Throughout the US presidential campaign, many were worried that a Barack Obama presidency would spell trouble for Israel. Obama surrogates continuously denied the claim. Well if the first 7 days of his presidency are any indication, Israel had better be prepared to deal with tremendous pressure from Washington.

As we documented here last week, the first leader that Obama called was Palestinian Authority head Abbas. Today, the first TV interview he gave as president was to Arabic cable TV network, Al-Arabiya. An now Bloomberg is reporting about a huge potential conflict of interest between, Obama, Vice President Joe Biden and Secretary of State Hillary Clinton and new special mid-east envoy George Mitchell.

According to the Bloomberg report:” George Mitchell, President Barack Obama’s special Middle East troubleshooter, was chairman of a law firm that was paid about $8 million representing Dubai’s ruler in connection with a child-trafficking lawsuit. The DLA Piper law firm did legal and lobbying work on the case, which alleged that Dubai’s Sheikh Mohammed bin Rashid al- Maktoum and another official used children kidnapped from other countries to ride as jockeys in camel races.”

The report continues: “Mitchell’s firm had extensive lobbying clients and offices in the Middle East ranging from the leader of Dubai to a Kuwait construction firm contracting in Iraq. The firm also has offices in Egypt, Oman, Qatar and Abu Dhabi and has an affiliation with a law firm in Riyadh, Saudi Arabia. Mitchell traveled to Dubai and spoke to the press there about the issue.”

How can he be ‘objective’ when he has such clear conflicts of interest? What happened to Obama’s new edict about lobbying?

It looks like Obama is bending over backwards to placate enemies of both the US and Israel. This foreign policy strategy, has the potential to cause much more harm then good.

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So now we have Sen. Biden on the stump saying that it’s patriotic for people earning over $250,000 to pay more taxes. No need to run out and buy an American flag, (oh I forgot you guys threw yours out after the convention), rather just write a check to Uncle Sam, and you’ll have that 4th of July feeling all the time. Well why does sticking it once again to the taxpayer equal patriotism, Senator? Hundreds of billions of dollars in bailouts isn’t enough for you? You need to stick us with a higher tax bill?

Gimme a break. You want patriotism, I have a great idea. Why don’t you go to your economic advisor, Franklin Raines, and ask him to return the hundreds of millions of dollars he ‘earned’ while he drove Fannie Mae into the ground. how can someone who earns approximately $150,000 in a government position end up making over $100 million? And get thrown out for mismanagement?

His money certainly wasn’t earned based on his masterful performance, so the question is how did he make it? Sen. Biden, i won’t even think of opening up my checkbook in the name of ‘patriotism’ until your economic guru comes clean and returns his fortune to its’ rightful owner, the American taxpayer.

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Aaron Katsman is Managing Editor of the Israel Opportunity Investor newsletter. He is lead portfolio manager for the Israel Growth Portfolio and Managing Director of America Israel Investment Associates, LLC. For more information, go to www.israelnewsletter.com or call 1-888-327-6179, or email aaron@profile-financial.com.

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With the hedge fund industry facing more scrutiny than ever before it’s quite amazing that Hunter Biden’s sour hedge fund deal, where he is accused of defrauding a former business partner and an investor of millions of dollars, has barely been mentioned in the press. After all he is the son of Democratic VP candidate Joe Biden.( Could that be the reason?)

According to a story in the Washington Post: “A lawsuit filed by their former partner Anthony Lotito Jr. asserts in court papers that the deal was crafted to get Hunter Biden out of lobbying because his father was concerned about the impact it would have on his bid for the White House. Biden was running for the Democratic nomination at the time the suit was filed.” The article continues, “Hunter Biden was made president with an annual salary of $1.2 million, despite his inexperience in the hedge fund industry.”

Wow! So we have the son of a Senator, who at that time was considering a presidential run, allegedly compelled to give up his lucrative lobbying job, to be made president of a hedge fund with a salary over one million bucks a year. Giddy up. And then he gets accused of defrauding investors. The media has been filled with reports on investment deals gone bad, hedge fund managers flying the coop, and others facing scrutiny for losing investors most if not all of their money. Yet the Hunter Biden story doesn’t get picked up? Sort of fishy isn’t it?

Sounds juicy. At least as interesting as the pregnancy of a 17 year old girl from Alaska.

Please see our Disclaimer HERE.

Aaron Katsman is Managing Editor of the Israel Opportunity Investor newsletter. He is lead portfolio manager for the Israel Growth Portfolio and Managing Director of America Israel Investment Associates, LLC. For more information, go to www.israelnewsletter.com or call 1-888-327-6179, or email aaron@profile-financial.com.

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