The name Marty Nesbitt didn’t come up much during Obama’s eight years as president but apparently he’s his best friend. In fact, Nebitt now runs Obama’s foundation.
According to a new report from PJ Media, Nesbitt profited from regulations enacted by Obama when he was president.
Take a look at this:
Obama Regs on For-Profit Colleges, Finance, Railroads, and Airlines All Profited His Best Friend
President Barack Obama led regulatory attacks on numerous industries during his tenure at the White House. In many cases, his regulations — ostensibly to protect the public good — tanked the stock of various companies, enabling his close friends to swoop in and buy them for pennies on the dollar. Perhaps no figure best represents this “smash and grab” technique better than Marty Nesbitt, now head of the Obama Foundation.
Nesbitt first met Obama back in the 1980s, after playing basketball with Michelle Obama’s brother, Craig Robinson, at Princeton University. While at business school in Chicago, he met Obama playing basketball. When Obama ran for Congress in 2000, Nesbitt served as campaign chairman. He also fundraised for Obama’s state Senate and U.S. Senate campaigns, and served as his campaign chairman in 2008…
“Obama and his administration would attack industries with government power, which led to substantially lower valuations for these companies. Nesbitt and Vistria, or others close to Obama, could then acquire those assets for pennies on the dollar,” Schweizer explains. Nesbitt followed this pattern in at least four industries targeted by Obama.
There’s a term for that. It’s called crony capitalism.