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Monday, November 6, 2023

No Fourth Term For Barack Obama

 Barack Obama has been sucking up the headlines again for what he’s been saying and doing. The significance of his words and deeds is not actually limited to the particular issues. It’s that they indicate what many have dimly suspected and many others have assumed: he is still running the show. The Biden Administration was his third term—3.5, if you consider how he was the shadowy figure behind so much of the government resistance to President Trump.

It’s good that this truth is being made known. Voters will have to look at Joe Biden—or any Democratic nominee at this point—and ask if they are getting more of the “fundamental transformation” that Barack Obama promised would fill out his promises of “hope and change.” Yesterday, we marked fifteen years since the first black president’s historic victory, yet we know that though America was changed, increased hope played little part in this transformation. We can’t give Obama another term.  

Think I’m exaggerating? Left-wing journalists, noting that Donald Trump has said this, call it  “a stupid idea.”  Yet NBC News reported earlier this week that it was Barack Obama who had been one of the main actors in formulating the policy that went into the Biden executive order on Artificial Intelligence (AI). This executive order has worried many onlookers because its language hints at the possibility of government clampdowns on speech and the enforcement of critical race theory. Assistant Commerce Secretary for Communications and Information Alan Davidson earlier this year said that the goal of AI regulation would include stopping “misinformation, disinformation, or other misleading content.” And in the NBC News report we read that part of Obama’s “approach was to urge industry leaders to consider risks beyond national security, including information integrity, bias and discrimination.”

At the end of the week, a snippet of an interview with the Pod Save America podcast was released (the full interview will come out on Tuesday) in which Obama sonorously intoned how though Hamas’s actions were “horrific,” nonetheless “the occupation and what’s happening to Palestinians” are “unbearable.” Urging Americans to see the “complexity” in the situation, he spoke about how all, including himself, are “complicit” in this and spoke about the difficult way forward.

It was classic Obama. Still speaking in the NPR voice that made his New Left radicalism sound calming and moderate, he is always capable of sounding profound and intellectual while not actually revealing what he’s doing. But let’s give him credit with that bit about being “complicit.” If he was trying to dissolve his own responsibility for the horrific actions of the last month by making it about “we all,” he was at least willing to take a little on himself. Boy, does he bear responsibility.

 It was the terrible Iran deal done while he was in office—$1.4 billion handed over—in the hopes of balancing the Middle East that is now coming back to haunt him. It was the kid gloves he used with the Palestinians, releasing $221 million at the end of his presidency to the Palestinian Authority even though there was no evidence they had reformed the corruption, incitement of violence, and payment of terrorists that had caused a group in Congress to hold up the money. It was his own penchant for using bombs all over the Middle East. It makes one want to respond to him, using his own particular phraseology, “You built this!”

The reality is that all of the blunders made in his own presidency have been repeated over the last three years of this administration. Karl Marx famously corrected the philosopher Hegel’s assertion that all historical personages and events happen twice: they occur, Marx said, “first as tragedy, then as farce.” This third term of Obama known as the Biden Administration is certainly farcical, but has retained and deepened the tragic elements in ways too many to count.  

            That it is Obama’s term is not to be doubted. An August interview in Tablet with historian David Garrow, who wrote an extensive biography of Obama’s early years titled Rising Star, made a lot of news for its revelation that the future president had written to one girlfriend about his homosexual fantasies. Yet there was much more interesting and relevant in the book—and the interview—to those worried about this country’s present. In his preface to the interview Tablet literary editor David Samuels notes that Garrow’s book had dissected a number of myths, none more so than that “Obama was no longer concerned with power or involved with power.”

No, Obama’s actions after leaving office had been clear for those with eyes to see. The Obamas did not leave Washington. “Instead, they bought a large brick mansion in the center of Washington’s Kalorama neighborhood—violating a norm governing the transfer of presidential power which has been breached only once in post-Civil War American history, by Woodrow Wilson, who couldn’t physically be moved after suffering a series of debilitating strokes.” And though this was ostensibly because their daughter Sasha had not graduated, her graduation brought no change in their home address. As Samuels puts it, by this point nobody could think that their decision had been “personal.” “To an extent that has never been meaningfully reported on,” he continues, “the Obamas served as both the symbolic and practical heads of the Democratic Party shadow government that ‘resisted’ Trump—another phenomenon that defied prior norms.”

Everyone, Samuels notes, understood that political operatives came in and out of the Obama house throughout both Trump’s and Biden’s terms. That Joe Biden has not seemed capable of rational thought for his entire presidency has led many to ask who exactly does make decisions at 1600 Pennsylvania Avenue. Upon a visit to the White House in 2022, Obama was swarmed at the event while a lonely and confused Joe Biden seemed to be wandering around looking for someone to talk to. This made Obama’s “joke,” in which he addressed Biden from the podium as “Vice President” all the more telling. Samuels quotes Obama himself, who once told Stephen Colbert, “I used to say if I can make an arrangement where I had a stand-in or front man or front woman, and they had an earpiece in, and I was just in my basement in my sweats looking through the stuff, and I could sort of deliver the lines while someone was doing all the talking and ceremony, I’d be fine with that because I found the work fascinating.”

What is fascinating in the interview that follows is that Garrow, who is completely honest about the self-absorption and weakness of Obama, makes no attempt to deny this reality of what Samuels calls “a new milieu…consisting of party operatives, the people in the FBI and the CIA who are carrying out White House policy, and the press.” Samuels’ description of this situation in which Obama people seem to be making policy is, he says, “Spooky, because it is happening outside the constitutional framework of the U.S. government, and yet somehow it’s been placed off the list of permitted subjects to report on.”  In response, Garrow notes that the Steele document supposedly giving intelligence about Donald Trump’s Russian connections “was just complete crap. It was bad corporate intelligence, even. It was nonsensical.” A perfect way of saying that Samuels has it exactly right.

What we’re dealing with is indeed spooky. For many, especially those influenced by the Claremont Institute, our country has long been acting outside the constitutional framework insofar as the modern administrative state is an unelected and unaccountable fourth branch of government. That power does not actually seem to dwell where constitutional authority puts it is a serious problem, for unseen power cannot be easily held to account or checked. That this unseen power has been revealed to have been controlling intelligence agencies, law enforcement, and who knows what other aspects of our government is unnerving. It was under Barack Obama’s official presidency that spying on American citizens became normalized. It was under his shadow presidency that Big Tech’s era of censorship reached its peak.

That this shadowy operation seems to be coming out of the shadows may well be providential. Our system was meant to put power in the American people. It is only by figuring out how things have been working that this American people can actually be asked what they want. Is it yet more tragic farce emanating from the policy decisions of a man who does not even hold office? If so, Americans will have to turn out Joe Biden, who himself sometimes confusedly says Barack Obama is the President. And anyone who beats him will have to make it the first priority to make sure that the chief of our executive branch actually is where the buck stops. Three full terms of Barack Obama (and more) is enough.  

https://amac.us/newsline/elections/no-fourth-term-for-barack-obama/

Sorry, Obama: 'We' Aren't Complicit. It's You Who Has Blood on Your Hands

By Liel Leibovitz

Editor at large, Tablet Magazine

In 1953, the Swiss novelist Max Frisch published a play called The Arsonists. It's a pitch dark comedy about a small town ravaged by a group of maniacs disguised as traveling salesmen, who sweet-talk their way into people's homes and then set them on fire. Its protagonist is a dolt called Biedermann—bieder being German for honest, respectable, and upright. He's aware of the danger, and yet, when the arsonists knock, he lets them in. The tragedy, Frisch argues, is that he almost has no other choice: The arsonists are such smooth talkers that it's easy, when listening to them, to ignore the large drums of kerosene and the matches they're holding in their hands.

I thought of The Arsonists this week when I heard snippets of a podcast interview featuring former president Barack Obama on the Middle East. "Nobody's hands are clean," Obama said. "All of us are complicit."

Nah, man. Not all of us are complicit. It's just you.

It's you, because you're the one who gave that stentorian speech about red lines in Syria and then sat by and did nothing as those red lines were crossed and Assad continued to slaughter his own people, allowing the Iranians and the Russians to creep in and fill the vacuum left by your devastating lack of leadership.

It's you, because you're the one who came up with the idea of empowering Iran, the world's premiere exporter of terrorism, Holocaust denial, and chaos, all the while telling the American people you were merely trying to stop Teheran from getting a nuclear bomb. Billions of dollars and thousands of dead later, we can all see how well this idea—which you, with the eloquence only a professor could muster, called "regional integration"—is working.

It's you, because you're the one who delivered a parting gift to the region, ending your final term as president by reversing four decades of American bipartisan support of Israel and abstaining from a U.N. vote condemning Israeli settlements, while funneling $400 million in annual payments to the despotic Palestinian Authority, which then promptly used this money to fund its pay-for-slay program, doling out large cash payments to any Palestinian who murdered Jews.

So, please, Mr. President: Spare us your opinions.

Lest anyone is tempted to think that Obama's words and actions as president are somehow par for the course, just the muddled messaging that American presidents are forced to deliver when speaking about very complicated questions like Middle East politics, consider his successors and predecessors alike.

Calling Hamas "cold-blooded killers," former president George W. Bush left little room for ambiguity in a recent interview. "My view is: One side is guilty," he said. "And it's not Israel."

Bill Clinton? Just as clear: "Now is a time for the world to rally against terrorism and support Israeli democracy," he said on social media two days after Hamas's horrific attacks. "I stand with the government of Israel and all Israelis."

President Joe Biden—once Obama's vice president—delivered both a rousing speech in defense of Israel and, more importantly, the military might that may be needed to fight what is very clearly a much larger conflict than merely a skirmish between Israel and a small terrorist organization in the Gaza Strip.

Which pretty much makes Obama an outlier, the lone voice making very different arguments than those advanced by his Democrat or Republican peers.

It hardly takes a political scientist—or a good therapist—to understand why. Study the 44th president's record, to say nothing of his extensive writing and speeches, and a clear ideology emerges, the sort of gauzy anti-Imperialist fantasy so trendy in graduate seminar rooms that eschews American power and dreams that the wretched of the earth will rise up to the full measure of their native glory.

Only a mind gripped by the erotic pull of theory would look at the 2009 demonstrations in Iran—the so-called Green Revolution—and decide that America ought to side not with the huddled masses yearning to breathe free but with their jailers, the murderous mullahs who beat women to death for not wearing proper head coverings, execute gays, and kidnap Americans for ransom like common criminals.

It would be so tempting to tune Obama out, to argue that there's no reason to listen to yet another actor who'd played his part and then stepped down from history's brightly-lit stage. But Obama, alas, cannot be ignored, because the Democrat Party he'd left behind is still very much his creation and his machinery to control.

It's no coincidence that Obama is the first person since Woodrow Wilson to remain in Washington, D.C., and the 28th president didn't leave only because he had suffered a stroke and wasn't mobile. And it's a very loosely guarded secret that most of the people in the current administration are much more attuned to Obama's wishes than to those of the Octogenarian Commander-in-Chief.

But the Obama interview isn't all bad. Now that college campuses have spiraled into orgies of Jew-hatred; now that Hamas supporters set fire to Brooklyn blocks, turning our neighborhoods into American banlieues; and now that the same Palestinian leaders Obama so fiercely championed appear uninterested in anything but shedding the blood of innocent Israelis, the former president's twaddle strikes a very different chord.

Maybe we can finally see Obama for what he truly is: The man who set the world on fire.

https://www.newsweek.com/sorry-obama-we-arent-complicit-its-you-who-has-blood-your-hands-opinion-1841012

'US Banking System Is Still Vulnerable, NY Fed Blog Says'

'

  • Sector is less vulnerable than it was ahead of 2008 crisis
  • Losses in securities portfolios risk weakening capital levels'

 

While the US banking sector is stable, growing vulnerabilities leave at least some institutions under a near-term threat of funding pressure and capital shortfalls, according to Federal Reserve Bank of New York staff.

The risks to the system are rising, albeit modestly, and those weaknesses are still below the levels that preceded the global financial crisis, according to Matteo Crosignani, Thomas Eisenbach and economist Fulvia Fringuellotti, in a post on the Liberty Street Economics blog Monday. That’s in large part because the biggest banks are less exposed to capital shortfalls and run-on-the-bank risks, their analysis of models through the second quarter of 2023 showed.

https://www.bloomberg.com/news/articles/2023-11-06/the-us-banking-system-is-still-vulnerable-ny-fed-blog-says

Point Biopharma stock quickly gains as big holder comes out against Eli Lilly deal

 Large holder opposes $1.4B sale of Point Biopharma to Eli Lilly as it is not in the best interest of shareholders

https://seekingalpha.com/news/4031202-point-biopharma-quickly-gains-as-big-holder-comes-out-against-eli-lilly-deal

Cigna explores shedding Medicare Advantage business

 U.S. health insurer Cigna Group is exploring the sale of its Medicare Advantage business, which provides additional benefits to those covered by federal health insurance, a move that would mark a reversal of its expansion in the sector, according to people familiar with the matter.

Cigna, which got into the Medicare Advantage business with its $3.8 billion acquisition of HealthSpring in 2011, would be backing away at a time the U.S. government is tightening its purse strings in reimbursing health insurers for their services should it go through with the move.

Cigna is working with an investment bank to evaluate options for its Medicare Advantage business, which could fetch several billions of dollars in a potential divestment, the sources said.

The discussions with interested parties, including other companies and private equity firms, are at an early stage and Cigna may decide to keep the business, the sources added, requesting anonymity because the matter is confidential.

A Cigna spokesperson said the company does not comment "on rumors or speculation" as a matter of policy. Cigna shares rose as much as 1% to $314.06 after Reuters reported the talks, but gave back some of those gains and were up about 0.4% in midday trading.

Cigna generated 14% of its $135.7 billion revenue in 2022 from the Medicare Advantage business, which includes policies that supplement benefits provided by federal insurance as well as a prescription drug business. Those eligible must already be covered by Medicare, a government program that mainly applies to Americans age 65 and over, or those with some disabilities.

The Bloomfield, Connecticut-based company said last week on its quarterly earnings call that it has expanded the geographic footprint of the business from 20% of those eligible for Medicare Advantage coverage in 2019 to more than 40%. It also disclosed its customer base had increased 13% year-to-date.

Kiora Meaningful Vision Improvements in Blind Patients with Retinitis Pigmentosa

 Topline Phase I/II First-in-Human Results Presented at AAO 2023

Significant improvement in visual field, in concordance with trended improvements in visual acuity and functional vision

Functional MRI demonstrates increased brain activity in visual cortex

Novel small molecule photoswitch is safe and tolerable

Company presentation available on IR website (ir.kiorapharma.com)

https://www.biospace.com/article/releases/aao-late-breaking-kiora-s-small-molecule-photoswitch-demonstrates-meaningful-vision-improvements-in-blind-patients-with-retinitis-pigmentosa/

NeuroSense Winding Up Phase 2b ALS Trial: Topline Clinical Efficacy Results Expected December 2023

 

  • Clinical efficacy results (secondary endpoints) and safety results (primary endpoints) expected December 2023
  • Biogen collaboration biomarker results expected Q1 2024
  • Primary biomarker endpoints to be reported H1 2024