Hanson: Paterno, Cain, Blue Wall Street, and illegal immigration

Victor Davis Hanson is at it again. Commenting first on Joe Paterno and Penn State, then on Herman Cain, he saves his best for "Blue Wall Street" and Barack Obama:

We live in an age where the biggest recipient of Goldman Sachs and BP cash, indeed the most successful Wall Street fundraiser in presidential history, who alone renounced public financing of presidential general election campaigns, can himself politick as an anti-Wall Street, anti-corporate jet, anti-“millionaires and billionaires” man of the people. What does Barack Obama do when he meets his own targets at the back nine on Martha’s Vineyard? Smile and say, “Nothing personal,” as he invites them over to a $50,000 a plate fundraiser?

More:

The charge that many financial institutions are amoral may be true, but the charge that they are logical reflections of conservative greed is often a lie. Indeed, Wall Street is more deeply embedded within the Ivy League, and within the New York-Washington liberal nexus, than among the sorts who show up at a Tea Party rally. Exactly what financial brilliance earned Jamie Gorelick, a Clinton apparatchik, a $26 million take at Fannie Mae, as it imploded and nearly wrecked the country? Did she give back to the Fed any of her lucre? What sort of populist was a Sen. Chris Dodd (of Dodd-Frank reform fame) who used his office for low-interest personal loans? How in the world did Rahm Emanuel end up making $16 million as a “banker”—what financial genius had he previously shown, what Harvard MBA did he earn? How did Barney Frank go from a demagogue demanding no-background loans for the supposedly underprivileged overnight to a concerned legislator pontificating, after the fall, that renting for some might be preferable?

So until I see posters of a Gorelick or Rains in Oakland, I don’t put much stock in the Occupy protests.

Hanson finishes this week's superb essay by focusing on illegal immigration:

“Illegal immigration” is not about illegal immigration. I would have thought the issue was only about poverty, until realizing that $40-50 billion a year leave the U.S. in remittances to Latin America, in many cases from those who use American subsidies to free up cash to send home. It is not quite about moral justice, given that the U.S. is in near recession with millions of citizens out of work and whose earning power in the Southwest was eroded by cheaper workers here illegally. Nor is Mexico innocent, but by design seeks to export its own impoverished to win remittances, ease the burden of paying for social services, and build an expatriate community more sympathetic to Mexico the longer and farther it is away from it.

Read the whole thing here: http://pjmedia.com/victordavishanson/from-herman-cain-to-blue-wall-street/?singlepage=true