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Obama's Big Sellout : Rolling Stone (http://www.rollingstone.com/politics/story/31234647/obamas_big_sellout/print - broken link)
Now before you Dems and Obama fans get riled up..this is about something that Obama did with his economic team. Right after elections he scrapped them and put in their place banksters. Yes banksters from the likes of Citi and Goldman Sachs. This is not a bash Obama article..the Rolling Stone doesn't write like that.
It's an interesting, twisting story which is not bashing Obama per say but wondering if the banksters just won over who was perceived to be an outsider who was going to clean up the system ?
In summary, this article just goes to show that the banksters are still in control of both the WH and Congress and are still calling the shots.
What no takers ? Bush had his capitalist buddies and now Obama has his.
GS and Citi entrenched in the WH. And the shuffling of appointments happened all very quietly right after elections last year.
What no takers ? Bush had his capitalist buddies and now Obama has his.
GS and Citi entrenched in the WH. And the shuffling of appointments happened all very quietly right after elections last year.
Patience, HT, give 'em some time to come up with some good counter-arguments.
Obama's Big Sellout : Rolling Stone (http://www.rollingstone.com/politics/story/31234647/obamas_big_sellout/print - broken link)
Now before you Dems and Obama fans get riled up..this is about something that Obama did with his economic team. Right after elections he scrapped them and put in their place banksters. Yes banksters from the likes of Citi and Goldman Sachs. This is not a bash Obama article..the Rolling Stone doesn't write like that.
It's an interesting, twisting story which is not bashing Obama per say but wondering if the banksters just won over who was perceived to be an outsider who was going to clean up the system ?
In summary, this article just goes to show that the banksters are still in control of both the WH and Congress and are still calling the shots.
Somebody beat you to this....
My take is on the other thread, but the funniest part, in my opinion, is this --
I approach a woman named Pat Defillipis from Toms River, New Jersey, and ask her why she's here. "To protest health care," she answers. "And then amnesty. You know, immigration amnesty."
I ask her if she's aware that there's a big hearing going on in the House today, where Barney Frank's committee is marking up a bill to reform the financial regulatory system. She recognizes Frank's name, wincing, but the rest of my question leaves her staring at me like I'm an alien.
"Do you care at all about economic regulation?" I ask. "There was sort of a big economic collapse last year. Do you have any ideas about how that whole deal should be fixed?"
"We got to slow down on spending," she says. "We can't afford it."
"But what do we do about the rules governing Wall Street . . ."
She walks away. She doesn't give a ****. People like Pat aren't aware of it, but they're the best friends Obama has. They hate him, sure, but they don't hate him for any reasons that make sense. When it comes down to it, most of them hate the president for all the usual reasons they hate "liberals" — because he uses big words, doesn't believe in hell and doesn't flip out at the sight of gay people holding hands. Additionally, of course, he's black, and wasn't born in America, and is married to a woman who secretly hates our country.
These are the kinds of voters whom Obama's gang of Wall Street advisers is counting on: idiots. People whose votes depend not on whether the party in power delivers them jobs or protects them from economic villains, but on what cultural markers the candidate flashes on TV. Finance reform has become to Obama what Iraq War coffins were to Bush: something to be tucked safely out of sight
Too bad that on THIS forum, it won't get much traction. It's an article from a medium that is considered left, but not a glowing representation of the current administration.
I'm not an Obama basher, but I do not agree with many of his policies. I guess that makes me some kind of hater, even though I'm not. I didn't like Bush either.
here is taibbi's latest piece on the timeline of obama's big sellout from the rolling stone:
Obama's Big Sellout : Rolling Stone (http://www.rollingstone.com/politics/story/31234647/obamas_big_sellout/print - broken link)
Now here's where it gets really interesting. It's three weeks after the election. You have a lame-duck president in George W. Bush — still nominally in charge, but in reality already halfway to the golf-and-O'Doul's portion of his career and more than happy to vacate the scene. Left to deal with the still-reeling economy are lame-duck Treasury Secretary Henry Paulson, a former head of Goldman Sachs, and New York Fed chief Timothy Geithner, who served under Bob Rubin in the Clinton White House. Running Obama's economic team are a still-employed Citigroup executive and the son of another Citigroup executive, who himself joined Obama's transition team that same month.
So on November 23rd, 2008, a deal is announced in which the government will bail out Rubin's messes at Citigroup with a massive buffet of taxpayer-funded cash and guarantees. It is a terrible deal for the government, almost universally panned by all serious economists, an outrage to anyone who pays taxes. Under the deal, the bank gets $20 billion in cash, on top of the $25 billion it had already received just weeks before as part of the Troubled Asset Relief Program. But that's just the appetizer. The government also agrees to charge taxpayers for up to $277 billion in losses on troubled Citi assets, many of them those toxic CDOs that Rubin had pushed Citi to invest in. No Citi executives are replaced, and few restrictions are placed on their compensation. It's the sweetheart deal of the century, putting generations of working-stiff taxpayers on the hook to pay off Bob Rubin's ****-up-rich tenure at Citi. "If you had any doubts at all about the primacy of Wall Street over Main Street," former labor secretary Robert Reich declares when the bailout is announced, "your doubts should be laid to rest."
Geithner, in other words, is hired to head the U.S. Treasury by an executive from Citigroup — Michael Froman — before the ink is even dry on a massive government giveaway to Citigroup that Geithner himself was instrumental in delivering. In the annals of brazen political swindles, this one has to go in the all-time ****-the-Optics Hall of Fame.
this is a very interesting article, with the rest of it being a timeline to all the deals and swindles since then.
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