Obama tells America’s CEOs to quit complaining about those stifling regulations

posted at 12:01 pm on August 4, 2014 by Noah Rothman

America’s corporate officers and CEOs are deeply concerned about a variety of new financial and industrial regulations imposed on them by the administration. In a recent interview with The Economist, President Barack Obama addressed the concerns of American corporate officers and others in a compelling and comprehensive fashion when he told them, essentially, to shut up.

From new regulatory regimes imposed by legislation, like the Affordable Care Act and the Dodd-Frank financial reforms, to executive actions like those which recently allowed the Environmental Protection Agency to regulate carbon emissions, many are sounding the alarm. The president, however, does not think these captains of industry have any standing to complain.

“If you look at what’s happened over the last four or five years, the folks who don’t have a right to complain are the folks at the top,” Obama said.

“I would take the complaints of the corporate community with a grain of salt,” he continued. “They always complain about regulation. That’s their job.”

Reuters noted that Obama has “toned down” the populist rhetoric he appealed to in his first term, including using inflammatory terms like “fat cats” to describe Wall Street-based financial professionals. This new tone Obama displayed in his interview with The Economist is, however, not all that dissimilar from the excessive bombast employed by Occupy’s agitators at the height of that leftist protest movement:

“Oftentimes, you’ll hear some hedge-fund manager say, ‘Oh, he’s just trying to stir class resentment’. No. Feel free to keep your house in the Hamptons and your corporate jet, etcetera. I’m not concerned about how you’re living,” Obama said.

“I am concerned about making sure that we have a system in which the ordinary person who is working hard and is being responsible can get ahead,” he said.

What is fascinating here is the president is using language laced with hostility toward American corporate culture while simultaneously defending the federal institutions which many conservatives have claimed dole out undue corporate welfare.

“There is no doubt that a thread has emerged in the Republican Party of anti-globalisation that runs contrary to the party’s traditional support for free trade,” Obama said of the debate surrounding the reauthorization of the Export-Import Bank.

How the Export-Import Bank and the Overseas Private Investment Corporation (OPIC) became targets for Tea Party wrath is a little strange to me. But I do think there remains a consensus within the American business community that ultimately we benefit from trade. I am confident that we can get AGOA reauthorised and refined, given the lessons learned from the first round of AGOA. And the truth is that the amount of trade between the United States and Africa is so small relative to our overall economy that in no way should it be perceived as a threat.”

As conservatives like Sen. Ted Cruz (R-TX) have noted, the Export-Import Bank is anything but a majoritarian institution that promotes free and fair global trade. Writing in USA Today last week, Cruz accused the bank of enriching foreign firms and those large corporations with the biggest lobbying footprint in Washington.

Contrary to the values that keep America strong, safe and free, the Export-Import Bank has facilitated lending to governments in Congo and Sudan, countries with horrific human rights records. It has financed Chinese power plants and backed Russian billionaires buying luxury planes. And, it has provided lots and lots of financing to oil companies in Russia, Brazil, the United Arab Emirates and Saudi Arabia that compete directly with America’s energy companies.

“The paradox of Obama’s position is made even more explicit in question posed by The Economist interlocutor, who seems to think that China can do a better job of engaging in free trade — so much so, that it ends in a joke about how nice it would be if Obama were a dictator,” National Review’s Joel Gehrke observed.

Obama’s populist rhetoric is perfectly untethered to any ideological commitment to populism; the president can shift seamlessly from People’s Revolutionary to calculating monopolist. For its part, the press seems unconcerned with Obama’s blatantly contradictory rhetoric. For many, it seems, the desired end justifies even dishonest means.


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The Queen of Bithynia speaks.

Oil Can on August 4, 2014 at 12:04 PM

“If you look at what’s happened over the last four or five years, the folks who don’t have a right to complain are the folks at the top,”

So sayeth the Complainer-in-Chief.

Resist We Much on August 4, 2014 at 12:06 PM

What an a-hole.

dpduq on August 4, 2014 at 12:06 PM

When will obama tell Hillary “at some point you think you made enough money”?

When will he tell that to himself?

Schadenfreude on August 4, 2014 at 12:08 PM

What an a-hole.

dpduq on August 4, 2014 at 12:06 PM

Stop insulting a-holes by comparing them to Obama

NoFanofLibs on August 4, 2014 at 12:08 PM

“Kwitcherbitchin”, the King explained.

Midas on August 4, 2014 at 12:08 PM

Thanks to whomever chose to not include a photo of the scumbag-in-chief.

I hope it was intentional.

WhirledPeas on August 4, 2014 at 12:08 PM

Noah, you must put up a picture of the oaf, who’s chief.

Threads are just not the same without pictures and captions.

Schadenfreude on August 4, 2014 at 12:09 PM

Obama should pay for the cost of these regulations himself if he thinks its about nothing. What an imbecile.

garydt on August 4, 2014 at 12:09 PM

What an a-hole.

dpduq on August 4, 2014 at 12:06 PM

Not much more needs to be said.

gwelf on August 4, 2014 at 12:09 PM

Thanks to whomever chose to not include a photo of the scumbag-in-chief.

I hope it was intentional.

WhirledPeas on August 4, 2014 at 12:08 PM

Noooo

Put up a picture of a phantom, at least.

Schadenfreude on August 4, 2014 at 12:09 PM

The president should give up golf, AF1, and vacations in rich exclusive areas,,, are not all of these perks of the CEOs? Why does this Obama like to play golf,,, isn’t golf a symbol of corporate wealth by his standards?

garydt on August 4, 2014 at 12:11 PM

“If you look at what’s happened over the last four or five years, the folks who don’t have a right to complain are the folks at the top,” Obama said.

I agree with the oaf in chief, from only two perspectives:

Most of them helped to bring the azz, twice.

Most of them are 1%rs whom he enriched.

p.s. the fool calls all “folks”, which is an insult.

Schadenfreude on August 4, 2014 at 12:12 PM

“…the desired end justifies even dishonest means.”

I’m pretty sure that’s the DNC motto.

Dexter_Alarius on August 4, 2014 at 12:12 PM

Funny, he doesn’t mind complaining about the restraints of the Constitution.

Flange on August 4, 2014 at 12:12 PM

If you like your plan you can keep your plan – LIE
Your premiums will drop on average $2,500 – LIE
If you like your doctor you can keep your doctor – LIE
ObamaCare will create jobs – LIE
ObamaCare will reduce the deficit – LIE

Instead, ObamaCare has caused a shift from full-time to part-time work and worsened the healthcare insurance of millions of Americans.

But this jackwad wants to tell CEO’s to stop complaining about insurance? When he’s the guy in charge of the regulations directly responsible people dropping out of the job market or being kicked to part-time work.

From a guy who’s never run anything in his life except his mouth.

gwelf on August 4, 2014 at 12:14 PM

Obama’s populist rhetoric is perfectly untethered to any ideological commitment to populism; the president can shift seamlessly from People’s Revolutionary to calculating monopolist. For its part, the press seems unconcerned with Obama’s blatantly contradictory rhetoric. For many, it seems, the desired end justifies even dishonest means.

Suffocate in obama’s azz, fools. It ain’t Beluga caviar.

YOU no longer deserve to live/work freely, protected by the 1st Amendment, because you NO longer earn it.

Schadenfreude on August 4, 2014 at 12:16 PM

Our fascist in chief wants you to pipe down.

If you want a special carve out in regulation – say a waiver from ObamaCare – then you’d better donate lots of money to OFA and lefty lobbyists and coordinate more with the government in “public/private partnerships”.

Maybe you can run a “green energy” scheme where Obama will throw money at you.

gwelf on August 4, 2014 at 12:17 PM

“If you look at what’s happened over the last four or five years, the folks who don’t have a right to complain are the folks at the top,” Obama said.

 
Shame about all of those ignition switch deaths in your GM vehicles, eh Mr. President?

rogerb on August 4, 2014 at 12:24 PM

The Queen of Bithynia speaks.

Oil Can on August 4, 2014 at 12:04 PM

HA!

Embrace the suck…

workingclass artist on August 4, 2014 at 12:25 PM

Lying liar lies. Obama has been for over ten years.

Everything that Obama says is not just a shade of a lie but is 180 degrees from the truth. I think he gets a kick out of calling something like the “Affordable Care Act” when the premiums are doubling. I bet he sits back and laughs at us. He is always fighting for the little guy and middle America but the little guy makes 10% less and the average household is worth 35% less since he took over. He talks of the children while saddling them with $10 trillion in new debt.

Obama lies, he lies all the time. Even when he does not need to lie, Obama will lie. He can’t help himself. We have a stage 10 NPD and sociopath as the president.

jukin3 on August 4, 2014 at 12:25 PM

OT but Xcellent news…

Illegal Alien And Serial Plaintiff Millionaire Alfredo Garcia Finally Deported

http://www.thegatewaypundit.com/2014/08/illegal-alien-and-serial-plaintiff-millionaire-alfredo-garcia-finally-deported/

workingclass artist on August 4, 2014 at 12:26 PM

“There is no doubt that a thread has emerged in the Republican Party of anti-globalisation that runs contrary to the party’s traditional support for free trade,” Obama said…”

aaaaaaaaaand there is no doubt that lil’ barry soetero has no freakin’ clue what he just burped up there. He memorized it then puked it up.

This moron has NO grounding in economics, business, or for that matter walking through life without a handout.

Just shut your stupid halitosis ridden piehole and get out. Take your ugly foul mule wife, and leave. Nobody likes you except the people you’re giving free stuff to, and that’s only because you’re giving them stuff.

You suck, barky. And you are a stupid, stupid, little man.

GrassMudHorsey on August 4, 2014 at 12:31 PM

The right to petition the government for redress of greivances is guaranteed by the constitution for a reason. No one likes hearing complaints but where there are no complaints, there will be no change and societal anxieties unaddressed compile to the point of instability. A representative democracy is designed to listen and respond to complaints precisely because it reduces instability.

KW64 on August 4, 2014 at 12:34 PM

“If you look at what’s happened over the last four or five years, the folks who don’t have a right to complain are the folks fvcks at the top,” Obama said–referring to himself.

Pronunciation aside, this is a truthful statement.

NOMOBO on August 4, 2014 at 12:34 PM

Why Obama be hatin’?

gwelf on August 4, 2014 at 12:36 PM

This kind of talk certainly comes from a person who has never seen a corporate balance sheet in his life. He may say so but he has probably never seen one. He probably would not even know what GAAP means, let alone what is in one of those.

ojfltx on August 4, 2014 at 12:43 PM

Obama’s remarks are entirely consistent with pure totalitarianism. He supports businesses when it means more government control. He supports populists when it means more government control.

The one thing he will not tolerate is any expansion of liberty.

TBSchemer on August 4, 2014 at 12:44 PM

Obama: my way or the highway
me: hit the road jack
me again: what an ass.

warmairfan on August 4, 2014 at 12:48 PM

Use this for a picture of Obama.

theotherone on August 4, 2014 at 12:50 PM

Why Obama be hatin’?

gwelf on August 4, 2014 at 12:36 PM

Indeed…

22044 on August 4, 2014 at 12:53 PM

Fine – and YOU quit bitchin’ about the wages we pay, the benefits we do or don’t provide, the jobs we don’t provide, the people we lay off, the taxes we don’t pay on profits we don’t make, and the prices we charge for our products.
Deal?

dentarthurdent on August 4, 2014 at 12:53 PM

Fine – and YOU quit biotchin’ about the wages we pay, the benefits we do or don’t provide, the jobs we don’t provide, the people we lay off, the taxes we don’t pay on profits we don’t make, and the prices we charge for our products.
Deal?

dentarthurdent on August 4, 2014 at 12:54 PM

Call a fascist a fascist.

Viator on August 4, 2014 at 12:57 PM

Obama tells America’s CEOs to quit complaining about those stifling regulations

F*ck You.

ToddPA on August 4, 2014 at 12:58 PM

This coming from a President who whines like a little spoiled brat about literally EVERYTHING!

ConstantineXI on August 4, 2014 at 1:00 PM

It’s past time that someone bends Obama over (oh … wait, there’s rumors.)

UnstChem on August 4, 2014 at 1:01 PM

OT but Xcellent news…

Illegal Alien And Serial Plaintiff Millionaire Alfredo Garcia Finally Deported

http://www.thegatewaypundit.com/2014/08/illegal-alien-and-serial-plaintiff-millionaire-alfredo-garcia-finally-deported/

workingclass artist

Meanwhile, recent illegals are being flown to the Virgin Islands. Guess Hawaii wasn’t good enough for them.

xblade on August 4, 2014 at 1:01 PM

Obama’s remarks are entirely consistent with pure totalitarianism. He supports businesses when it means more government control. He supports populists when it means more government control.

The one thing he will not tolerate is any expansion of liberty.

TBSchemer on August 4, 2014 at 12:44 PM

The reason why conservatives and progressives can no longer inhabit the same nation:

Conservatives want to be left alone.

Progressives CANNOT tolerate the existence of people who are outside their control.

ConstantineXI on August 4, 2014 at 1:02 PM

It’s past time that someone bends Obama over (oh … wait, there’s rumors.)

UnstChem on August 4, 2014 at 1:01 PM

“Reggie Love, please report to the oval orifice, Reggie Love to the oval orifice…”

dentarthurdent on August 4, 2014 at 1:03 PM

Meanwhile, recent illegals are being flown to the Virgin Islands. Guess Hawaii wasn’t good enough for them.

xblade on August 4, 2014 at 1:01 PM

Send them all to Puerto Rico and then grant it independence.

ConstantineXI on August 4, 2014 at 1:03 PM

Meanwhile, recent illegals are being flown to the Virgin Islands. Guess Hawaii wasn’t good enough for them.

xblade on August 4, 2014 at 1:01 PM

Must be nice – my son just paid $1000 for a flight to Hawaii.
Maybe if I drove down to Texas and put on some scroungy clothes I could get a free ticket to the Bahamas….

dentarthurdent on August 4, 2014 at 1:05 PM

The One giveth with one hand and taketh away with the other. Time to fire up K Street.

vnvet on August 4, 2014 at 1:08 PM

The reason why conservatives and progressives can no longer inhabit the same nation:

Conservatives want to be left alone and share joy in others’ successes.

Progressives CANNOT tolerate the existence of people who are outside their control and get twisted pleasure from others’ misery.

ConstantineXI on August 4, 2014 at 1:02 PM

FIFY

UnstChem on August 4, 2014 at 1:10 PM

There is so much to comment on.

This comes from the one who complains when companies move overseas.

Complaining about how executives live comes from the man who is buying a BIG house in California.

What a hypocrite. Does anyone actually listen to what he says anymore?

COgirl on August 4, 2014 at 1:14 PM

Leftists think that businesses exist as welfare/entitlement/employment institutions.

They don’t understand the concept of maximizing utility. People are motivated to engage in activities that maximize their satisfaction. The most common way to do this is to create value and earn money since money is currently the most accepted store of value.

Stupid leftists. Misplaced incentives and misunderstood motivations.

freedomfirst on August 4, 2014 at 1:15 PM

Because complaining about The Regime would be racist…..RACIST!!!

viking01 on August 4, 2014 at 1:17 PM

Send them all to Puerto Rico and then grant it independence.

ConstantineXI

Works for me, though I’d prefer it if they just sent them back home. That would have been a shorter trip than to the Virgin Islands.

Must be nice – my son just paid $1000 for a flight to Hawaii.
Maybe if I drove down to Texas and put on some scroungy clothes I could get a free ticket to the Bahamas….

dentarthurdent

Worth a shot, lol.

xblade on August 4, 2014 at 1:21 PM

Meanwhile, the streets of Liberia are littered with the bodies of ebola victims.

http://www.breitbart.com/Big-Peace/2014/08/04/Protests-in-Ebola-hit-Liberia-as-bodies-pile-up

Death toll up to 887.

xblade on August 4, 2014 at 1:28 PM

What a folking idiot

halebyuca on August 4, 2014 at 1:38 PM

“Obama tells America’s CEOs to quit complaining …”

…so, once again, it’s “DO AS I SAY, NOT AS I DO.”

MicahStone on August 4, 2014 at 1:55 PM

“Thank you, Sir. May I have another?”

socalcon on August 4, 2014 at 2:05 PM

I suppose that Obama was pre-Tea when he called out the ExIm Bank as corporate welfare in 2008.

I suppose that Occupy were fellow travelers of Tea when they called for shutdown of ExIm Bank because it was inherently corrupt, rewarding well-connected state capitalists.

I suppose that every skinny jerk in a black balaclava smashing store windows in Seattle and elsewhere were proto-Tea when they have repeatedly attacked international trade generally and the ExIm Bank, along with the World Bank and IMF.

Trashing ExIm has been a staple of Lefty rhetoric for decades. That’s where you’ll find isolationism and protectionism. When was the last time Obama called them out.

Esaus Message on August 4, 2014 at 2:30 PM

Yeah, who are these whiny babies kidding?
Do they think they employ people and pay taxes supporting the government and so the very core of the USA?
The nerve of those capitalist pigs!

Tard on August 4, 2014 at 2:45 PM

Every time I hear Obama use the term “folks” it just sets my teeth to grinding.That is just as false as his claim to be a constitutional scholar.

Chowderhead123 on August 4, 2014 at 2:52 PM

Every time I hear Obama use the term “folks” it just sets my teeth to grinding.That is just as false as his claim to be a constitutional scholar.

Chowderhead123 on August 4, 2014 at 2:52 PM

RACIST!

UnstChem on August 4, 2014 at 2:56 PM

Why Obama be hatin’?

gwelf on August 4, 2014 at 12:36 PM

It’s what thin-skinned, petulant, mendacious, ideology-driven, narcisstic, sociopathic fascists do.

It’s also because when your political philosophy and campaigning is entirely based on divisive and corrosive identity politics, hate and contempt is all one really has.

Athos on August 4, 2014 at 3:21 PM

Community organizer is another way of saying rabble rouser, and Choomie is a dyed-in-the-wool ACORN.

As for houses in the Hamptons, he doesn’t think anybody but right-thinking people like him and Ned deserve to have them.

formwiz on August 4, 2014 at 3:27 PM

Ignorant, narcissistic, stupid, whiney dickwad. And that does’nt begin to cover his weaknesses.
I expect that most Hot Air commenters will be audited this year.

bobthm3 on August 4, 2014 at 3:29 PM

For years we produced our own goods and exported an abundance.

The tide gradually changes as American companies opened facilities closer to their customers, hence reducing the need to export goods to foreign countries.

Now it is so expensive to make things here those same foreign plants now manufacture excess and ship the goods into the US for sale.

The same is happening in financial services, software, engineering design, accounting and law… just to name a few.

That’s right O’Bamster, your forcing companies of all sizes to get the heck out of dodge, or at least expand their supply and delivery chains outside the US.

DUH

zdpl0a on August 4, 2014 at 4:01 PM

Feel free to keep your house in the Hamptons and your corporate jet, etcetera. I’m not concerned about how you’re living,” Obama said.

BULLS#IT. All those Hamptonites are PROGRESSIVES who raise MILLIONS for that turd. YOU’RE DAMNED WELL RIGHT HE CARES!

POTUS POS!

Pelosi Schmelosi on August 4, 2014 at 4:42 PM

“I would take the complaints of the corporate community with a grain of salt,” he continued. “They always complain about regulation. That’s their job.”

Says the guy who never had a real job in his life.

Seriously. Screw him.

evergreen on August 4, 2014 at 8:28 PM

Dear CEO’s:

There have been two proven ways to change laws. One involves the ballot box. The other involves the bullet box. Your money can buy either. The government has more money than you and is taking more of yours by the day. Thus, at some point in the future you will be unable to buy either.

Consider your future purchasing options accordingly.

LawfulGood on August 5, 2014 at 5:22 AM

Resist We Much:

“If you look at what’s happened over the last four or five years, the folks who don’t have a right to complain are the folks at the top,”

So sayeth the Complainer-in-Chief.

Beat me to it!

Olo_Burrows on August 5, 2014 at 9:35 PM