Henry Waxman's latest show trial

Henry Waxman, whom Michelle Malkin has dubbed "the Witch Hunter of Capitol Hill" understands where his loyalty lies. If he were faithful to the principals of our founders then his loyalties would be to his constituents, his state and the republic, but of course there is ample evidence to the contrary. Appearances aside, Waxman is not a mere stooge to the future former president and his gross clique of radicals and sycophants. Where then do Waxman's loyalties lie?

This past week Mr. Waxman declared war on the CEOs of Caterpillar, John Deere, AT&T, Verizon and all others who dare to comply with GAAP . As Megan McArdle at Business Insider said.

Accounting basics: when a company experiences what accountants call "a material adverse impact" on its expected future earnings, and those changes affect an item that is already on the balance sheet, the company is required to record the negative impact-"to take the charge against earnings'-as soon as it knows that the charge is reasonably likely to occur.


The Democrats, however, seem to believe that Generally Accepted Accounting Principals are some sort of conspiracy against Obamacare, and all that is good and right in America.

The current attack on American business is nothing new for Waxman, he has been relentless in his assault on prosperity for most of his 18 terms in congress. Henry loves a good show trial and no-doubt dreams of a day when the Demmunist Party has such unchecked power that Amerika can be purged of those whom his comrades declare to be "enemies of the people."

Michelle Malkin provides us with some of Waxman's more recent camera muggings.

Last month, Waxman stacked the deck at the Toyota inquisition hearing with auto-industry-bashing Naderites. In 2007, he held court over the Valarie Plame show trial. And in February 2008, he wasted four hours on a nationally televised interrogation of baseball legend Roger Clemens and his trainer. Republicans called Waxman out on his Captain Queeg-ish vendetta against Clemens. The debacle was dubbed a "Roman Circus." After squandering public resources on congressional showboating over steroid use, Waxman himself confessed that he "didn't think it was a hearing that needed to be held."

Mr. Waxman's current vendetta indicates that his long love affair with the show trial as an instrument to promote social justice through intimidation, is as passionate as ever. The spring offensive against American business is more troubling than Waxman's past attacks because this current outrage represents a more overt assault on free speech. The CEOs who have been called before Waxman's tribunal are charged with disclosing the damaging effects of Obamacare by merely obeying federal regulations.

The current political climate fostered by the Obama regime is ideal for long time party hacks like Waxman. The final destruction of free enterprise requires the suppression of free speech. Although an open attack against the first amendment as applied to individuals is likely to fail, an aggressive attack against greedy corporations and their right of free speech could well garner enough populist support to achieve the desired ends of the party. Obama and his comrades did promise to find ways to undo the recent decision by SCOTUS in the Citizen's United case. By using the might of the federal government to intimidate businesses into silent compliance we are moved yet another step closer to the suppression of our individual right of free speech.

So where do Comrade Waxman's loyalties lie? Waxman has displayed his full allegiance to "the party," his loyalty to their cause transcends all else. Mr. Obama has Waxman's loyalty as the current figurehead of the party, nothing more and nothing less. After years of tireless effort in tearing down prosperity in America, Waxman and his comrades have succeeded in weakening our republic to the point at which they believe that they can openly challenge our most basic freedoms through threats and intimidation under the guise of federal authority. As predicted by former American communist party leader Benjamin Gitlow in 1948.

The communists will fight for freedom of speech in the United States because they do not rule the country. But once they get power the communists will never grant the right of free speech to others. (1)

Pay close attention to the coverage of this new show trial, it will be interesting to see if the party's fellow travelers in the MSM will take notice of the real story as it unfolds. Or will they continue to march in lock step, in blind obedience to the party?

(1) Benjamin Gitlow, The Whole Of Their Lives (Charles Scribner's Sons. 1948) p. 82.

Phil Boehmke

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