Well, the bloom appears to have fallen off the rose for Ron Bloom — special assistant to the president for manufacturing policy – and man who in the past has revealed a curious respect for communist leader Mao Tse-Tung. The former “car czar,“ and architect of the auto bailout who once said the ”free market is nonsense,” announced last Tuesday that he will be leaving the White House.
But buried in a story on Politico’s website about the departure is yet another seemingly veiled reference to Mao.
Bloom, who worked as an investment banker and then as a negotiator for the United Steelworkers union before entering a career in government, began his tenure with the Obama administration back in 2009 as an automotive senior adviser to Treasury Secretary Timothy Geithner.
Still, what Bloom might best be known for is his past comments about Mao and communist China.
During a keynote speech in 2008 at the 6th Annual Distressed Investing Forum at the Union League Club, Bloom spoke about aunion’s role in bankruptcy and restructuring, saying he “agreed” with Mao that “political power comes largely from the barrel of a gun.”
“Generally speaking, we get the joke,” Bloom started. “We know that the free market is nonsense. We know that the whole point is to game the system, to beat the market or at least find someone who will pay you a lot of money, ’cause they’re convinced that there is a free lunch.”
“We know this is largely about power, that it’s an adults only no limit game. We kind of agree with Mao that political power comes largely from the barrel of a gun. And we get it that if you want a friend you should get a dog.”
Tiffany Gabbay
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