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10 December 2009

 

Obama Lied To Me, And I'm Mad As Hell About It

For some time now I've been astounded that no major writer was pointing out how seriously different the Obama Administration is from the Obama Campaign. For one, I feel that he lied to me, and it may be the final nail in my coffin of trusting ANY politician again.

The link above will take you to MATT TAIBBI's Dec 09, 2009 Rolling Stone article, and I highly recommend that you read it. Here are the concluding lines:

"The investment community feels very put-upon," Fass explained. "They feel there is no reason why they shouldn't earn $1 million to $200 million a year, and they don't want to be held responsible for the global financial meltdown." ... Which makes sense. Shit, who could blame the investment community for the meltdown? What kind of assholes are we to put any of this on them? ... This is the kind of person who is working for the Obama administration, which makes it unsurprising that we're getting no real reform of the finance industry. There's no other way to say it: Barack Obama, a once-in-a-generation political talent whose graceful conquest of America's racial dragons en route to the White House inspired the entire world, has for some reason allowed his presidency to be hijacked by sniveling, low-rent shitheads. Instead of reining in Wall Street, Obama has allowed himself to be seduced by it, leaving even his erstwhile campaign adviser, ex-Fed chief Paul Volcker, concerned about a "moral hazard" creeping over his administration. ... "The obvious danger is that with the passage of time, risk-taking will be encouraged and efforts at prudential restraint will be resisted," Volcker told Congress in September, expressing concerns about all the regulatory loopholes in Frank's bill. "Ultimately, the possibility of further crises — even greater crises — will increase." ... What's most troubling is that we don't know if Obama has changed, or if the influence of Wall Street is simply a fundamental and ineradicable element of our electoral system. What we do know is that Barack Obama pulled a bait-and-switch on us. If it were any other politician, we wouldn't be surprised. Maybe it's our fault, for thinking he was different.

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posted by Lorenzo 5:38 PM