[The Toronto Star, Canada]
Le Monde, France
Obama and the Rich: 'This Young
Man Hasn't Finished Showing Us'
"His
management of the 'auto' sector is revealing. Having fired the boss at General
Motors, there he was giving the United Auto Workers the keys to Chrysler - and
tomorrow it will be GM. The UAW is about to become the largest shareholder in both
manufacturers. The most optimistic explanation is that this is the best way to
get the workers to swallow the pill of restructuring, but the shareholders have
lost practically everything. Thank you Mr. Obama!"
By Frédéric
Lemaître
Translated By Mary
Kenney
May 9, 2009
France - Le Monde - Original Article (French)
While the press sings the
praises of Barack Obama one hundred days after his arrival at the White House,
this young man worries me. Every day brings its share of baleful news. Let us pass
over his decision to reveal the horrors carried out by the CIA. That is outside
my field of competence, even if the primacy accorded morality over Realpolitik tells me nothing good. This is not the way Tony
Blair or Hubert Vedrine would have acted [Vedrine,
Jacque Chirac's former foreign minister, is famously resistant to following the
American line].
Posted by WORLDMEETS.US
No, the main concern is the
economy. One would have hoped that the declarations of principle made in the first
few days - aimed at the creation of four million jobs in ten years - would have
engaged only those who heard them. But no: they are taking hold. Despite the
protests of some, the Obama Administration has just given the kick-off to support
for ethanol as an alternative to oil. Above all, the president puts the
emphasis on new technologies. According to his program for recovery, $30
billion are dedicated to this - and 900,000 jobs will very quickly see the
light of day. And unlike the Clinton years, this isn't innovation for
innovation's sake. Three areas have priority: health, the electrical grid and broadband
Internet. At this rate, Europe, which was supposed to be the most competitive
economy by 2010, will have some trouble to address.
The worst is that this
president, not content with being "green," is pursuing a policy that's hostile
to the business climate. His management of the "automobile" sector is
revealing. Having fired the boss at General Motors, there he was giving the United
Auto Workers the keys to Chrysler - and tomorrow it will be GM. The UAW is
about to become the largest shareholder in both manufacturers. The most
optimistic explanation is that this is the best way to get the workers to
swallow the pill of restructuring, but the shareholders have lost practically
everything. Thank you Mr. Obama!
[The Toronto Star, Canada]
Le Monde wasn't wrong in run a headline on February 28 saying that
Mr. Obama was positioning himself clearly "on the left." His fiscal
policies attest to this. First there was the increase in taxes for high
incomes. Let us press on: thanks to Bernard Madoff's friends,
most of those that the press qualifies as "rich" hoped to escape thanks
to some wise tax-haven investments. Vain hope! They are now in the spotlight of
this Mr. Obama. Finished, are the facilities for multinationals to be taxed
only up to 2.3 percent on profits realized abroad.
Posted by WORLDMEETS.US
In this way, Mr. Obama wants earn
and deposit an additional $210 billion into the coffers. Obama,
ordinarily so elegant, even stooped to denounce a Cayman Island law firm that
has registered 18,857 companies. What ingratitude to show to Wall
Street, which has done so much for his economic adviser Larry Summers - and which
so greatly financed his campaign. I tell you: this man hasn't finished showing
us.
e-mail: lemaitre@lemonde.fr
CLICK HERE FOR FRENCH VERSION
[Posted by WORLDMEETS.US May 10, 3:49am]
