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McCain Gets It, Obama Doesn’t

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Posted on Jan 6, 2010
Obama and McCain
AP / Haraz N. Ghanbari

Facing off: Sen. John McCain looks on as President Barack Obama meets with members of Congress to discuss immigration last June 25 at the White House.

By Robert Scheer

Maybe I got it wrong. During the presidential campaign I wrote columns blasting Sen. John McCain for siding with the big bankers on deregulation, citing his choosing ex-Sen. Phil Gramm, currently a vice chairman of the Swiss-owned banking giant UBS, as his presidential campaign chair. Barack Obama, on the other hand, repeatedly blasted Gramm and the Gramm-Leach-Bliley Act, which the Texas Republican had pushed through Congress, with President Bill Clinton’s support—legislation that repealed the Glass-Steagall Act and radically deregulated the financial industry. 

But now the roles are reversed, and it is McCain who, along with Sen. Maria Cantwell, D-Wash., has sponsored a bill to repeal Gramm’s legislation, while Obama seeks to preserve it.

The Gramm legislation, which permitted the merger of investment and commercial banks into too-big-to-fail corporations (including Citigroup and AIG, two financial giants that had to be bailed out by taxpayers), was thought by Obama the candidate to be a key cause of the meltdown. But as president he reappointed the Clinton-era officials who had sided with Gramm in ending sensible banking regulations that had protected the public for 70 years and made the U.S. banking system the envy of the world.

Rather than restore Glass-Steagall, the Obama-backed banking regulation bill passed last month by the Democratic majority in the House went along with the desire of Wall Street lobbyists to prevent the breakup of the big conglomerates and to block control of their massive trading in the derivatives that proved to be so toxic.

The result, with some deceptive reformist window dressing, is a pro-Wall Street business-as-usual cop-out, and the Senate version is likely to be more of the same. Fortunately, there is a better way, and thanks to the McCain-Cantwell bill and a companion one authored by Rep. Maurice Hinchey, D-N.Y., in the House, there is still a chance at serious financial regulation through the restoration of the key provisions of Glass-Steagall.

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How odd that it now remains for McCain to stand up to the oversize banks.

“… I want to ensure that we never stick the American taxpayer with another $700 billion—or even larger—tab to bail out the financial industry,” McCain proclaimed in introducing his legislation. “… This country would be better served if we limit the activities of these financial institutions.”

But just the opposite happened under the great bailout. The big investment houses of Goldman Sachs and Morgan Stanley were allowed to suddenly attain the status of commercial banks in order to qualify for federal bailouts, and the once staid commercial Bank of America was encouraged by the Fed to buy out the investment house Merrill Lynch. As a result, banking has never before been concentrated in so few hands. As Rep. Hinchey put it:

“Today, just four huge financial institutions hold half the mortgages in America, issue nearly two-thirds of credit cards, and control about 40 percent of all bank deposits in the U.S. In addition, the face value of over-the-counter derivatives at commercial banks has grown to $290 trillion, 95 percent of which are held at just five financial institutions. We cannot allow the security of the American economy to rest in the hands of so few institutions.”

Those derivatives, that hodgepodge collection of securitized debt—including mortgages of most American homes—are at the heart of the problem, and they are not regulated in any significant way by the legislation supported by the administration. It’s no wonder, since Lawrence Summers, the president’s top economic adviser, was not only a key proponent of reversing Glass-Steagall in the Clinton White House but also supported the Financial Services Modernization Act, passed a year later, that summarily exempted those suspect derivatives from any regulation.

Although Obama has blasted “fat cat bankers on Wall Street,” it is time for those who elected him to ask for more than rhetoric. And to ask that of the Democratic leaders of the House, who refused to allow a vote on Hinchey’s amendment to include the restoration of Glass-Steagall in their so-called Wall Street Reform Act. Introducing it as a separate bill, Hinchey stated:

“The repeal of the Glass-Steagall Act was done to help large banks become enormous and to line the pockets of banking executives with more money than most Americans could ever dream of earning in their lifetime. … This bill would help right the ship and return our country to the days when banks either participated in commercial lending activities or investment activities, but not both.”

There is much logic in preventing commercial banks, which carry the hard-earned savings of depositors and a federal guarantee of their worth, from engaging in the high-roller risk-taking of investment banks. 

If McCain now gets it, why doesn’t Obama?

Click here to check out Robert Scheer’s book,
“The Great American Stickup: How Reagan Republicans and Clinton Democrats Enriched Wall Street While Mugging Main Street.”


Keep up with Robert Scheer’s latest columns, interviews, tour dates and more at www.truthdig.com/robert_scheer.



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By johncp, March 5, 2010 at 7:05 pm Link to this comment

Well, Christian96
If you’re concerned with “ideas for making things better,” let me suggest, that we consider making them “slighty better,” as an ideal.  There are three possible ways the future can unravel for us: 1) slightly better, 2) more of the same, 3) going backward (i.e., getting worse).  I supported Hillary last year, because I strongly believed that, inasmuch as all the candidates were “corporate controlled,” it was the candidate most skillful at getting the best possible deal for us rabble, in spite of the manipulations of corporate bosses, that she was the best we could get.  Instead, much of the electorate was bamboozeld, once more, by idiotic obsessions.  Much of that electorate, gave the election to Obama, by a hair.  Why?  Because he was prompted to become, or already was, a master bullshitter, and according to some lamebrained of his supporters, a majority of democrats proved themselves racists by not voting for him.  I’m not sure a majority of democrats didn’t vote for Obama, but I strongly suspect they didn’t. I strongly
suspect that a sizable majority of democrats voted for Hillary, so that all the hatred for her, that exists on this site, will fall on deaf, but knowledgeable ears.  I voted, later, for Mckinney, vastly Blacker than Obama, vastly more liberal, and completely, and deliberately, ignored by media.  So, we are stuck with a situation, that at best, will leave us where we were before the election.  What will we do in 2012?  Probably make another idiotic choice.  I give up.

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By christian96, March 5, 2010 at 7:49 am Link to this comment

Bonito—-Most of us on truthdig are aware of the
wiles of the extant system.  Got any ideas for
changing it?

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bonito's avatar

By bonito, March 2, 2010 at 8:32 am Link to this comment

So what else is new, the people were fooled once
again. Hollywood could not script it better.  The GOP
ran an old man for Pres. that had little or no chance
of being elected, and to top it off selected a
running mate that was a half term Gov. and a quitter. 
And so we ended up with Obama and his Jew aides, and
now we expect change. No way no how, he is destined
to be a one term Pres. just like Bush #1, almost like
our one party system got together and planned it that
way.  How can the working people of this country be
so stupid, do they really think that the rich
people’s party is really going to do anything for
them. We must know by now that the next Pres. is
going to be a Republican, and that he will be there
for eight years just like Bush#2.  Do you see a
pattern here, if most of the workers that are getting
minimum wage now think they are being screwed, just
wait until the GOP cuts that in half and then maybe
again, after all there is no Organization to stop
them since the GOP’s Saint Ronnie the ray-gun broke
most of the Unions. It is hard for me to believe that
in the past forty years most of the workers in this
country have consistently voted against their own
interests, just because they fell for the macho
rhetoric spewed by the GOP in their anti-union
messages wrapped in the flag and patriotism, designed
to further enslave those whom make the rich people
richer.

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By omygodnotagain, January 16, 2010 at 4:19 pm Link to this comment

Christian 96
Christian Zionists like you are a big part of the problem, a 500 year old problem. The last line in Matthews Gospel is Jesus saying “I will be with you until the end of the ages”.
So where were these Christian Zionists from 33AD to the 16th century, were they at the Council of Nicea, or Chalcedon… no.  if Christianity is a tree grown from the acorn of Pentacost, Christian Zionists are a broken branch looking for their acorn, looking for validation, to cover over a 1500 year gap . I will be with you ALWAYS.
So instead of joining a Christian sect that can trace their roots back to Pentacost like the Armenian Church or the Eastern Orthodox, Anglican, Epicopalian, Coptic, Chaldean, Nestorian or rejoining the Catholic Church, they instead imagine themselves to be decendents of the biblical Israelites. That is why they are always quoting the Old Testament, even though most mainline Christian Churches, realize its an allegorical, non historical story, just like Shakespeare’s version of Julius Caesar is not true history. Because it isn’t it is more powerful, it contains moral lessons.
The rest of us who understand this have to put up with these pronouncement like they actually are factual statements, worse they make foreign policy decisions based on them.
Please read the last line of Matthews Gospel.

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By christian96, January 15, 2010 at 9:04 pm Link to this comment

Zechariah 14:12 “And this shall be the plague wherewith the Lord will smite all the people that
have fought against Jerusalem: Their flesh shall
consume away while they stand upon their feet, and
their eyes shall consume away in their holes, and
their tongues shall consume away in their mouth.”
Read’em and weep you demon possessed Jew haters. Looks like we are rushing towards fulfillment of
this prophecy.

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By Liquor Store Larry, January 12, 2010 at 7:24 am Link to this comment

WILDFLOWER - OBAMA IS A WALL ST ASS KISSING HUMMER

Tim Geithner bragged about the success of the bailout: “We’ve already earned about $6 billion for the taxpayer on those investments.” Sounds great—unless you consider the fact that we’ve we actually “invested” $4.7 trillion in our bank bailout. Shouldn’t we demand to know what happened to the remaining $4.694 trillion? http://www.huffingtonpost.com/arianna-huffington/remember-that-whole-thing_b_252548.html
Goldman Sachs made $2.3 billion in 2008, but gave out $4.8 billion in bonuses; they also received $10 billion in TARP funds and more than $12 billion of taxpayer money as a counterparty to AIG. JPMorgan Chase made $5.6 billion, but gave out $8.69 in bonuses; they received $25 billion in taxpayer bailout money. Citigroup and Merrill Lynch lost $54 billion, but gave out $9 billion in bonuses. It must have helped that taxpayers wrote them a check for $55 billion.

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By wildflower, January 12, 2010 at 12:25 am Link to this comment

Hmmm:

“President Obama will try to recoup for taxpayers as much as $120 billion of the money spent to bail out the financial system, most likely through a tax on large banks, administration and Congressional officials said Monday. . .

The general idea is to devise a levy that would help reduce the budget deficit . . . and would also discourage the kinds of excessive risk-taking among financial institutions that led to a near collapse of Wall Street in 2008, the officials said.”

http://www.nytimes.com/2010/01/12/business/economy/12bailout.html?hp

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By john crandell, January 11, 2010 at 10:36 pm Link to this comment

You forgot Moshe Dayan’s attack upon the USS Liberty in the 1967 war, Shill. How many died in that incident?

p.s. - there once was an old wooden WW II hospital located where the Ft. Hood Deployment Center now stands. Once in awhile I had to pull all night guard there. Those were in the days of Hood when Lt. Calley’s commander was tried for war crimes which he’d supervised in Vietnam. That was Captain Medina. You remember Calley, don’t you Shill? Yeah, I bet you do.

Yes, there are all kinds of Nazis in this world. Look in the mirror and you’ll see one. You’d shit your pants if you knew who my mother was.

Noam Chomsky refers to the actions of the Israeli government as “rationalized sadism.” Such perfect terminology.

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By Liquor Store Larry, January 11, 2010 at 9:59 pm Link to this comment

A STORY ABOUT JOHN CRANDELL’S HOME BOY:

Army psychiatrist blamed in Fort Hood shooting rampage

The suspect, stable after being shot himself, is accused of killing 13 and wounding 30 at the Texas Army base. It’s not clear whether he is the author of inflammatory comments on the Web. Reporting from Ft. Hood, Texas, Washington and Los Angeles—An Army psychiatrist who was about to be deployed to Iraq allegedly armed himself with two guns and opened fire Thursday afternoon on the grounds of Ft. Hood, the country’s largest military base, killing 12 people and injuring 31 others.

UPDATE—2:34 a.m.
The Associated Press reports a 13th death, with 30 wounded, in Thursday’s shooting rampage at Ft. Hood. Suspected shooter Maj. Nidal Malik Hasan, who was shot four times, is on a ventilator and unconscious in a hospital.


Officials said that soldiers and civilians ripped apart their clothes to make bandages for fallen colleagues, many of whom were waiting at the base’s Soldier Readiness Center for medical and dental exams before deployment. The attack shocked the country and raised questions about base security.

The suspected gunman, who initially was thought to have died, was wounded and in stable condition under guard at a hospital. Identified as Maj. Nidal Malik Hasan, 39, he worked at the Darnall Army Medical Center, Ft. Hood’s hospital. The facility has an extensive program to help soldiers deal with the stress of returning from war.

LET’S SEE HOW JOHN CRANDELL LIKES IT WHEN IT AINT JEWS ON THE SHI**Y END OF THE STICK - JOHN CRANDELL, THIS IS YOUR HOME BOY!

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By Liquor Store Larry, January 11, 2010 at 9:54 pm Link to this comment

“john crandell” has a real “thang” for “white phosphorus”. Is that so much different that having your body filled with nails and shrapnel ... John you poor baby, what did a Jew do to you? Do you have a mean landlord or did your Mama sleep with a Jew behind your Daddy’s back or were the Jewish kids in school smarter than you because yo mind aint right!

Oct. 4, 2003
29-year-old female suicide bomber from Jenin explodes in a Haifa restaurant, co-owned by Israeli Arabs, two days before Yom Kippur.
19 murdered, including several children. A newborn and 4 Israeli-Arabs were among those killed. 60 injured.

Sept. 9, 2003
Twin homocide bomb attacks take place near the Zerifin Military Base and at a Jerusalem cafe.
15 murdered. Among the dead in the cafe attack were Dr. David Applebaum, head of the emergency room of a Jerusalem hospital, and his daughter Nava, a bride to be married the next day.

Aug. 19, 2003 - The attack takes place in the midst of a “cease-fire” declared by Palestinian terror groups and on the eve of a planned transfer of several West Bank cities to Palestinian Authority control.
A Palestinian suicide bomber, dressed as an Orthodox Jew, strikes on a Jerusalem bus.
23 murdered, including several children. More than 100 are injured.

June 11, 2003 - The attack comes a week after the “road map” peace process is launched at a summit in Aqaba, Jordan, with the leaders of Israel, the Palestinian Authority and the United States.
A Palestinian suicide bomber, dressed as an Orthodox Jew, blows himself up on a bus.
17 murdered.

March 5, 2003
A Palestinian suicide bomber strikes on a bus en route to Haifa University.
17 murdered, most of them teenagers. 53 injured.

Jan. 5, 2003
Two Palestinian suicide bombers strike in crowded Tel Aviv shopping district.
23 murdered, including 8 foreign nationals. More than 120 injured.

Nov. 21, 2002
A Palestinian suicide bomber detonates on a commuter bus during morning rush hour in Jerusalem.
11 murdered, many of them schoolchildren. More than 50 injured.

Oct. 22, 2002
An explosives-laden sport utility vehicle driven by a Palestinian suicide bomber rammed into a bus near Hadera in northern Israel.
14 murdered. More than 45 injured.

July 31, 2002
A Palestinian terrorist plants and detonates a bomb in a backpack in a Hebrew University cafeteria.
9 murdered, including 5 Americans. More than 80 injured.

June 18-19, 2002
A Palestinian suicide bomber strikes on a rush-hour bus in Jerusalem, carrying many children on their way to school.
19 murdered. 74 injured - 6 seriously.
A Palestinian suicide bomber strikes at a hitchhiking post in Jerusalem’s French Hill.
7 murdered. 50 injured - 3 critically.

June 5, 2002
A car packed with a large quantity of explosives struck a bus traveling from Tel-Aviv to Tiberias.
17 murdered. 38 injured.

May 8, 2002
A Palestinian suicide bomber strikes at a crowded billiard hall in the Tel Aviv suburb of Rishon le-Zion.
15 murdered. 55 injured.

March 31, 2002
A Palestinian suicide bomber strikes a restaurant in Haifa frequented by both Arabs and Jews. The bombing follows suicide attacks on each of the previous two days, one at a Jerusalem supermarket and one at a café in Tel Aviv.
15 murdered. Over 40 injured.

March 27, 2002
A Palestinian suicide bomber (Hamas) strikes at Netanya’s Park hotel during a Passover seder.
29 murdered, mostly senior citizens. 140 injured - 20 seriously.

June 1, 2001 - The attack comes days after Prime Minister Ariel Sharon announced a unilateral Israeli cease-fire.
A Palestinian suicide bomber attacks a Tel Aviv beachside disco filled with teenaged immigrants from the former Soviet Union.
21 murdered. More than 100 injured.

Information and often photos of each of the 841 victims of Palestinian violence and terrorist attacks in Israel can be found on the Israeli Ministry of Foreign Affairs Web Site.

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By john crandell, January 11, 2010 at 8:20 pm Link to this comment

AIPAC Shill alert!

What, oh what, would have been the Israeli response if the Palestinians had somehow managed to get ahold of an artillery piece plus a single shell of White Phosphorus, launched it and the shell then exploded
directly atop an Isreaeli elementary school?

I know a little about Willy Peter, you stinking shill. I saw it in use in a war in Vietnam. You are thoroughly blind to the current rationalized sadism as practiced upon the Palestinians.

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By ed_tru_lib, January 11, 2010 at 7:10 pm Link to this comment

Not that an obvious twerp like t groan deserves it but I’ll be charitable and give a serious, and, just for him, very simple response.

No big fan of Clinton, Gore, or (anymore) Obama here—merely someone who, unlike the pseudo-progressive leftyloon trash that permeates truthdig, realizes he lives on Planet Earth, and Obama is preferable to say, Palin handling things. AKA_MUCH better a pretty ok winner than a nice leftyloser who gives us cheney/rove/bin laden/speares/paris hilton etc etc etc.

But take heart-true selfless progressives like ralph nader (ROFFLHysterically) will almost certainly try to get her elected in 2012, the way he elected Bush in 2000 getting us into this mess, after years of Clinton surpluses and balanced budgets.

As for some utter scum bringing anti-semitic garbage in here, along with whatever other shit he normally eats-not worth my responding, especially when Liquor Store Larry is already on the case. L’Chaim.

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By john crandell, January 10, 2010 at 10:14 pm Link to this comment

to repeat: Remember this: did the president elect have anything to say when Israel went genocidal, rained White Phosphorus upon the two-story school full of children in Gaza?

Is AIPAC supplementing your income too, dude?

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By Liquor Store Larry, January 10, 2010 at 10:05 pm Link to this comment

By john crandell, January 11 at 1:03 am #Exactly how could Obama have gotten as far as he did in the summer of ‘08 without first signifying his allegiances with/to Wall Street and Israel.???

 

LMAO - even this colaboration between Phil Gramm and Bill Clinton is the Jews fault? OMG - is it any wonder that some Jews have a persecution complex. The Nazi sympathizers are coming out of the woodwork on Truthdig. JOHN, I HAVE SOME REAL BAD NEWS FOR YA ... NEITHER CLINTON OR GRAMM ARE JEWISH! I think someone has been putting “white phosphorus” in your Wheaties!

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By john crandell, January 10, 2010 at 9:03 pm Link to this comment

With this latest from Bob Scheer, the nails are now down tight all along the edge of the coffin lid in respect to the administration and the progressive wing of the party.

Exactly how could Obama have gotten as far as he did in the summer of ‘08 without first signifying his allegiances with/to Wall Street and Israel.???

There is no way that he’d have got near as far, if he hadn’t. Perhaps his choice for his chief of staff wasn’t in fact a choice. Perhaps it was a dictate, part and parcel to - how shall we say - an arrangement?  Remember this: did the president elect have anything to say when Israel went genocidal, rained White Phosphorus upon the two-story school full of children in Gaza?

Have you seen the video, Mr. Prez? Try and check it out, Mr. Cool.

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By Liquor Store Larry, January 10, 2010 at 8:19 pm Link to this comment

Terry - I spoke to a cousin of my French Canadian wife a few days ago and he said “the banks here can not fail because the government makes them keep healthy reserves”. Doesn’t seem like that mysterious a concept huh? I told him that we USED TO do the same thing before Bill Clinton signed Phil Gramm’s 99 legislation removing depression era firewalls between brokerages and savings banks that had protected us for three quarters of a century. I don’t know that anything can restore this country anymore and I rather doubt it because we have dismantled our infrastructure to manufacture anything but debt! If we can, it will take a lot of innovation and a long time. If I was Warren Buffet I too might feel optimistic however I am not either of those! *S*

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By christian96, January 10, 2010 at 7:14 pm Link to this comment

If con is the opposite of pro, is Congress the opposite of
progress?

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By Terry, January 9, 2010 at 6:52 pm Link to this comment
(Unregistered commenter)

Yes, the comment by wildflower and the FDR quote are excellent.  I heard some business types on Republican radio recently speculating that getting the securitization of debt (derivatives) flowing again is what will revive the economy, in spite of admitting that most manufacturers will hire overseas when things pick up again.

But I think Obama and the Dem machine is vainly hoping that another Clinton style bubble will improve things enough to hold onto a majority in Congress and secure a second term for Obama.

I don’t think they will be successful because that was then, and this is now.  When people realize they have been taken once again by banks and multinationals, they will understand what FDR did and the timing will be bad for the Dems that supported this gambit.

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By Liquor Store Larry, January 9, 2010 at 5:18 pm Link to this comment

wildflower “gets it” - I say Bingo!

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By wildflower, January 9, 2010 at 3:03 pm Link to this comment

Re Scheer: “McCain Gets It, Obama Doesn’t”

Kevin Drum in his “Earning Some Hatred” post says he would like to see Obama develop some attitude – like FDR.  But what’s really needed is a lot more ATTITUDE FROM EVERYBODY - like FDR’s:

“We had to struggle with the old enemies of peace — business and financial monopoly, speculation, reckless banking, class antagonism, sectionalism, war profiteering. They had begun to consider the Government of the United States as a mere appendage to their own affairs. We know now that Government by organized money is just as dangerous as Government by organized mob.”  [Franklin Roosevelt - 1936]

http://motherjones.com/kevin-drum

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By GW=MCHammered, January 8, 2010 at 9:30 am Link to this comment
(Unregistered commenter)

Hey, christian96:

“Survival of the fittest” refers to mutations best
suited for an environment becoming dominant through
Natural Selection and the idea belongs to Herbert
Spencer not Darwin. The idea that certain individuals
are better suited than others to survive is the
egotistic, bastadized rendition of the observation.

Where Thomas Malthus (and modern versions of he) sees
a crowd and thinks ‘must de-crowd,’ Ronald McDonald
thinks ‘feed and profit.’ Darwin, Herbert and
McDonald are right. Egotists and Lathus are wrong.

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By Anarcissie, January 8, 2010 at 9:15 am Link to this comment

johncp, January 7 at 3:15 pm:
‘It seems necessary, each time in these discussions, to remind people that “government” is not the problem.  We reach a point in these posts, where government is distinguished from people.  We do the same thing with the word corporation.  People do one thing, but governments and corporations do another.  This is irrational. ...’

Well, not entirely.  It depends on what kind of view you’re taking.  In the long run and the broad view, yes, we choose and support our masters.  In the short run and the narrow view, most people have very little power over their lives.  The connection between these two views is passivity and dependence, which comes out as a desire for a better master, a good monarch.  This approach, as we can see looking around this web site, is quite popular among people who call themselves “progressives”.

The result of this social structure are large collections of people following power-hungry leaders around.  The conditions of life are determined by power struggles between the leaders.  The followers don’t make the decisions, except for the one essential decision to follow a leader.

I’ve been trying to change this most of my life, off and on, but it’s slow going.

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By Amon Drool, January 8, 2010 at 8:19 am Link to this comment

a_worried_dad: “I would argue that the constitution has set up a very well designed compromise structure for the 3 branches to implement the will of the people.”

i beat to death this example of constitutional poor design in my posts, but i’ll bring it up again.  CA has 40,000,000 people; wyoming has 650,000.  they both have 2 senators…do the math.  a voter in wyoming has 50 times more power than a voter in CA.  this is a far cry from the democratic principle of 1 man, 1 vote.
______
a_worried_dad: “...the simplest way to make sure that those in “government” represent we the people, is to remove every aspect of private campaign funding.”

well, first that’s a very surprising stance for a liberterian to be taking.  banning private campaign financing does have some magic bullet appeal, but i’m pretty sure the best we can hope for is to make who contributes to who as transparent as possible.  mainstream media has really fallen down on this one, and those interested in finding about campaign contributions are forced to go thru the internet to the center for public integrity to dig up this info.


u know, liberterians and progressives/social democrats have some basic things in common.  aversions to US imperialism, drug wars and bank bailouts are examples.  until we structure our democracy to empower such possible coalitions to enact the will of the people, our experiment in democratic governance will in all likelihood be a failure.

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By T Groan, January 8, 2010 at 7:14 am Link to this comment
(Unregistered commenter)

It’s really nauseating to read uninformed comments by democrat party hacks masquerading as liberals.

ed_tru_lib go back to dailykos with their worship of all things democrat. You’re not a progressive or liberal but merely an establishment stooge.

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By a_worried_dad, January 8, 2010 at 6:03 am Link to this comment

>>By Amon Drool, January 7 at 8:12 pm #
>>
>>shouldn’t the government be structured in such a way as to implement the will of the people? 

Again, I am for SMALL government.  I would argue that the constitution has set up a very well designed compromise structure for the 3 branches to implement the will of the people.  Yes, I agree that 230+ years ago, the founders did not envision the Supreme Court to live (let alone work) into their 70’s, let alone their 80’s, but all in all, the founders did a good job

yet—as libertarian as I am, the simplest way to make sure that those in “government” represent we the people, is to remove every aspect of private campaign funding.  Those in government, do NOT represent us any longer, they represent those who have deep pockets and can BUY them.

I truly believe, that most who go into public service do so for the right reasons, but to STAY in public service, requires them to listen to those with the deepest pockets who they are beholden to, not those of us who they theoretically represent

If those in public service could do what their CONSCIENCE tells them to do, and not what their contributors tell them to do, do we really think that we would have banks and investment firms in the same company???  This is such a gross conflict of interest, that any sane person would see the basic ethical problem with this setup.  Goodness, you could ask a second grader if this makes sense and get a common sense answer

congress is worried about a drug company providing me (as a physician) with a pen—but they see no problem with mortgage companies providing chris dodd with “preferred rates”

I could care less about a pen, and taking away any semblance of impropriety is fine for me, but those in government, should do the same

this simple tack would solve the vast majority of conflicts of interest—and get this country back on a road to success and profitability

As of now—I am scared to death where we are headed and what those in public office are committing our children and our children’s children to pay for

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By Mark E. Smith, January 8, 2010 at 2:48 am Link to this comment

In 2000 it was the Supreme Court that elected Bush by stopping the vote count, nullifying the election, and installing the President of their choice. Nader had nothing to do with it.

In 2004 it was Kerry who elected Bush by breaking both his promises to his supporters when he conceded early without first ensuring that all the votes had been counted.

And in 2008, as usual, although the alleged Democrat won, the President was sworn into office, as usual, without all the votes first being counted.

The popular vote for President is merely a referendum. Our Constitution prohibits us from voting directly for President and Vice-President. Their names are on the ballots fraudulently, and when you vote for them, you’re really voting for the slate of Electors of the political party to which they belong, whose names are not on the ballot, and who are the only ones allowed to vote for President and Vice-President. Of course the people who program the central tabulators that count more than 80% of our votes have the power to override the choices of the voters, the Electoral College has the power to ignore the choices of the programmers, Congress has the power to accept or reject the Electoral College votes, and the Supreme Court has the power to accept or reject the decision of Congress. Neither Nader, the voters, or anyone other than the programmers who program the central tabulators, the Electoral College, Congress, and the Supreme Court, has any real say in electing the President and Vice-President. And the choices on the ballot are limited to those approved by policy-making bodies like the Council on Foreign Relations, the Trilateral Commission, the Bilderbergers, and others that represent the major stockholders in the biggest multinational corporations, without whose support neither political party could survive, so neither one would nominate anyone who didn’t meet with the approval of the policy-making bodies.

The policy-making bodies are called policy-making bodies because they control the purse strings and therefore they control our government and only they have the power to make policy. The political parties are wholly dependent upon them. Neither the President nor Congress can make policy.

The elections are just ways for the oligarhy to stave off revolution by making ignorant people think that they have a voice in government by voting. Since our Constitution does not give us any way to directly hold our elected “representatives” accountable during their terms of office, they have no obligation to represent us. Since they have to spend most of their time raising money in order to stay in office, they represent their biggest donors.

The political parties want money from voters, but they don’t really care about voters. In 2008 Congress had an extremely low approval rating, and so did both political parties among their own voters. So the political parties nominated two sitting members of an unpopular Congress, who then proceeded to put forth the same agenda that most Americans opposed, namely war and bailouts.

That’s why most sensible people won’t bother to vote this year. Even if you THINK you’re voting for an excellent candidate, for civil rights, for the environment, to save the polar bears, or whatever, you end up getting wars and bailouts. No matter how you vote or who you vote for, whether your vote is or isn’t counted, you’ll still end up with war and bailouts. You can have Republican or Democratic war and bailouts, white or black war and bailouts, male or female war and bailouts, but since there is no other possible outcome, it shouldn’t be called an election.

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By ed_tru_lib, January 8, 2010 at 1:58 am Link to this comment

Excellent well-reasoned, sensibly stated comments by Johncp. Nice to know there’s at least one other legimate American Progressive Liberal posting here, in addition to the leftyloon nonsense and utter mindless garbage of people like this wildhack thing, who calls Obama a “fuhrer” and suicide bombers of holiday passenger-filled airliners “freedom fighters.”

And how about those REALLY pathetic, evil types-the consumate anti-american evil—the nadertraitors who stood by, or worse participated when nader elected Bush by not supporting a progressive winner like Gore, putting us into this nightmare situation that well-intentioned but inexperienced Obama is having such trouble getting us out of?

Clinton/Gore 2012-probably our last chance to save the America of the Founding Fathers.

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By Ouroborus, January 8, 2010 at 1:43 am Link to this comment

ardee, January 6 at 7:57 am #
Through the looking glass, darkly..

OK so that is a butchered compilation of Lewis Carrol
and Ingmar Bergman, with a touch of new testament
thrown in for seasoning.

Am I alone in thinking that this illustrates exactly
how ridiculous our current political scene has
become?
===============================================

No.

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By christian96, January 7, 2010 at 11:27 pm Link to this comment

The problems confronting our society are primarily
related to the thoughts of people.  All politicians
and most businessmen have been to college.  What
influenced their thoughts?  The ideas of Charles
Darwin which planted the concept “survival of the
fitest” in the poticians and businesspersons heads.
Throw in the ideas of Thomas Malthus which basically
say there are not enough resources to go around for
all people and you have politicians and businesspeople thinking, “there are not enough
resources for everyone so it is a battle of the fittest to see who can get available resources.”
The problem with this thinking is both the ideas of
Darwin and Malthus ARE WRONG.  Yet we still have
these college educated people running the world based on false ideas.

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By Given Up, January 7, 2010 at 8:28 pm Link to this comment
(Unregistered commenter)

As far as I am concerned, Obama has destroyed the Democratic party, destroyed
any sliver of hope that any of us who voted for him hold that the Democrats will
ever be a party worth running our country. I have sworn off voting Democrat or
Republican again for the rest of my life, such is my disillusionment. The Health
care fix is a bad joke, now we have a bigger war in Afganistan and heading into
Pakistan, and average Americans are losing their homes while two million units sit
vacant, repossessed by banks. I’m just laughing now. What else to do in the face
of assured self destruction? This won’t be over until the back of the banks are
broken and at some point the standing government will have to make a choice
between the people supporting it and the banks supporting it. Should be
interesting…

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By Liquor Store Larry, January 7, 2010 at 8:21 pm Link to this comment

DieDaily - very hard to argue with the spirit of your evaluationi! *S*

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By DieDaily, January 7, 2010 at 8:03 pm Link to this comment

It’s both ways. We suck therefore we have bad
government is true. But you also have to factor that
when we occasionally don’t suck, the government refuses
to follow our will. But most of all, you have to figure
in that for decades the government has spared no
expense to dumb us down and make suck the way we do.
It’s a feedback loop. A descending spiral. Brace for
impact. Maybe after we can rebuild something really
cool. But this old junker has basically had it. It
needs a completely new engine at least.

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By Liquor Store Larry, January 7, 2010 at 7:49 pm Link to this comment

Dave and Johncp - I see it quite the opposite. Government refuses to represent, and thus reflect society for the same reason a dog licks his balls .... “because he can”. There was a time when Congressmen tried to keep up the appearance of being above the reach of lobbyists but they have dropped all pretense and now feel so far beyond our reach that they don’t even put on a show. They are nothing more than sock puppets with a handful of corporate money up the back of their shirts. They think we are oblivious and stupid and in that they are right. Why put on a show for those who are not even paying attention. For years professional wrestling tried to pretend it was not fake and was a real sport but in recent years has dropped all pretense and acquiesced to calling itself “sports entertainment”. Maybe we should call our government “Congressional entertainment”.

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By Dave, January 7, 2010 at 6:28 pm Link to this comment
(Unregistered commenter)

@johncp,

You nailed it.  The government today reflects what this society is today.  Our politicians are products of this society elected to office by this society.  What’s in D.C. today is the best we can do, which says a whole lot about the state of this country.

Anyone who was paying even the slightest bit of attention and applied the tiniest bit of critical thinking to the 2008 election would have known Obama was a liar and was going to disappoint.

It’s beyond time to start voting 3rd party since it’s quite clear neither the Republicans nor Democrats will lead based on the interests of this society—the 2 sides of that same coin simply reflect too much corruption.

The problem is staring all of us in the mirror.

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By Amon Drool, January 7, 2010 at 4:12 pm Link to this comment

johncp: “If we have problems in society, it’s “always” the people in that society that are the source of those problems, never the government.”

shouldn’t the government be structured in such a way as to implement the will of the people?  and do u think our govt as presently structured is capable of carrying out the will of the people?  do u think that a legislative branch like the senate, which allows wyoming with a population of 650,000, equal representation with CA (pop 40,000,000) capable of representing the people’s will?  and do u think an institution like the supreme court, with its lifetime appointments and historical tendency to be taken over by business interests, capable of enabling the will of the people?

now, i’m not saying that we shouldn’t have a supreme court or that states should be completely dis-empowered in our federal legislative processes.  i’m saying that we need to re-design the power relations in our constitutional democracy to better reflect and enable the will of the people.  of course, people’s apathy can be a problem.  but blaming people soley and not considering the structural flaws of our democracy is, i feel, short-sighted.

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By Hammond Eggs, January 7, 2010 at 2:25 pm Link to this comment

Chief Traducer Obama and his crew probably decided long before inauguration day to complete their sell-out quickly once they assumed power.  Their strategy was to carry out the Big Betrayal as swiftly as possible, thinking if they got it over early (by my reckoning it was completed by March ‘09) they could spend the next 3 1/2 years trying to con progressives into continuing to vote Democrat.  This strategy had precisely the opposite effect.  There are polls that now claim 40 - 45% of the so-called Democrat base will bolt, or are thinking about it.  Let’s hope this is accurate and that the numbers continue to increase.  The Democrats are to U.S. politics what the Hitler Youth were to the Nazis.  They are, despite their current control of the Executive and Legislative branches of the federal government, merely junior partners to the Republicans in the destruction of the United States.

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By samosamo, January 7, 2010 at 2:01 pm Link to this comment

By Ouroborus, January 7 at 11:57 am

Absolutely, this has been a crime long long time in the
making and as any crime it has, motive, means and
opportunity; and starting with motive it is much greed and hate
towards fellow humans to deny them, in this ‘modern’ world,
a chance to provide and defend for themselves and their family;
the means are or were most bent around the concept of an
economy not of competition but of crushing the competition
or basically to keep the biggest money flows going to the very
greedy and criminal elite by crushing that competition via
vertical and horizontal integration which are the corporate
entities holding all money magnets; and for the opportunity,
this basically our elected personages that are protecting
systems such as the motive, means and opportunities while
playing the charade of a government of, for and by the
people.

Seems if people were to actually get together(trying to avoid
‘organized’) and find ways to break up, disrupt and end those
‘means’ and ‘opportunities’  then that would seemingly weaken
the motives but this world and particularly this country is
based on a slavish hold on belief, mythology and crap being
wielded by a finely tuned mainstream media that has these
‘elite’s’ backs covered really well so it just remains as to what the
people will do because waiting around for a seemingly role
reversal by someone like mccain can only be construed as
worthy if that reversal ACTUALLY produced what it is said it
would do.

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By christian96, January 7, 2010 at 12:05 pm Link to this comment

The Fix
There recently was an article in the St. Petersburg Fl. Times. The Business Section asked readers for ideas on:  “How Would You Fix the Economy?”
I think this guy nailed it!
  _____

Dear Mr. President,

Please find below my suggestion for fixing America’s economy.  Instead of giving billions of dollars to companies that will squander the money on lavish parties and unearned bonuses, use the following plan. You can call it the “Patriotic Retirement Plan”:

There are about 40 million people over 50 in the work force.  Pay them $1 million apiece severance for early retirement with the following stipulations:

1) They MUST retire.  Forty million job openings - Unemployment fixed.

2) They MUST buy a new American CAR.  Forty million cars ordered - Auto Industry fixed.

3) They MUST either buy a house or pay off their mortgage - Housing Crisis fixed.

It can’t get any easier than that!!


P.S. If more money is needed, have all members in Congress pay their taxes…

Mr. President, while you’re at it, make Congress retire on Social Security and Medicare. I’ll bet both programs would be fixed pronto!

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By johncp, January 7, 2010 at 11:15 am Link to this comment

It seems necessary, each time in these discussions, to remind people that “government” is not the problem.  We reach a point in these posts, where government is distinguished from people.  We do the same thing with the word corporation.  People do one thing, but governments and corporations do another.  This is irrational.  The only difference between governments and people is a difference of words not substance.  If “government” functions badly for us, it’s because we’ve made poor choices in selecting the people that occupy the offices in government.  If government appears to be the culprit in our lives, it’s because these poor selections of people for government office, have gone on to make laws (usually without our awareness or consent, or written in language deliberately made incomprehensible to the layman) that undermine our interests.  People who argue against “government,” are either thoughtless, or devious.  If we have problems in society, it’s “always” the people in that society that are the source of those problems, never the government.  Even the structure of government does not arise out of thin air, though some would like to create that impression to confuse us, but from the people to whom we assign the task of creating it.

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By Anarcissie, January 7, 2010 at 9:11 am Link to this comment

a_worried_dad, January 7 at 11:59 am:
’... the fat cats on wall street are just like crack addicts —they need the big fix and the risk is at your and my expense, not theirs

they need “parents” to put limits on their abuses and excesses, and just like addicts, they need to fall into the gutter many times before they see the error in their ways and pick themselves up and change (with our help)

while I am not for big government, government is the ONLY way to put limits on these greedy, short sighted charlatan’s…’

If the government determines compensation, then the government will simply replace the corporate boardroom as the locus of struggle for wealth and power.  And in this struggle, the government will favor the rich and powerful, as it does now, only now the disparity will be amplified by state force and become even more difficult to deal with.

The solution of the problem is not the government but the formation and activity of unions and workers’ cooperatives.  If the working class and the poor don’t have the political will to do this then they won’t have the political will to affect the formation of laws regulating compensation.

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By a_worried_dad, January 7, 2010 at 7:59 am Link to this comment

the fat cats on wall street are just like crack addicts —they need the big fix and the risk is at your and my expense, not theirs

they need “parents” to put limits on their abuses and excesses, and just like addicts, they need to fall into the gutter many times before they see the error in their ways and pick themselves up and change (with our help)

while I am not for big government, government is the ONLY way to put limits on these greedy, short sighted charlatan’s

it is insane that we have allowed these mountebank’s to both guard the henhouse (banking) and raise wolves (investment firms) not only on the same farm, but in the same corral

these wall street addicts have wiped out trillions and trillions of dollars of hard working american savings—and those in Washington DC, still sit idly by

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By Ouroborus, January 7, 2010 at 7:57 am Link to this comment

Winghunter, January 7 at 11:41 am
Hey! Everybody wake up and learn what happened!
==========================================
You think you’re Paul Revere? Everybody knows what
happened.
They’re just impotent to do anything about it.
How about you wake up to the reality of now. Nobody’s
doing nothing about anything!

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By Winghunter, January 7, 2010 at 7:41 am Link to this comment

Hey! Everybody wake up and learn what happened!

Larger banks were brought on to make bad loans because the redistribution of wealth and racial reparations wasn’t happening fast enough for the Communists in Congress and drooling RINO’s without a clue. Of course, one must actually care enough to find out what happened to understand.

The Blame Game by Thomas Sowell ( Article, not his new book of the same subject “The Housing Boom and Bust”. )
http://townhall.com/columnists/ThomasSowell/2009/05/13/the_blame_game

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By JohnMcD, January 7, 2010 at 7:32 am Link to this comment

Well, this sounds familiar.  Whoever is out of power is on “your side,” and whoever is in power is on the “corporate side.” 

I’m 110% sure that if McCain had been elected, these roles would have stayed reversed.  The flipping and flopping that partisans put up with makes me seasick just to watch…

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By ardee, January 7, 2010 at 3:44 am Link to this comment

doublestandards/glasshouses, January 6 at 5:22 pm #
(Unregistered commenter)

If McCain were 10 years younger he would kick Obama’s ass in the next election now that people know that all the talk about change was nothing but empty talk.

Maybe, but then nothing at all would change excepting the spelling of the name of our President.

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By Mark E. Smith, January 6, 2010 at 9:36 pm Link to this comment

I’ve been an atheist since I was seven years old and I’ll be seventy in March, but that “weaponized underwear charade” has made a believer out of me.

Remember the photos of naked prisoners being humiliated in Abu Ghraib?

From now on, ALL Americans will be stripped naked and humiliated by those airport machines. There couldn’t possibly be better proof that there is a deity, or karma, or justice, or whatever one wants to call it.

I’ll never doubt again. wink

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By Ouroborus, January 6, 2010 at 9:17 pm Link to this comment

TAO Walker, January 6 at 5:26 pm #
So now comes the part where they pretend to lock the
barn-door….after all the “stock” has already been
stolen?  Well, if the bitch-slap of that weaponized
underwear charade didn’t get theamericanpeople up-in-
arms overnight, the plutoligarchy has every reason to
figure their completely cowed subject/citizenry is so
stockholm-syndromed by now there’s no limit to the
amount of abuse they won’t lie-still for.

From here in Indian Country it looks like the
privateers’ve got the programmed patsies in their
designer-drug-induced stupor pretty-well pegged, too.
=============================================

That’s as right on as it gets.
Americans are about to rediscover serfdom; many are
already there.

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By DieDaily, January 6, 2010 at 9:08 pm Link to this comment

Obama doesn’t get it: true.
McCain does get it: Wha wha wha what? Are you stupid?

So here we go. From fake Dems to fake Reps. Like a pendulum. Forever.

Wake up and vote independent. Both parties are bloated corpses. Neither has ever offered a remedy for the other. How can anyone still not be clear on this?

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By Liquor Store Larry, January 6, 2010 at 7:28 pm Link to this comment

Bottom line is Obama won election in the most clever of disguises. He concealed his idenity by posing as a Democrat and a Black man! A disaster on health care, the best friend lobbyists ever had, a God send to Wall St and beloved to the loony tunes who think we just stop driving cars there wont be any polar bears on melting ice flows! Bottom line folks, only the lamest, dullest, most partisan and intellectually lazy imbecile has not yet realized that WE’VE “BEEN HAD” yet again!

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By Sean01, January 6, 2010 at 6:50 pm Link to this comment

“If McCain now gets it, why doesn’t Obama?”

Because McCain is not sitting in the Big Chair….

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By Pongo, January 6, 2010 at 6:35 pm Link to this comment
(Unregistered commenter)

The comments responding to the article by Mr. Scheer (whom i have read since he
worked on the Los Angeles Times)  show that people realize for the umpteenth
time that peons will continue being fleeced as long as they remain gullible—a
condition mainly brought on via emotional blackmail. (Ex. Me? Oh, God no, I’m not
a racist!) Some very good books are appearing on American stupidity and one of
the best ones just appeared on amazon this week:VIVA LA EVOLUCION. It’s not
turgid. It follows the George Bernard Shaw maxim which states, “if you’re going to
tell people the truth, you’d better make them laugh or they’ll kill you.’ VIVA will
have you laughing at all this stupidity—and perhaps laughter is one way out of it.
Turgid reflections have not produced anything positive. So, maybe it’s time we
laughed at how dumb we’ve allowed ourselves to become via the American
oligarchy. Take it from me, VIVA LA EVOLUCION is a good start.

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By faith, January 6, 2010 at 6:22 pm Link to this comment

Your comment is a GREAT REMINDER Blue Punk !  Thanks.  Yours, as well Prole !
Solid analysis and good writing. 

Mr. Scheer, I am sorry, but both those bloggers won the day.  And, you almost
had me thinking Mr. McCain was a good guy.  Money and power - democrats and
republicans have ruined our republic.

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By Pongo, January 6, 2010 at 6:21 pm Link to this comment
(Unregistered commenter)

The comments responding to the article by Mr. Scheer (whom i have read since he worked on the Los Angeles Times)  show that people realize for the umpteenth time that peons will continue being fleeced as long as they remain gullible—a condition mainly brought on via emotional blackmail. (Ex. Me? Oh, God no, I’m not a racist!) Some very good books are appearing on American stupidity and one of the best ones just appeared on amazon this week:VIVA LA EVOLUCION. It’s not turgid. It follows the George Bernard Shaw maxim which states, “if you’re going to
tell people the truth, you’d better make them laugh or they’ll kill you.’ VIVA will have you laughing at all this stupidity—and perhaps laughter is one way out of it. Turgid reflections have not produced anything positive. So, maybe it’s time we laughed at how dumb we’ve allowed ourselves to become via the American
oligarchy. Take it from me, VIVA LA EVOLUCION is a good start.

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By johncp, January 6, 2010 at 6:03 pm Link to this comment

It’s truly amazing to see the behavior of Clinton haters.  It’s a staple of political conversation in this country, that corporations own our government.  Yet, follow this simple logic: Hillary is a high official in our government.  She should have been the president.  A majority of voters, and a sizable majority of democrats wanted her for the job.  Obama’s handlers were able to obtain the cooperation of a sufficient number of republicans (and most of the big corporate magnates, almost all republicans) to support his candidacy.  He lost the “popular” nomination vote to Hillary, but snuck by in the delegate vote.  If you ask the Clinton haters why they opposed her purusuit of the presidency, they’ll tell you that it was because she was owned by the corporations.  But “every” presidential candidate is owned by the corporations.  If they’re not completely in corporate pockets, they’re efforts to win the presidency are defeated by any humanly or inhumanly possible means, or they’re shot, they’re impeached, etc.  That was the necessary condition that we started with here.  That can’t possibly be the reason they opposed her.  She lied a lot.  Yet no one in the history of presidential politics, has lied as much as Obama.  She made mistakes.  Every presidential hopeful’s political past is full of mistakes.  In fact, all the Clinton haters are so full of shit, it’s hard to believe they can walk. How amusing it is, in the face of this endless vituperation and slander, visited on her by republicans and some moronic dem shitheads, Hillary was declared the most popular woman in the country, when she ran for the presidency, and remains the most popular to this day.  Palin came in second; who only won second place, because, like Obama, hardly anyone knows her.  Whereas, no other woman politician has gotten the intense public scrutiny Hillary has received, and still she’s in first place.

Hillary was, easily, the smarter of the two candidates, the cleverest, the most clear-headed, the best prepared, was far better acquainted with the inner-workings of the presidential office, was as politically engaged as her husband, was more liberal than Bill Clinton or Obama, and, best of all, had the “attitude” we need in a president, instead of the nail-biting, doubt and fear ridden compromiser and capitulator we have in Obama.

I don’t see how it can happen, but I sincerely wish Hillary could run for the presidency in 2012.  She would annihilate every possible competitor, republican or democratic.

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By kares, January 6, 2010 at 4:45 pm Link to this comment
(Unregistered commenter)

the progressives want a naderite agenda, yet didn’t vote for him.  i did, and yet despair.

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By samosamo, January 6, 2010 at 4:26 pm Link to this comment

If anyone remembers the S&L disaster and/or read William Black’s
book ‘The Best Way to Rob a Bank is to Own One’ they will
realize that what the financial terrorists have done up until now
is just the continuation of the S&L disaster and it was a point if
one (or the five senators in cahoots with those S&L crooks) is an
elected official, then he is immune from being prosecuted for
his/her crimes and as sure as the sun rises all 5 of those
senators should still be in prison, meaning mccain, cranston,
deconcini, riegle and john glenn, but now that just can’t happen
anymore, can it, you know, put members of congress in prison?

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By Mark E. Smith, January 6, 2010 at 4:11 pm Link to this comment

Excellent posts, bluepunk and prole.

I suspect that there are quite a few people who are too well cushioned by their prior status and privileges to fully comprehend our descent into hell.

While McCain and Obama had virtually identical Senate voting records and almost indistinguishable agendas, a friend in Germany warned that Obama would be worse for the country because liberals and progressives wouldn’t oppose him regardless of what he did. And that’s exactly what happened.

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By mcmgrany, January 6, 2010 at 3:37 pm Link to this comment
(Unregistered commenter)

Obama, we regret having voted for you. You’re nothing but a puppet for the pharma, insurance, and banking industries.  You have turned your back on us.  You will be defeated in 2012. Go Grayson! Go Sanders! Go Howard Dean!  Any Democrat but Obama!

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By mlb, January 6, 2010 at 2:54 pm Link to this comment

Obama doesn’t get it, or Obama doesn’t care? 

I’m closer to believing the latter these days.  Obama’s rhetoric has become so preposterously out of sync with his policy decisions that I’m forced to conclude he’s just another rotten politician. I can only react with cynicism.

FDR saved the bankers from themselves and saved the American people in the process.  Obama has saved the bankers and left the rest of us out to dry.  But by failing to save the bankers from themselves, I’m afraid he and Congress will ultimately fail to save anyone, including themselves - when our sophisticated keep-em-distracted-consuming-ignorant-apathetic-and-sedated version of fascism/corporatism fails and a sufficient number of Americans really start to hurt. 

The criminals on Wall St. and in Washington are like any recalcitrant criminals.  The more they are allowed to get away with the more arrogant and the more outrageous their crimes become.  It can’t go on forever.

If McCain had made his about face immediately, instead of descending into absurdities about how the deregulation that destroyed our economy has been good for the economy, he might have been elected.  As Naomi Klein has pointed out, it was only after the financial meltdown that Obama began to pull away.

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By LemuelG, January 6, 2010 at 2:39 pm Link to this comment

Do you really expect anyone to read that rant? Try making paragraphs - you should have learnt that by the time you were ten.

Well, this is a good thing right? McCain’s legislation should be supported… surely by now it’s recognized that partisan politics is for morons? (certainly made fools of 95% of the left)

Save yourselves for a politician who actually does the things you want - don’t get on your knees and blow Obama (someone you now know doesn’t care about you), then expect him to change, ha ha.

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By prole, January 6, 2010 at 1:52 pm Link to this comment

“Maybe I got it wrong”…maybe?!! Where does the “maybe” come from? Why is there still even the shadow of a doubt, that you were dead wrong right from the start of the Obama charade.  What is the “maybe” for?
  So “now the roles are reversed, and it is McCain who, along with Sen. Maria Cantwell, D-Wash., has sponsored a bill to repeal Gramm’s legislation, while Obama seeks to preserve it.” Exactly so…they’re “roles”. The Democrats play their “role” and the Republicans play their’s on cue and the roles are fully interchangeable, not reversible. And crusading, muckraking columnists can always find something to fulminate upon – they can play their “role” in the sorry spectacle, too. And everything goes on as before. First you “blast” McCain and then a short while later you blast Obama, for the exact same thing, and back and forth it goes. Both ends in synch in preserving the status quo, with their sputtering, impotent pundits in the press firmly in tow, everybody making out in the same self-serving game. It was the Democrats, after all, back in the New Deal era that originally passed Glass and then a few decades later it was the Dem’s in the Cut-a-Deal era who repealed it. Democrats have been pretty generous in easing taxes on the rich, too. Carter gave the rich the most prized tax cut they could desire, a capital gains tax cut in 1978, from 39 to 28 percent. Clinton took it down even further in ’97 to 20%; despite the fact that there is no historical evidence that cutting the capital gains tax spurs economic growth. Cuts have usually been followed by economic downturns and reductions in saving and investment. And there was no stimulus needed at the time anyway as the economy was already still expanding, at least temporarily.  It was a pure giveaway to the investor class, followed two years later by the repeal of Glass. Further, Clinton eliminated the capital gains tax on most homes, instigating the housing bubble, which turned into a housing bust, that is a primary cause of the current financial crisis. Bush II cut capital gains taxes another 5% to 15%. Obama has proposed returning them to the already-low Clinton level of 20% in the two top tax brackets, which is his idea of “fairness”. He also recently proposed in his Jobs Creation and Economic Growth Speech at the Brookings Institution on December 8, “a complete elimination of capital gains taxes on small business investment along with an extension of write-offs”. This could well take the shape of small businesses putting their efforts and resources into tax shelters instead of productive enterprises. They could convert other income into tax-free capital gains by buying assets and then selling those assets to get tax free capital gains. As for McCain, during his losing presidential campaign, he had actually proposed cutting the capital gains tax in half to 7.5%! He also wanted to make the rest of Bush’s generous tax cuts for the rich permanent when they expire after this year. Not to mention keeping troops in Iraq “forever” if need be.
“Although Obama has blasted ‘fat cat bankers on Wall Street’ it is time for those who elected him to ask for more than rhetoric”…but those who made the mistake of electing him have no leverage over him, so they might just as soon ask for a single-payer health plan or a withdrawal from Afghanistan or a full-employment bill or an end to aid to Israel or a slashing of the Pentagon budget or….dream on! “There is much logic” in all of that too and much else but it’s not what Democrats and Republicans are ‘elected’ to do. Doesn’t Scheer “get it”?

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By TAO Walker, January 6, 2010 at 1:26 pm Link to this comment

So now comes the part where they pretend to lock the barn-door….after all the “stock” has already been stolen?  Well, if the bitch-slap of that weaponized underwear charade didn’t get theamericanpeople up-in-arms overnight, the plutoligarchy has every reason to figure their completely cowed subject/citizenry is so stockholm-syndromed by now there’s no limit to the amount of abuse they won’t lie-still for.

From here in Indian Country it looks like the privateers’ve got the programmed patsies in their designer-drug-induced stupor pretty-well pegged, too. 

HokaHey!

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By doublestandards/glasshouses, January 6, 2010 at 1:22 pm Link to this comment
(Unregistered commenter)

If McCain were 10 years younger he would kick Obama’s
ass in the next election now that people know that all
the talk about change was nothing but empty talk.

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By Jon, January 6, 2010 at 12:55 pm Link to this comment
(Unregistered commenter)

Obama’s corporatist/banking fealty is beyond disappointing, it’s infuriating.  Look at his economic team:  Summers, Geithner, and in the background Rubin—-the very people who pushed the Gramm act in 1999 and who pushed BACK on the idea to regulate derivatives then. 

Here is what then Treasury Secretary Summers said in 1999 in the aftermath of Clinton’s signing the Gramm act:

“At the end of the 20th century, we will at last be replacing an archaic set of restrictions with a legislative foundation for a 21st-century
financial system.” The measure, he added, “would provide
significant benefits to the national economy.”

Then President Clinton said:

“it will strengthen the economy and help consumers, communities and businesses across America.”

Source: 1999 NYT article:
http://partners.nytimes.com/library/financial/102399banks-congress.html

Obama has to be totally on board with what we see happening—-America twists in the wind, but the BANK of America and it’s cronies get trillions at zero percent interest to acquire banks, to invest in the markets, to pay bonuses.  This is not a mistake by Obama—-he knows what is going on and supports it.  This is the reality we face—- a banking president who is indifferent to America and its citizens.

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By coco, January 6, 2010 at 12:14 pm Link to this comment

Samson, it was still a republican sponsored bill.
djnoll, there will never be a perfect president, but if I ever had the chance to correct mistakes with a pair of ACES in the hole, I would of been smart enough to vote for a Clinton.

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By gerard, January 6, 2010 at 12:13 pm Link to this comment

McCain was stupid enough to permit Palin to run with him as his vice-prsident.  Obama was stupid enough to continue the wars in the Middle East.  Both men gave strong hints before the election as to what we might expect.  Presumably, they each thought they could get away with it because nobody seriously questoned their behavior, nobody insisted on knowing why.
  Next time?  Maybe pay closer attention to the early signals and question candidates’ stupid moves in order to flush them out of the bushes before the election.
  Mr. McCain, just why are you willing to run with this obviously ignorant lady who winks and says “you betcha”?  Mr. Obama, just why do you consider it necessary for the US to have 800 military bases all over the world and to have tens of thousands of American soldiers fighting radical Islamic factions in the M.E. by bombing innocent villagers with technologies they have no way to resist?
  Or words to that effect.  Nest time watch for the stupid things politicians do and say before they get elected. What if, for instance, the bumptious Mr. Lehrer had asked in the “debates”: “Mr. McCain, Mr. Obama:  What do you think of the present power of the military-industrial complex over Congress and the courts?” (Given 3 minutes, they might both have cooked their gooses.)
  You get the idea.  Turning over tables and chairs is one thing.  But there’s a lot else we can do next time around, instead of being supine recipients of political bull waiting for it to be over so we can get back to figuring out whether to take both cars to the beach. There is no substitute for citizens’ constant political activism, and carping afterward if we did nothing before doesn’t help. It may be healthy to vent, but it doesn’t change anything.

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By c.d.embrey, January 6, 2010 at 12:08 pm Link to this comment
(Unregistered commenter)

From day one I’ve been saying that Obama was farther to the right than
Clinton. I’ve also been saying that Obama was farther to the right than
McCain. Now some people are starting to notice.

If Obama got rid of EMANUEL, SUMMERS or CLINTON, nothing would
change. Obama is getting just what he wants. Things like bailing out
Wall St while sticking Main St with the costs, a health care act that
helps the Insurance industry more than it helps the people of the US.

Obama was the ultimate stealth candidate. The left supported him and
the left are the big losers, but many on the left still thinks he walks on
water..

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By Mark E. Smith, January 6, 2010 at 12:05 pm Link to this comment

Barack’ll Bombya has brought hope for change to the U.S.

A recent survey found that 45% of Democratic voters have decided not to vote in 2010 or are thinking about not voting.

At a time when Congress had no more than an 11% approval rating, the Democrats and Republicans ran two sitting Members of Congress for President and the half the electorate stupid enough to vote, valiantly attempted to choose the lesser evil.

Our Constitution ensured that once elected, we would have no way to hold our officials accountable. No sane person delegates their authority to anyone they cannot hold accountable. Even if they weren’t, by the mere act of voting, granting their “consent of the governed” to a government engaged in torture, wars of aggression, and crimes against humanity, voting for people they cannot hold accountable proves that people who vote are criminally insane.

Nelson Mandela, Hugo Chavez, the former Tupamaro guerrilla just elected President of Uruguay, and others who have helped to bring about more democratic forms of government, all served time in prison for opposing the oligarchy. Those willing to work within the system, even those affiliated with third parties or who run as independents, will not and cannot bring about change. The system must be opposed—to work with it or within it is treason to democracy.

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By ofersince72, January 6, 2010 at 11:41 am Link to this comment
(Unregistered commenter)

have to go through this again,,,

Hey to ANOTHERAGOSTIC,

THATS WHAT YOU GET AND i TOLD YOU SO !!!!!!!!!!!

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By LarryGFremont, January 6, 2010 at 11:21 am Link to this comment
(Unregistered commenter)

“...the face value of over-the-counter derivatives at commercial banks has grown
to $290 trillion.” Wow. Where did _that_ money go?

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By John A Di Risio, January 6, 2010 at 11:00 am Link to this comment
(Unregistered commenter)

There is sooo much i could say!!! but may do so at another time. I saw Chris
Hedges in SYracuse N.Y. I brought 5 of them, his books, even though i could
hardly afford them. I’m sure Chris c ould use the money! I had him sign to my
Daughter Emily and me.          EMiLY is in college and I don’t know what
infulences she has been under,or how her thinking may be compared to my
principles and beliefs at this time. she is her own person.Chris is a great
person,his books are fantastic & I hope to buy and read the rest. AS we are all
aware, the answer is in educating the public -spreading the word,” the truth”
and ultimately—action—-in the voting booth—and organzing to put pressure
on our present elected officials. I look forward to receiving the Email
newsletter.LET me know of any opportunitiers where I may be of any help. I am
presently computer illiterate,but will be learning(hopefully).    John, I pray that
“THE POWER OF THE POWER” and"THE MYSTERY OF THE MYSTERY” will help us.
Bless YOU-all of you-for Truthdig,L.L.C.!!!!!!!!!!!!!!!!!!!!!!!!!!
Thank you Robert Scheer& Zuade Kaufman &your; Staff—as with all your
articles McCain gets it,Obama doesn’t shows what a traitor ObaMA IS TO THE
PEOPLE AND THE CONSTITUTION, THIS BS about humble beginings and giving
up a lucerative wallstreet career to go to chicago & work in the slums with the
poor and under perlivileged, he should be put on trial for sedious acts and
failing to represent the good people in this country!!!!AMEN!!!!!

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By John A Di Risio, January 6, 2010 at 11:00 am Link to this comment
(Unregistered commenter)

There is sooo much i could say!!! but may do so at another time. I saw Chris
Hedges in SYracuse N.Y. I brought 5 of them, his books, even though i could
hardly afford them. I’m sure Chris c ould use the money! I had him sign to my
Daughter Emily and me.          EMiLY is in college and I don’t know what
infulences she has been under,or how her thinking may be compared to my
principles and beliefs at this time. she is her own person.Chris is a great
person,his books are fantastic & I hope to buy and read the rest. AS we are all
aware, the answer is in educating the public -spreading the word,” the truth”
and ultimately—action—-in the voting booth—and organzing to put pressure
on our present elected officials. I look forward to receiving the Email
newsletter.LET me know of any opportunitiers where I may be of any help. I am
presently computer illiterate,but will be learning(hopefully).    John, I pray that
“THE POWER OF THE POWER” and"THE MYSTERY OF THE MYSTERY” will help us.
Bless YOU-all of you-for Truthdig,L.L.C.!!!!!!!!!!!!!!!!!!!!!!!!!!
Thank you Robert Scheer& Zuade Kaufman &your; Staff—as with all your
articles McCain gets it,Obama doesn’t shows what a traitor ObaMA IS TO THE
PEOPLE AND THE CONSTITUTION, THIS BS about humble beginings and giving
up a lucerative wallstreet career to go to chicago & work in the slums with the
poor and under perlivileged, he should be put on trial for sedious acts and
failing to represent the good people in this country!!!!AMEN!!!!!

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By GW=MCHammered, January 6, 2010 at 10:40 am Link to this comment
(Unregistered commenter)

Wasn’t McCain one of the big de-regulators that helped cause this mess? Now he wants to save us from his monstrous creation. But then, that’s how capitol hill dysfunctions ... like tv’s bad reruns.

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By FreeWill, January 6, 2010 at 10:36 am Link to this comment

Mr. Scheer is being way too polite in this argument for accountable government.  We the people, have been had by BOTH political parties.  Obama has just been more skilfully and eloquent about pulling off the con job.

These Corporate whores will say or do anything to get elected but once elected it’s business as usual.  Many people put great hope in Obama and believed the rhetoric, and are now seriously disappointed with the reality.  These people need to need to admit that they have been used and show their dissatisfaction and stop making excuses for the administration’s inaction on key issues.  The situation America is in a far too critical to continue on in this delusional manner.

It’s high time that we demand the changes that we have been promised over and over again by these corrupt politicians.  To begin with we must support third party political candidates who actually represent us. Moreover, Campaign Finance Reform is essential.  If we are ever to have representative government, the money flow from the elites must be severed.  Until this is done we will always have the best government money can buy.

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By felicity, January 6, 2010 at 10:32 am Link to this comment

America’s financial sector in the ‘70’s and ‘80’s was one-fifth as big as the total profits of America’s non-financial firms.  After 2000, it was about one-half as big.  (Seems incomprehensible except when it’s recalled that a former Bear-Stearns employee, alone, made over $3 billion in ‘07 by shorting subprime mortgages.)

It’s not coincidental that the end of Glass made this revolting development possible.  It’s also a good guess that given the Street’s new too-big-to-fail status, the return of Glass would cause it’s implosion. (I love the idea but I don’t think the country’s economy could survive it.)

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By djnoll, January 6, 2010 at 10:21 am Link to this comment

I guess McCain has seen how his vote in 1999 for the Gramm bill has caused harm in this nation, and how his support of all that followed is going to cost him dearly in November.  I am glad to see my Senator, Maria Cantwell, is willing to stand up to Harry Reid and Nancy Pelosi with a bill that should be put in place immediately.

As for President Obama, here is my message to him:

IF I HAD WANTED ANOTHER CLINTON IN THE WHITE HOUSE, I WOULD HAVE VOTED FOR ONE!  CLEAN HOUSE, MR. PRESIDENT, AND START WITH RAHM EMANUEL AND HILARY RODHAM CLINTON.  THEN MOVE ON TO THEIR LOBBYIST STAFFS AND POLITICAL ADVISERS.  PUT IN PLACE THOSE PEOPLE WHO SUPPORT THE AGENDA YOU RAN ON, AND IF THIS FORCES THE DNC TO SCREAM, LET THEM SCREAM.  TRY BEING A LEADER, SIR, INSTEAD OF THE CLINTON N***** IN OUR WHITE HOUSE, BECAUSE THAT IS WHAT IT LOOKS LIKE YOU ARE FROM HERE IN THE REST OF THE COUNTRY!  THE NATION ELECTED YOU BASED ON WHAT YOU SAID WHEN YOU CAMPAIGNED, AND NOW WE EXPECT YOU TO LEAD, SIR! VETO THE HEALTH CARE REFORM BILL AND GO AFTER THE BLUE DOGS AND REPUBLICANS WHO GUTTED IT!  SUPPORT CANTWELL’S AND McCAIN’S BILL TO RE-REGULATE THE BANKS! PUT JOBS FIRST, NOT SPECIAL INTERESTS!  IN SHORT - YOU ARE THE PRESIDENT OF THE UNITED STATES, NOW START ACTING LIKE IT!

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By Big Wes, January 6, 2010 at 10:03 am Link to this comment

Uh, if you haven’t figured it out yet, Obama is owned lock, stock, and barrel by the banking industry.  Banking interests contributed more to his campaign that to McCain’s.  And if you think that it’s a coincidence that Obama passed on several more prominent Democratic figures for his VP choice to select Biden, who has earned the nickname “The Senator from MBNA” through his shady real estate deals with MBNA execs and supported weakening bankruptcy laws in favor of the banks, then you are delusional. 

Obama wouldn’t—and most likely couldn’t—bite the hands that feed and control him.

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By Samson, January 6, 2010 at 10:02 am Link to this comment

The news network that has to loudly proclaim itself as ‘fair and balanced’ is undoubtedly neither ‘fair’ nor ‘balanced’.

A political candidate that has to loudly proclaim himself as the candidate that is for ‘hope’ and ‘change’ is undoubtedly not going to produce either ‘hope’ nor ‘change.’

The candidate that is really for ‘change’ doesn’t have to stand under a 40-foot high banner that says ‘Change’.  Someone like Paul Wellstone never had to post the word ‘change’ on the front of his podium for you to know what he stood for.

Never vote for the candidate with money.  Which means, never vote for the candidate you see on TV.  The politician who will represent your interests is the person who’s so broke that they need to ask their supporters for a lift in from the airport and a place to stay a night while they are in town.  And, you’ll never see this candidate on TV, unless they start to do well enough that the corporate TV types start to attack and ridicule them.

Be smart about who’s on your side, and who isn’t.

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By Samson, January 6, 2010 at 9:54 am Link to this comment

We need to permanently separate ‘the left’ from the Democratic Party.  Surely its clear by now that the Democrats in no way support any ideas or views of the left, and usually attack the left and deride it .... that is when its not election time and then the Democrats are lying their rears off pretending to be leftists to con our votes out of us again.

Its time to separate the left from the Democrats.  Its time for anyone who believes themselves to be left of Reagan to leave the Democratic Party.

And politically, the best thing to do right now is to attack the Democrats head on with independent candidates in every close race.

Our slogan should be .... “Kick the Democrats in the nuts in 2010!”

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By b-political, January 6, 2010 at 9:48 am Link to this comment
(Unregistered commenter)

The worst fears of the Founding Fathers have quickly becoming realities.

B

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By Samson, January 6, 2010 at 9:43 am Link to this comment

To those that want to blame Republicans for Gramm-Leach ...

President Clinton signed the bill.  Happily.  His statement that he made when he did so is available on line to those who will take off their partisan glasses.  http://www.ustreas.gov/press/releases/ls241.htm


“PRESIDENT CLINTON: Stay right there, John! (Laughs.) I asked Phil on the way out how bad it was going to hurt him in Texas to be walking out the door with me. (Laughter.) We decided it was all right today. Like all those before me, I want to express my gratitude to those principally responsible for the success of this legislation. I thank Secretary Summers and the entire team at Treasury, but especially Undersecretary Gensler for their work, and Assistant Secretary Linda Robertson. And I thank you, Chairman Greenspan, for your constant advocacy of the modernization of our financial system. I thank you, Chairman Levitt, for your continuing concern for investor protections and I thank the other regulators who are here. I thank Senator Gramm and Senator Sarbanes,”


Doesn’t exactly sound like he was upset at having to sign it, now does it?  Follow the link, and in typical long-winded Bill-fashion, there’s lots more of just how incredibly happy he was to sign the bill to make his Wall Street backers and his Wall Street cabinet (Larry Summers was Treasury Sec and features prominently in these ceremonies) happy.

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By Tragedy, January 6, 2010 at 9:38 am Link to this comment
(Unregistered commenter)

The Glass-Steagall Act had protected us from what we
have currently witnessed. I have just finish reading
Too Big To Fail, and I am shocked at what little regard
these men controlling our banks have for this Country.
All they cared about was lining there pockets with
cash. They did to the country what Bernie Madoff did to
his investors. It is appalling the amount of greed.
Phil Gramm said it right after this started to unfold.
“Stop your Winning and get on with it.

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By Samson, January 6, 2010 at 9:36 am Link to this comment

Of course, McCain doesn’t really get it.

The scam of American politics is that the opposition party criticizes stuff like this, while the party in power of course does whatever Wall Street wants.

When the parties change power after an election, they just swap scripts with each other as they pass each other in the hallway.

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By glider, January 6, 2010 at 9:35 am Link to this comment

One last thing Robert.  The question of “why doesn’t Obama get it”? is a clear sign you are still suffering from Hope-a-Dope.  There is no evidence that Obama is stupid and doesn’t know exactly what he is doing.  For our sake, please give him the benefit of the doubt.

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By Samson, January 6, 2010 at 9:35 am Link to this comment

Back in 1992, I volunteered for the Clinton campaign, and celebrated long into the night when the 12 years of Reagan/Bush was over.

By 1996, I was looking for an alternative.  Because back then I’d learned the same lesson that any current Obama-mites are learning now.  That is when these modern Democrats campaign, they tell any lie they can to win an election. Then when they govern, they govern hard to the right and do anything that corporate money wants them to do.

The only difference with Obama is that he has enough sense not to rent the Lincoln Bedroom out to the wall street bankers.

The question is, how many Obama-voters are going to learn the same lesson this time around?  That is that there is no difference between these two parties.  And that anything the Democrats say during elections to try to pretend there is a difference is usually a lie.

I live in what was a battleground state in the last election.  So, I was blasted by ad after ad after ad, paid for by $700 million of corporate money, that featured Obama promising to take on the big banks.  Yeah right.  When you realize it was the banks that were paying for that ad, you start to see the con.

The Democrats are not the answer.  Voting Democrat does not lead to change.  Do a Bart Simpson and write this on a blackboard a 100 times so you get the message.

The best thing the ‘left’ or ‘progressives’ or anything else you want to call us could do right now is to attack the Democrats head on.  Target all their incumbents in really close races and run independent campaigns to defeat them.

The trick is to make it obvious that when the Democrats lose their House majority in 2010, that it was an angry left that caused this.  Then, you can be the Democrats will in the future do at least a little more to appease the left in the future. 

That’s not utopia, but its better than what we have today.  And, running a bunch of independent campaigns that attack the Democrats for being Wall Street’s allies, for escalating the wars, for screwing us on health care .... well, that sounds like a really fun way to spend the next year.

Type something like ‘close hot house races 2010’ into Google and you’ll find web pages that summarize all the close races.  The ones with Democrat incumbents are your target list.

Kick the Democrats in the nuts in 2010!

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By glider, January 6, 2010 at 9:17 am Link to this comment

You know, there were a few times in the past that I wondered what would happen if a total fraud ran for President and won.  I used to think, well what accountability mechanism is actually there to keep them honest?  Well, Obama has answered that question as absolutely f***ing nothing.  The only comfort I have now is that I can’t say this whole spectacle isn’t entertaining!  And if he can’t save us from his Corporatist funders, at least he can save us from those Underpants Bombers.  And to think we are nation building 2 countries!

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By Liquor Store Larry, January 6, 2010 at 8:51 am Link to this comment

We’ve been had yet again. Only the most brain dead partisan is clinging to “HOPE”. This guy is the worst of the worst and he sold it in the cleverest of packages. Who knows, maybe HE IS the anti-Christ after all. LMAO!

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By Liquor Store Larry, January 6, 2010 at 8:48 am Link to this comment
(Unregistered commenter)

I and several of my black friends wept the night Obama spoke at Grant Park in Chicago not only having broken centuries old racial barriers but believing we had launched the dawn of a new day ........ WRONG! The American left is slowly awakening to the painful reality that we have, once again “BEEN HAD” but this time it just came in a new package.

Only the most brain dead hero worshipping “see what you believe instead of believing what you see partisan” could refuse to recognize that we ELECTED THE WRONG GUY YET AGAIN!

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By G.Anderson, January 6, 2010 at 8:45 am Link to this comment

As usual, the poli-chickens believe, that their collusion with corporate slavers will save yet another industry from collapse.

But derivatives depend on the debt slavery of the masses, someone has to service that debt by long hours of work at low wages..

In case they haven’t noticed, consumerism is about dead, there were 1.4 million bankrupcy’s in 2009, 2010 is going to be even worse including many comercial real esate companies, and millions are tearing up credit cards, and avoiding taking on any more debt..

In a year or two it’s really not going to matter, this country will be bankrupt, and all the great dreams of an outraged public will come true.

We simply won’t have the money to do anything but open a can of beans every once and a while, as we sit around an empty oil drum, burning refuse for heat, this is America’s future and it’s not too far ahead.

The corporate crooks believed they could take and take and take, from the people forever, without hitting bottom, they were clueless..

If you don’t have a tent…it’s a good time to get one…

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By AnotherAgnostic, January 6, 2010 at 8:11 am Link to this comment

I was very excited about Obama and even sent money to support his campaign.  I still have hope for him but it’s getting harder everyday.  With not pulling out our troops from the middle east, not getting rid of the patriot act and now this… It’s just so depressing. 

Its becoming obvious to myself at least that our wonderful experiment has failed.  The republic has not become a corporations.  This really is a bummer.

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By bozhidar, January 6, 2010 at 7:53 am Link to this comment
(Unregistered commenter)

Getting rich as u can appears a constitutional OK or even demand. So? We can forget ab what mccain said then or says now.
I think the bankers also know they r not doing anything illegal or even immoral.
tnx

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By don knutsen, January 6, 2010 at 7:45 am Link to this comment
(Unregistered commenter)

I question the heading of the article in the first place. If McCain “gets it”, then why was his economic advisor none other then Phil ( let’em run wild ) Graham ?

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By coco, January 6, 2010 at 7:44 am Link to this comment

Under President Clinton, the republican party sponsored and passed the Gram Leach Bliley Act which ended 70 years of honest banking and opened the door to their second move of passing new regulation a year later in the Financial Modernization Act which I’m sure was sponsored by the republican party possibly under a republican president.
Unfortunately the writer of this story has forgotten to mention who sponsored and controlled the White House during the Financial Modernization Act passage. More than likely it was the republican party putting the finishing touches on one of their dirty scenarios of events that brought us to the pilfer and bailouts of the world banks.
The republican party led the charge on the Clinton White House with one investigation after another. Ending with around 160 million in cost to the tax payers and nothing more than Monica to show for it. The real purpose of all the investigations were to deter the progress of a real president. The republican party didn’t want to see a surplus of good jobs and the national debt declining. To many people would of got their life back and started to notice that the republicans were nothing more than cheats and liars. And don’t forget that the nuclear option was constantly threatened while they passed bill after bill and totally ignored the democrats. Most of the crap that came out of the Clinton White House was a result of republican stink tanks especially designed to discredit the Clinton White House. SNewt Gingrich and his party misewell of had President Clinton cornered at gunpoint considering all the dirty politics that they were playing.
One thing for positive, the republican party knows that the Clinton family and President Gore know how to run this country. Special interest knows it too. And that’s why none of them will ever make the White House.
You’ll get more truth out of Ed Schultz and Obbermann than you will out of all of Fox and any right winger.
Research the meaning of LIBERAL and re register as an independent or liberal independent and vote against a republican.
Until I see Obama’s finished package I’ll take this story and the majority that I hear from The Altoona mirror as the partisan rubbish that it is.

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By pundaint, January 6, 2010 at 7:39 am Link to this comment

Wow, Mr McCain was having a brief lucid moment.  Was this before he went to
Iraq to criticize our courts over there?  McCain has become like Gump’s
chocolates.

Our President is letting the People of America down on everything having to do
with the Financial sector.  Too much continuation of the new economy.  How did
voodoo economics become the Democrats creed too? 

America can no longer maintain bases in the majority of countries on Earth,
prop up corrupt Bankers,  Health Insurers, Fossil Fuelers, vendors of cheap
goods, and govern in the interests of the People.  How is it that the only ones
with votes are the only ones not being served?

At least the next two elections will be easy choices: incumbents = no!  The
Republicans have resigned from their duties, and the Democrats have baited and
switched us.  Note to budding politicians - this might be your year,

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By ofersince72, January 6, 2010 at 7:37 am Link to this comment
(Unregistered commenter)

I just wonder what investment company saw Obama
graduate from Harvard and started grooming him to
be their hack, do the right things, write some
memoirs young man, make it about Audacity, to a little community work , get the prog vote, we will
hook you up teaching constitutional law get the
libiterian vote. We got your bases covered, you
will be a U.S. senator at a young age, and the very
first black president.  Don’t get CAUGHT cheating on
your wife, this may ruin our career. You will be
a millionaire for life young man

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By Zack, January 6, 2010 at 7:36 am Link to this comment
(Unregistered commenter)

The best way to reform the banking system is to
completely remove the government guarantees that are
creating so much moral hazard in the system. Let the
banks fail when they act irresponsibly, and the owners,
investors and depositors will force sound banking
practices better than government regulations can ever
hope to.

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By omygodnotagain, January 6, 2010 at 7:10 am Link to this comment

Why did Obama surround himself with these shady Wall Street Jews, Summers, Rubin, Bernachie..they hate goys like Goldman Sachs lot do…they are scam artists, in the mold of Milliken and Madoff.

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Ouroborus's avatar

By Ouroborus, January 6, 2010 at 7:10 am Link to this comment

Anarcissie, January 6 at 10:26 am

Anarcissie gets it; never ever, ever believe a
politician again! Betrayal is the cruelest form of
behavior.
There’s only one thing politicians understand; citizens
going to the streets.
How come ya’ll don’t do that anymore?

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By SuGee, January 6, 2010 at 6:47 am Link to this comment
(Unregistered commenter)

Like GMarks, I’ve been thoroughly disgusted with Obama’s performance as president.  I didn’t buy his campaign promise of “Change!” because he wouldn’t describe what that word mean’t. But when he didn’t immediately arrest the war criminals on the stage on Jan 20th, 2009; I knew he was just going be another fat cat with a different color of skin as the only “Change!”  I’m certainly glad I don’t have children.  It would be very difficult to try to explain the corruptness of our government as anymore than business as usual.

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By ofersince72, January 6, 2010 at 6:31 am Link to this comment
(Unregistered commenter)

Hey Montanawildman, like your posts, your pretty
down to earth.  I would never refer to Obama in
such a manner yet i have little to no respect
for him,  he ran on a lie, he is a lie.

His health care proposal even when he was a candidate
was an insurance company proposal that he wouldn’t
expose, we had to dig.  He led the mainstream public
on.
He has never fooded me for a minute and has made
it harder for the next black candidate.  I didn’t
do the “feel good” vote, which is what the DNC was
going to throw at us with either a first woman or
a first black. Anyone that calls himself a progressive of is more informed than mainstream that
voted Dem. for Obama wanted the “feel good” feeling
rather than real change.  He never offered Hope, just
spoke it.

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