Obama’s big sellout

Taibbi strikes again. This story getting quoted and reposted everywhere today. Good.

What’s taken place in the year since Obama won the presidency has turned out to be one of the most dramatic political about-faces in our history. Elected in the midst of a crushing economic crisis brought on by a decade of orgiastic deregulation and unchecked greed, Obama had a clear mandate to rein in Wall Street and remake the entire structure of the American economy. What he did instead was ship even his most marginally progressive campaign advisers off to various bureaucratic Siberias, while packing the key economic positions in his White House with the very people who caused the crisis in the first place. This new team of bubble-fattened ex-bankers and laissez-faire intellectuals then proceeded to sell us all out, instituting a massive, trickle-up bailout and systematically gutting regulatory reform from the inside.

One comment

  1. Bla bla bla, what did you expect, an ethical corporate capitalism working for the benefit of the people, while pursuing peace across the world, lead by a glorious commander-in-chief? It all appears to be playing out just like I and many many others said before the election was over. Business is business dear friend and money and power are what counts, the people can lump it or like it, or of course they can decide to take things into their own hands and change the system, not the leader.

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.