Barack Obama Is A Venture Capitalist, Too...He's Just A Shitty One...

...and while the president does risk investor's money like his private-sector counterparts, he extorts his from the unwilling at the point of a gun, while the private side only deals with dollars offered voluntarily.    And of course, if a Wall Street (or Silicon Valley) venture capitalist engaged in the type of cronyism that is Barack Obama's stock in trade, he or she would be hanging from a street post as the Occupiers danced below.

But quite simply, I wanted to point out -  as Obama smears Mitt Romney and Bain Capital -  how our president has done with perhaps his biggest investment as CEO of the USA:  The purchase, more or less, of General Motors by the government.

How's that working out?

The blue line is the Dow Jones Industrial average, barely above sea level.  The grey line, scraping the depths of the chart, is GM's stock price.  Quite a dip from the $33- IPO of November 2012, no?  And don't forget:

The stock price will need to rise by 47 percent to $48.58 for the U.S. government to break even on its follow-on stock sales.


How likely is that?  Well, the Chevy Malibu was going to be the car that would save GM.  Fortune has the story; title says it all...

The most disliked car of the year (so far)

...while they insinuate that a compliant media pushed the car for political purposes....

You think?  The New York Times gave it the ObamaCare treatment:

Ezra Dyer took pains to explain away the Eco's design shortcomings...writing that "I suspect that I'll enjoy the other Malibus" when they are launched later in the year...


That self-delusion might fly if you're assuming you'll be dead by the time Barack's medical bills come due, but when the base model of the Malibu starts at $26K, well....

If you don't like Government Motors, I doubt you'll like Government Health Care.  And I don't think you'd buy the latter from the man who gave you the former.  Most likely, you'd fire his sorry ass and hire someone who you thought would do a better job with it.

Fortunately, our current CEO's contract expires this November. If we are going to have a VC in the WH, at least let's get a good one...