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Ear to the Ground

Gag Me With a Banker

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Posted on Jan 4, 2011
Flickr / TheTruthAbout (CC-BY)

Having learned nothing from his midterm drubbing, President Obama is reportedly considering making JPMorgan Chase executive William Daley his chief of staff. Because what this administration needs is more sympathy for the hooligans on Wall Street.

Daley, one of a seemingly endless supply of think-small corporate Democrats, is the founder of a think tank that goes by the unfortunate name of Third Way.  —PZS

Los Angeles Times:

Daley, 62, would bring a strong business resume to the White House. He is an executive with JPMorgan Chase & Co. and a prominent figure among centrist Democrats.

In 2009, Daley was one of the first high-profile Democrats to urge Obama to move toward the political center. In an op-ed piece in the Washington Post, Daley said the party must either “plot a more moderate, centrist course” or risk major losses in the midterm congressional election and future campaigns as well.

In July, Daley joined the board of trustees of Third Way, a Democratic think tank whose agenda he characterized as “moderate, pro-business and pro-growth.”

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By SuperMike1661, January 6, 2011 at 4:30 pm Link to this comment

It is time to ask the Big Question: Is the Democratic Process still functional in the United States?  I need a strong argument “for” if I am to believe once again.

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By bogi666, January 5, 2011 at 9:59 am Link to this comment
(Unregistered commenter)

How did that advice about moving to the center work out Dinocraps. It only stands to reason to make who recommended centrism as Chief of Staff. I don’t remember ObomberBush ever declaring himself a liberal, a progressive or ever saying anything that would put him in that mold. It’s wishful thinking that ObomberBush was anything other than center right.

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By aacme88, January 5, 2011 at 9:25 am Link to this comment

BOTH parties are owned by the bankers. Face it. Help is not going to come within the 2 party system.
Let’s hope it can still somehow come within a democratic process.

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By knute, January 4, 2011 at 1:42 pm Link to this comment
(Unregistered commenter)

As long as Obama continues to look only to the Wall Street greedheads our middle class will continue to spiral down. Its becoming pretty obvious that is the plan, has been all along and Obama, despite his fancy “speechifying” to the contrary is showing that he is determined to help the staus quo rather then fix it for the people. Volker continues to be ignored, Geinther continues to be Wall Street’s whore in the White House. Looks like he will have another companion to help him ignore everything but the desires of Wall Street. I’m more discusted with Obama then Bush, simply because you knew what you were getting with Bush, but atleast you thought there was a chance for change once he was out. Now to find out that his replacement is no more interested in whats happening to so many americans then a member of the Bush family, that he appears to be a synical plant by the same folks who remain in power, its a pretty bitter pill to swallow. The only people who appear to acknowledge the problem like R. Nader have been made into pariahs by our wonderful corporate controlled media and there seems very few political leaders with the courage to give a damn. Kucinich being one and he’s close to being removed after the last census. Fiengold lost in the last election thanks in part to the Tea Party ignorance. Its hard to see any light at the end of thistunnel and we certainly can’t look to our present political system for an answer. They have been bought all the way to the top.

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By Wat Stearns, January 4, 2011 at 1:18 pm Link to this comment
(Unregistered commenter)

Here is a petition for U.S. federal election reform, so that Congress will obey the people not corporations:  http://www.petitiononline.com/PoliTru3/petition.html.
If we act together now, we can still save our country.

Thank you for your attention.

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By Jim Goodson, January 4, 2011 at 12:44 pm Link to this comment
(Unregistered commenter)

The only thing I can agree with the Right Wing F-ups, Obama is a One Termer.

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G.Anderson's avatar

By G.Anderson, January 4, 2011 at 12:05 pm Link to this comment

If the Dims don’t dump Obama in a primary challenge its going to disappear as a
political party.  Obama is not in the center he’s on the far right, he’s so far right he can’t
even be considered a Dinocat anymore. He’s just another Rethuglican..

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By TImothy Gawne, January 4, 2011 at 11:42 am Link to this comment
(Unregistered commenter)

Obama learned nothing?  Hardly.  Obama has learned that no matter how extreme
his sell-out of the American people, “liberals” will still vote for him.

It is not Obama who has not learned, but “liberals”.

Wake up.  Obama has betrayed us.  We need to stop whining and simply oppose
him and stop voting for him and find some more honest politician who this time
has a real track record of delivering on his/her promises.

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RayLan's avatar

By RayLan, January 4, 2011 at 9:32 am Link to this comment

What a shocker! White bred ivy leagues Obama who lets the corporate interests lead him around by the raisins chooses a banker. Let’s call up the Inquirer.

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By Fat Freddy, January 4, 2011 at 8:59 am Link to this comment

Well, why the Hell not? Jamie Dimon is already on the Board of the Federal Reserve Bank of New York. They may as well have another executive in the White House.

Meanwhile, JP Moragn has effectively cornered the copper market, and their massive naked short position on silver is an effective control on the value of the dollar. JP Morgan’s position in the precious metals market was “inherited” with their “absorption” of Bear Stearns. Of course, all of the bad assets that bankrupted Bear are sitting in a Federal Reserve shell company known as Maiden Lane. JPM got to pick and choose what assets they wanted, and which ones they didn’t. You can thank Hank Paulson and Ben Bernanke for that.

So, who really controls the country?

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By godistwaddle, January 4, 2011 at 7:58 am Link to this comment

Obama: joined Bush to bail the banks that they may
continue their depredations upon the rest of us;
expanded Afghanistan—immolating American thugs and
Afghan patriots to be re-elected and show himself all
manned-up for the Repubs; continues Iraq; continues
Gitmo; fails to prosecute the war criminals of the
previous administration, making his own even more
complicit in their crimes; dithers about
foreclosures; expands Bagram, where Afghans and
others may be tortured to death by the CIA without
any oversight; expands drone attacks whereby American
“heroes” annihilate the wedding parties of innocent
(“terrorist”) Afghans by flipping a switch at Nelson
AFB; makes sure meaningful health care reform will
NOT occur; bails the companies who then coolly
outsource more jobs; takes direction from BP;  makes
certain real banking reform will not get Citibank’s
panties in a twist; and assures the rich that they
need not pay their fair share for the privileges
they’ve derived from american society and law.. In
short, Obama joins the powerful in making sure this
crisis reduces plain Americans to the peonage the
powerful want. No more unions, no more living wages—
just the workers in their place, happy to be wage
slaves.

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By ardee, January 4, 2011 at 7:52 am Link to this comment

Why be surprised that Obama continues to show allegiance to the financial community that paid for his campaign and continues to enrich his party’s coffers? What has occurred to force him to rethink his path? Record losses in the mid term election? Trivial when the money continues to roll in.

Unless and until the people vehemently express their opinions on the war, on the economy, on health care, our politicians will continue to do what their masters tell them to do. The twenty eight million folks who chose not to vote this last election possibly believed that they were making an effective protest. They weren’t. Silence is far too easily ignored.

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