congress that has consistently supported the hedge fund industry’ — according to a copy of the invitation… Schumer is credited by some with helping to kill a Democratic push to tax carried interest, which would have put a dent in the massive earnings of a small number of ultra-wealthy money managers. With Goldman, and perhaps Paulson, in the SEC’s sights, some of the taint may rub off on their allies — and both of New York’s senators are among them. Schumer’s junior colleague, Kirsten Gillibrand, is the single top recipient of contributions from Goldman Sachs employees.”

The Wall Street Journal editors point out there’s no meeting of the minds on the START deal: “Signed with some pomp last week in Prague, the pact with Russia makes modest reductions to the number of strategic warheads and delivery systems. Though those cuts are worth a close look, we’re much more concerned with the impact that new START will have on America’s ability to develop and deploy the best missile defenses available. Starting with the Reagan-era Strategic Defense Initiative, the Kremlin has sought to tie America’s hands on missile defense. The Kremlin says that this is precisely what it has negotiated with START. The Administration says it didn’t. They can’t both be right.”

CATO points out: “When you run down this list of elements in the Obama plan and the Romney plan, they are all identical… Both the Romney plan and the Obama plan are essentially a government takeover of the health care sector of the economy.”

A new poll points to Harry Reid’s vulnerability: “U.S. Sen. Harry Reid must pick up far more support from crossover Republicans and independents to win re-election, according to a new poll that shows him losing to the GOP front-runner in a full-ballot election with eight contenders and a ‘none of these candidates’ option. The survey of Nevada voters commissioned by the Review-Journal shows Reid getting 37 percent of the vote compared with 47 percent for Republican Sue Lowden, who would win if the election were today, while the slate of third-party and nonpartisan candidates would get slim to no backing.”

Another poll points to an electoral thumping in November for the Democrats: “Republicans have slightly increased their advantage over Democrats in the generic Congressional ballot, from 46-43 last month to 47-42 now.”

Chris Christie points out: “We are, I think, the failed experiment in America—the best example of a failed experiment in America—on taxes and bigger government. Over the last eight years, New Jersey increased taxes and fees 115 times.” He seems serious about waging a war on spending, bloated pensions, public unions and regulatory excess.

Rep. Pete King points to Obama’s Israel animus: “No American ally is more trusted or reliable than Israel. Throughout the darkest days of the Cold War, and now in the war against Islamic terrorism, Israel has stood with the United States every step of the way. Israel shares our democratic principles and always has the courage to do what has to be done. The value of this unique alliance has been shared by all our Presidents — Democrats and Republicans alike. This is why I strongly believe it has been so wrong for President Obama to continually escalate and publicize his differences with Israeli Prime Minister Benjamin Netanyahu. This is no way to treat such a long-time ally.”

A Senate Republican points out an Obama nominee’s non-judicial temperament: “A top Senate Republican hammered liberal law professor Goodwin Liu’s writings as ‘vicious, emotionally and racially charged’ at his confirmation hearing Friday – igniting the first real test of whether Republicans will be able to block the most controversial of President Barack Obama’s lower court judicial nominees. Sen. Jon Kyl (R-Ariz.) slammed Liu’s testimony against Samuel Alito during his confirmation hearings for the Supreme Court.” This same nominee “forgot” to submit over a hundred documents.

A new survey points to an uneven economy recovery: “U.S. consumer sentiment took a surprise negative turn in early April due to a persistently grim outlook on income and jobs, a private survey released on Friday showed. A slip in economic expectations to its lowest in a year likely stemmed from consumers hearing negative information on government programs and a perception that the recovery is too slow, according to Thomson Reuters/University of Michigan’s Surveys of Consumers. … The surveys’ overall index on consumer sentiments slipped to 69.5 in early April — the lowest in five months. This was below the 73.6 reading seen at the end of March and the 75.0 median forecast of analysts polled by Reuters.”

Ben Smith points to inconvenient facts for New York Democrats: “A few weeks before playing a central role in fraud charges against Goldman Sachs, hedge fund titan John Paulson invited colleagues to a fundraiser for Senator Chuck Schumer — ‘one of the few members of Congress that has consistently supported the hedge fund industry’ — according to a copy of the invitation… Schumer is credited by some with helping to kill a Democratic push to tax carried interest, which would have put a dent in the massive earnings of a small number of ultra-wealthy money managers. With Goldman, and perhaps Paulson, in the SEC’s sights, some of the taint may rub off on their allies — and both of New York’s senators are among them. Schumer’s junior colleague, Kirsten Gillibrand, is the single top recipient of contributions from Goldman Sachs employees.”

The Wall Street Journal editors point out there’s no meeting of the minds on the START deal: “Signed with some pomp last week in Prague, the pact with Russia makes modest reductions to the number of strategic warheads and delivery systems. Though those cuts are worth a close look, we’re much more concerned with the impact that new START will have on America’s ability to develop and deploy the best missile defenses available. Starting with the Reagan-era Strategic Defense Initiative, the Kremlin has sought to tie America’s hands on missile defense. The Kremlin says that this is precisely what it has negotiated with START. The Administration says it didn’t. They can’t both be right.”

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