New Book Claims Obama Benefited Friends’ Investment Firms

Former President Barack Obama used his executive powers to attack industries to lower the value of certain companies, allowing his friends in the private sector to swoop in and buy them up at reduced prices, according to a new book by Peter Schweizer, Secret Empires: How Our Politicians Hide Corruption and Enrich Their Families and Friends.

The book, released Tuesday, said Obama and his administration would deem industries either destructive to the environment or exploitative for the financial and professional gain of his friends, including industries such as coal mining, offshore drilling, cash advance companies, and for-profit colleges.