WASHINGTON, April 17, 2015 — “Ogres are like onions,” said Shrek, the bright green animated swamp monster. “Onions have layers. Ogres have layers.” And the same could be said of Dreamworks Animation CEO Jeffrey Katzenberg. Producing popular animated feature films for children is only one of the billionaire’s many facets. He is a political kingmaker, financial bagman and man of international intrigue—with the last trait piquing the interest of the Wall Street gumshoes over at the Securities and Exchange Commission.
Democratic presidential hopeful Hillary Clinton was more than happy when Katzenberg called her in 2013 to say he’d throw his considerable political and financial weight behind her if she ran in 2016.
In 2008, Katzenberg was among Hollywood’s Obama faction. The Hollywood Reporter said Katzenberg was a major contributor to super PAC Priorities USA, which raised a whopping $79 million for President Obama’s 2012 re-election campaign.
“The center of power in the Democratic Party in terms of money really has moved to Katzenberg,” a Democratic strategist recently told the Hollywood Reporter, “The most important person you should get is Jeffrey. He should be her [Hillary Clinton’s] No. 1 priority.”
And, he is. So, what’s in it for Katzenberg?
The CEO was among the thousands of investors scammed by the king of Ponzi schemes, Bernie Madoff. The Los Angeles Times said the studio head lost $20 million in the swindle that ultimately cost its victims $50 billion.
And in 2014, Katzenberg saw his income “drop” 53 percent, from $13.5 million to a mere $6.4 million. Dwindling profits at DreamWorks Animation (down 37 percent) forced Katzenberg to lay off 500 employees earlier this year.
The Sunlight Foundation, a political watchdog organization, says that, despite Dreamworks Animation’s heavy involvement in political fundraising, it “has never registered to lobby the federal government, but the largesse of its CEO [Katzenberg] guaranteed access.”
The aforementioned access is impressive, with Katzenberg having landed a White House invitation to a state dinner and a seat right next to China’s President Xi Jinjing.
And that brings us back to the Securities and Exchange Commission. Until very recently, China’s 1.4 billion people were allowed by its totalitarian government to view only 20 foreign films per year. The SEC is investigating whether China’s sudden about-face on its draconian restrictions was the result of well-placed tokens of gratitude (bribes), a violation of the Foreign Corrupt Practices Act.
Oh, and DreamWorks Animation CEO Jeffrey Katzenberg recently announced the creation of Oriental DreamWorks in partnership with China’s state-owned Shanghai Media Group.
According to the financial education website Motley Fool, “DreamWorks is making a big bet on its growth in China, and if it goes well, this could be a major boost for the struggling company… PricewaterhouseCoopers projects a value for the industry of $6.49 billion in 2017, more than double its $3.26 billion value in 2012.” [Editor’s note: While $6.49 is not more than double $3.26, this accurately reflects the quotation from Motley Fool]
“If America were able openly to acknowledge that its global power is in decline, it would be much easier to have a rational debate about what to do about it,” wrote Gideon Rachman, foreign affairs correspondent, in Britain’s Financial Times. “Denial is not a strategy.”
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That was back in 2011.
That same year, billionaire leftist loon, George Soros, told the Financial Times, “You really need to bring China into the creation of a new world order… financial world order… The system we have now has actually broken down… we haven’t quite recognized it. So, you need to create a new one and this is the time to do it… a decline in the value of the dollar is necessary in order to compensate for the fact that the U.S. economy will remain rather weak, will be a drag on the global economy. China will emerge as the [economic] mortar replacing the U.S. consumer.”
You see, Katzenberg is a visionary. He knows a majority of Americans have chosen wealth redistribution over economic growth. And as more of the economy is subsumed by government regulators (Obamacare placed one-sixth of our economy in the hands of the guys running the U.S. Post Office), income, not to mention disposable income, will continue to decline.
Jeffery Katzenberg got on the Hillary bandwagon early. Currently, he is high-pressuring Hollywood elites to pony up cash for the latest Democratic Party ogre whose unspoken but clear purpose is to manage America’s decline.