Obama's Big Sellout

[swgprop]

The president has packed his economic team with Wall Street insiders intent on turning the bailout into an all-out giveaway

The irony of Bob Rubin: He's an unapologetic arch-capitalist demagogue whose very career is proof that a free-market meritocracy is a myth. Much like Alan Greenspan, a staggeringly incompetent economic forecaster who was worshipped by four decades of politicians because he once dated Barbara Walters, Rubin has been held in awe by the American political elite for nearly 20 years despite having fucked up virtually every project he ever got his hands on. He went from running Goldman Sachs (1990-1992) to the Clinton White House (1993-1999) to Citigroup (1999-2009), leaving behind a trail of historic gaffes that somehow boosted his stature every step of the way.

Classic Taibbi: Read it here.

[rabot10]

Re: Obama's Big Sellout

The president has packed his economic team with Wall Street insiders intent on turning the bailout into an all-out giveaway

Classic Taibbi: Read it here.

OMG sad but true. I have only hope for my children. Any way to change things? If so I'm in.

[swgprop]

Re: Obama's Big Sellout

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 fuck. 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.

Man, how true. Now back to American Idol .....

[Chomsky]

Re: Obama's Big Sellout

Thanks. Taibbi is simply ******* awesome.

[raja]

Re: Obama's Big Sellout

OMG sad but true. I have only hope for my children. Any way to change things? If so I'm in.

Hound your Congresspeople.
Don't give your money to Big Banks.
Vote out all incumbents.
Educate everyone you run into to do the same.

[raja]

Re: Obama's Big Sellout

The president has packed his economic team with Wall Street insiders intent on turning the bailout into an all-out giveaway
Classic Taibbi: Read it here.

Thanks, swgrprop.

This is the best expose of financial crime that I have ever read !!!!

I immediately emailed the entire article to all my contacts, with the following heading:

If you want to learn exactly why you and everybody you know is going to experience a significant downgrading in your standard of living, read this article.

Unfortunately, this bleak future is now unavoidable.
However, we might be able to do something to keep those who caused this disaster from making it worse . . . and perhaps make them pay for their crimes.

But first it's necessary to understand the problem, and then help the average person understand it as well. If we don't educate the public, then the Financial Elite will get away with their crimes as they usually do, and we will be left holding the (empty) bag.