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May 19, 2013
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 Obama Pulls a ClintonPosted on Jan 19, 2011
Here we go again. When Bill Clinton suffered an electoral reversal after his first two years in office, he abruptly embraced the corporate money guys who had financed his congressional opposition in an effort to purchase a second term. On Tuesday in his Wall Street Journal Op-Ed piece, Barack Obama veered sharply down that same course, trumpeting his executive order “ ... to remove outdated regulations that stifle job creation and make our economy less competitive. …” He employed the same “creating a 21st-century regulatory system” rationalization used by Clinton when he signed off on the sweeping deregulation legislation that unleashed the Wall Street greed that ended up being the biggest job-killer since the Great Depression. “Over the (past) seven years, we have tried to modernize the economy,” Clinton enthused as he signed the Financial Services Modernization Act that repealed key New Deal legislation, adding, “And today what we are doing is modernizing the financial services industry, tearing down those antiquated laws and granting banks significant new authority.” Modernizing was the propaganda constant, as in the Commodity Futures Modernization Act that Clinton signed, thus shielding financial derivatives from any government regulation. That deregulation, as Obama concedes in his WSJ column, led to “a lack of proper oversight and transparency (that) nearly led to the collapse of the financial markets and a full-scale depression.” But Obama now promises that his deregulation efforts will be more sensibly targeted and will “bring order to regulations that have become a patchwork of overlapping rules, the result of tinkering by administrations and legislatures of both parties and influence of special interests in Washington over decades.” When he wrote that he intends to accomplish this revamp “with more input from experts, businesses and ordinary citizens,” did he have in mind his two new key White House advisers who were the most effective advocates for those special interests? Tom Donilon, Obama’s national security adviser, was the Washington lobbyist for the housing behemoth Fannie Mae, which will cost taxpayers $700 billion because of its marketing of toxic derivatives. Obama’s new Chief of Staff William Daley was the lead Washington representative for a similarly afflicted JPMorgan Chase. These are the folks, along with many other Wall Street alums in this administration, who will oversee the latest update of already weakened regulations. The first target will be the administration’s puny efforts to protect consumers: “The move is the latest effort by the White House to repair relations with corporate America,” the Wall Street Journal’s report on Obama’s column stated, “Business leaders say an explosion in new regulations stemming from the president’s health-care and financial regulatory overhauls has, along with the sluggish economy, made them reluctant to spend on expansion and hiring. Companies are sitting on nearly $2 trillion in cash and liquid assets, the most since World War II.” Advertisement Fixing housing would require efforts to keep the 50 million Americans whose mortgages are underwater in their homes. But the government bailouts under both George W. Bush and Obama have not required any significant cramp-down or reappraisal of mortgages by banks to enable people to stay in their homes. Instead the Fed and Treasury have flooded the banks and top corporations with cheap money and bailouts but, in the classic problem of pushing on a string, the corporate ingrates are hoarding that money. Obama, and the party he heads, failed to provide a progressive narrative during November’s election holding the financial elite that created this mess responsible. The key issue is not big government or onerous regulation but rather transparency and fraud prevention. When you are evicted, it is a government agent, a marshal or sheriff, who will force you out, so shouldn’t the government also be involved in assuring that the consumer is protected by a properly vetted contract? Instead the U.S. Chamber of Commerce spearheaded the marketing of an alternative narrative, as successful as it was devious, by Republican candidates that held regulation—rather than deregulation—responsible for the mess. Now Obama seems poised to join their ranks. As the WSJ reported: “On Feb. 7, Mr. Obama will visit the U.S. Chamber of Commerce—a chief opponent to his administration’s regulatory approach—for a discussion on how the White House can work with the group to create jobs. The efforts are designed to give companies more confidence in the president’s stewardship of the economy, and bolster his re-election prospects among a wealthy constituency not traditionally allied with Democrats.” A constituency that Daley, Obama’s new chief of staff, can faithfully represent, having received $5 million a year from JPMorgan Chase. And so ends the season of hope for the less wealthy constituency traditionally allied with Democrats.
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By MarthaA, January 19, 2011 at 1:48 pm Link to this comment
gerard, January 19 at 6:15 pm,
It is necessary to have the proper amount of government for the citizenry, banks usury regulations, private corporation regulations, and Julian Assange’s Wikileaks for the protection of the American Populace against that government’s secrecy, to avoid our nation falling more deeply into fascism, which is government operated by private corporations with a religious facade.
Report thisBy scotttpot, January 19, 2011 at 1:38 pm Link to this comment
The ‘American people’’ seem nostalgic for the good old days 2000-2008.
Report thisIf my recollections are correct that was a time of economic security and
low unemployment.There were some wars and torture but consumer
confidence trumps peace and decency.
By norman harman, January 19, 2011 at 1:36 pm Link to this comment
(Unregistered commenter)
Watch the primaries carefully.
Pick your candidate according to two criteria: progressive policies and refusal to
accept corporate funding.
Vote for them.
If we VOTE AGAINST THE MONEY! consistently enough, we will slowly gain our
country back. It’s our last and only option.
VOTE AGAINST THE MONEY!
Report thisBy Napolean DoneHisPart, January 19, 2011 at 1:34 pm Link to this comment
Let’s not allow the PTB to “assange” anyone.
Silence is NOT golden on this stage.
Report thisBy Napolean DoneHisPart, January 19, 2011 at 1:26 pm Link to this comment
Don’t “assange” me.
Report thisBy gerard, January 19, 2011 at 1:15 pm Link to this comment
Hear! Hear! “The key issue is not big government or onerous regulation but rather transparency and fraud prevention.”
Report thisEchoes of Julian Assange and WikiLeaks!
Hear! Hear!
By LetIdB, January 19, 2011 at 1:01 pm Link to this comment
Canada and England have parliamentary systems in which there are more than
two parties that can represent and legislate for the electorate. There is nothing
in our Constitution that prohibits a parliament. The impediments to having
one, however, are formidable: our entrenched two parties, the power of big
corpo with its newly won “citizenenship,” mass (corpo) media, and, saddest of
all, we the people (who consistently have been spun against Dennis Kucinich,
Ralph Nader, the Green Party, the Peace and Freedom party, etc.). Indeed, the
largest ground swell of our “populism”—the Pee Party—is a shill for big corpo.
Our challenges are to flat out abandon the Rethuglicans and Rethuglican-Lites,
Report thisand vote our consciences. Big corpo cannot make us do otherwise. Slowly,
over years, we can make change. The hurdle will be to convince our fellow
citizens that it is not in their best interest to believe in or support the status
quo: a health care philosophy that enriches the unnecessary private insurance
companies, a financial industry with few if any regulations, “shock and awe,” ad
nauseum.
By oddsox, January 19, 2011 at 12:44 pm Link to this comment
..and speaking of Clinton:
How’s Hillary these days?
Report thisYou don’t see or hear from her so much as 2008 and before.
But she was on Today this morning.
Her smile seems a bit wider these past couple years…
By Napolean DoneHisPart, January 19, 2011 at 12:17 pm Link to this comment
Good reporting Robert.
Very Informative.
At least we know what to expect from our (s)elected officials, and ‘that’ is a step forward in dealing with this ‘leadership’ from ‘both hands’ ( left and right party ) of the same entity.
More true journalists and real reporters need to be working FULL TIME just to keep up with the quackery and mockery of justice, the flood of laws and tons of code added to the books from one day to the next… and the populous hasn’t a clue ( nor will ever, I suppose ).
I wonder, if with so much unemployment, why hasn’t the Amerikan people risen up against its Tunisian-Type government?
Are U.S. Citizens ‘that’ lazy, stupefied and ignorant of their immediate danger?
I guess what is present here and not Tunisia is our lasting freedom to bear arms… to keep tyranny from entrenching a foothold… yet that freedom too has been numbed down and used against the psyche of the American people, turning them into Amerikans, who ‘can’ do nothing.
Report thisBy DavidByron, January 19, 2011 at 12:05 pm Link to this comment
Obama is a right-winger. Good grief, why can’t you just say it? He’s on the far right.
Report thisBy Charles M Carter, January 19, 2011 at 11:54 am Link to this comment
(Unregistered commenter)
I’m pleased at all the mention of the Green Party. I feel totally let down by Obama who looks more and more like a Republican on a seemingly daily basis. We need to say a not so fond farewell to both parties and the Green Party would certainly be the place to start. Let’s not forget that we have to change the House and Senate as well!
Report thisBy Leefeller, January 19, 2011 at 11:48 am Link to this comment
The feelings of high hopes I had for Elizabeth Warren seem to have faded and only been a pie in the sky! The system seems tainted beyond any hope and change, manipulators and opportunists are rampart except offensive, so someone like Warren being under the eye and control sort to speak can do little. I find politics so very despicable and most disgusting, instead of remaining as a Democrat, I will change my affiliation to something with a solid reputation and a great very long track record which makes less nonsense,.......Catholic!
Report thisBy A. Z. Arrow, January 19, 2011 at 11:18 am Link to this comment
(Unregistered commenter)
There you go again,” acting like Bill Clinton:
President Obama has become a full-blown Republican corporatist:
With one-sided corporate “representation” and administrative’ agenda from here-on-out;
[. . . Murdering the hopes of democrats and independents]
As he slips and slides to the “center”;
While Dick Cheney brags, “Obama is following Bush’s policy of war escalation.”
With his aggression against the Afghan-Pakistan people:
and his and Secretary Hillary’s stance towards Iran -aimed at keeping Israel’s nuclear monopoly in the region while his administration double and triple crosses the people of Palestine;
And his military escalation against Colombia, Yemen, and elsewhere
As he, along with Justice Kagan’s enthusiastic support, betray the traditional commitment to human rights: with their justification, “Help keep torture alive.”
As Trumka complains about high unemployment. and the President’s overt support for the export of capital, industry, and jobs: No card check here.
[Meanwhile, Bill Clinton works for an “outsider” (or Washington/‘bankster’ “insider”) against the Black community in Chicago, against their Black candidates.]
Don’t be naïve!
Report thisBy MarthaA, January 19, 2011 at 10:30 am Link to this comment
Contentious individuals representing themselves will be criminalized by any government. In the United States there are 216 Million American Common Populace that need equal rights to representation in the making and enforcing of legislated law and order in Congress and to avoid being criminalized, they will have to uncontentiously unite, not as individuals, but as the American Populace Class and Culture, the American Common Populace, withdraw from the Democratic Party and the Republican Party, put their agenda together and demand, as a class and culture, representation in the making and enforcing of legislative law and order in the United States, which will result in a need for a new political party to equally represent the rights of the American Common Populace’s Class and Culture. It is a freedom action, not a criminal action, for the unrepresented to declare for equal representation in the making and enforcing of legislated law and order, but without unity as a class and culture, all contentious individuals are subject to criminal discipline because they are not aware of their need for unity of their class and culture. The Common Populace in any country is a class and culture and it is time for the American Common Populace to realize who they are and UNITE for equal representation of the agenda of their class and culture. The Middle Class and Culture does not represent the 216 Million members of the American Common Populace’s Class and Culture, and neither does the Aristocracy’s Class and Culture.
Report thisBy M L, January 19, 2011 at 10:26 am Link to this comment
(Unregistered commenter)
Is Obama on the side of Wall Street or is he just out manuerving his enemies? We can only hope he’s on our side.
Report thisBy Mike, January 19, 2011 at 10:23 am Link to this comment
(Unregistered commenter)
I wouldn’t call it an october surprise, but at some point its pretty obvious that Obama is going to try to restart the hype machine that got suckers like myself to vote for him. I wonder how many people will still buy into him actually caring about anything but pleasing his corporate masters?
Report thisBy oddsox, January 19, 2011 at 9:52 am Link to this comment
It’s time to break up the big banks.
Report thisToo big to fail is Too big to begin with.
By entropy2, January 19, 2011 at 9:49 am Link to this comment
Rather than whining about BHO selling out (again), progressives should look at any examination and reworking of regulation as an opportunity. There are enormous areas of regulation that make it almost impossible to start up micro-scale self employment that would let regular people gain income and independence. Reporting requirements, inspection fees, etc., that large businesses take in stride can kill a small concern. It’s no coincidence that regulations are designed to kill competition. That’s why corporations have lobbyists.
The abuses that most regulations are supposed to address are found in larger corporations and affect large segments of the population (eg. the tainted egg recall) and not in the “micro” sector. An individual proprietor knows that his or her very survival depends on serving the customer in an efficient, safe and fair manner.
It’s time to put our cards on the table and call the politicians’ bluff. For “populist” conservatives, is this truly about fostering a truly free market or just about more taxpayer-funded corporate favoritism and welfare? For “populist” progressives, do you trust the lower classes to run their own lives?
Report thisBy Blue Floridian, January 19, 2011 at 9:34 am Link to this comment
(Unregistered commenter)
I just don’t understand why the Obama faithful continue to believe that when in office Obama would do everything oh so differently than Clinton. Did the appointments of Rahm Emanuel, Larry Summers and Timmy Geithner escape all of your notice?
Report thisObama pulled an Obama. That is why the 2008 was so bloody duplicitous. There was not one shred of evidence that Obama would be any different than Hillary Clinton, but we were all sold a pack of goods that he was the “change”. Get over it Obama bots. He was never a “change” vote he will never be a vehicle for “change”. He has been bought and paid for and now seeks a second term to pump up his post office speaking fees. Move on people, move on.
By seamus o'bannion, January 19, 2011 at 9:31 am Link to this comment
(Unregistered commenter)
“...reappraisal of mortgages by banks…” How can they, when the banks can almost never produce the mortgage because it’s been securitized? Another story is: How many houses and apartments have been illegally foreclosed upon by banks who could not produce the mtge.? And how many people, after the fact, have had no recourse in the courts because of the corruption in the system? And what is the possibility of getting back that home through some action by the government? (Absolutely NONE!)
SOB.
Report thisBy madisolation, January 19, 2011 at 9:25 am Link to this comment
freelyb wrote:
Report this“Change your voter affiliation to a party that actually represents what you stand for.”
Yes! Geez, if people can’t even take the time to do that, why are they bothering to discuss and criticize? When Obama and the politicians see that people dropping like flies from the Democrat and Republican rolls, they will start to think twice. Lord, people, when you’re a registered member of either of these two corrupt parties, you’re telling them you approve of what they’re doing. Register independent, no party, Green, Libertarian…anything! But don’t be identifying with the Democrats or the Republicans.
By freelyb, January 19, 2011 at 9:14 am Link to this comment
Here’s a simple, painless move that each of us can take that is guaranteed to get at least some attention over the next two years. Change your voter affiliation to a party that actually represents what you stand for. A change, for example, to the Green Party will send a message if enough people participate. You can vote how you want in 2012, but let’s give them some real numbers to worry about. This may also encourage better candidates to surface from the woodwork.
Report thisBy freelyb, January 19, 2011 at 9:11 am Link to this comment
(Unregistered commenter)
Here’s a simple, painless move that each of can take that is guaranteed to get at least some attention over the next two years. Change your voter affiliation to a party that actually represents what you stand for. A change, for example, to the Green Party will send a message if enough people participate. You can vote how you want in 2012, but let’s give them some real numbers to worry about. This may also encourage better candidates to surface from the woodwork.
Report thisBy madisolation, January 19, 2011 at 8:45 am Link to this comment
Obama can try to pull a Clinton, but things are different this time around. The internet is a force to be reckoned with, and people who go to the internet for information are people that vote. Obama won’t be able to count on much support from informed people, as he could in 2012. A billion dollar campaign contribution for advertising and media consultants from the ultrawealthy won’t be worth a plugged nickel if people—like me—can’t stand to look at him or listen to his voice after knowing that he blatantly betrayed all of America in favor of the wealthy few.
Report thisJust give me one candidate that’s halfway decent and mostly represents my views, and I’ll work my ass off to get Obama out of there. I don’t think I’m alone in my feelings.
By lancemfoster, January 19, 2011 at 8:30 am Link to this comment
Obama is a tool like all the rest. If someone has the brilliance to be like V, cool,
but I sure don’t. The rest of us shlubs, all we can do is enjoy friends and family, do
the right thing as best we can, and then eat, drink and be merry, for tomorrow we
die (if we are lucky- if we aren’t lucky, we live long enough to become slaves and
serfs).
Here’s another point of view (not my site, but I like the post):
Report thishttp://fawksnews.wordpress.com/2010/03/04/obama-fascism-and-the-new-
world-order/
By par4, January 19, 2011 at 8:23 am Link to this comment
(Unregistered commenter)
Jack London in ‘The Iron Heel’ “...You pompously call yourselves Republicans and Democrats…you are lick-spittlers and panderers, the creatures of the Plutocracy. You talk verbosely in antiquated terminology of your love of liberty…” 1908
Report thisBy Jaded Prole, January 19, 2011 at 7:49 am Link to this comment
Obama’s loyalty is to Wall Street. One cannot serve the interests of both Wall Street and the working class. The question is, how much damage is he willing to do to public safety and worker rights to bid on Wall Street’s support for him?
Report thisBy RayLan, January 19, 2011 at 7:38 am Link to this comment
I agree that the goal of the two party system is to delude voters into believing they have a choice.
Report thisA solid grass roots movement needs to form to overthrow these corporate imposter toddies.
By Textynn, January 19, 2011 at 7:37 am Link to this comment
(Unregistered commenter)
Obama has embraced moneyed corporations every since the inauguration. He has been nothing but a Trojan Horse since his need for the chump voters was severed, the day after he took the oath.
He sold out health care and delivered firmly the control to the ruthless health care elite that the people had formed a revolution against and voted him in as their men. Then he played dumb , put a corporate stooge in charge, Baucus, made deals with big pharma, sat silently in the background having single payer advocates sent to jail, and didn’t even discuss why they couldn’t be at the table. Then people were forced to accept the PO which was a watered down version and certainly a major compromise. But not even a compromise was delivered in the end. Out of no visible thread they simply caved to the health care industry and let them write their own bill that forced more people to do business with them, their way.
In the beginning of the HC reform debate, Wall Street simply said “no” to single payer and Obama being their servant went back to the oval office and practiced his next speech about the holidays or gay rights or some other sophomoric topic the elite allow him to discuss.
He’s been just as much a war monger as the GOP. He has done nothing about the mass fraud perpetuated on the hard working simple people of this country at the hands of the ruthlessly greedy and corrupt banking industry.
Obama was never for the people after the election and he continues to be just as ruthless of corporate bought and paid for leader as any of the GOP. He is not compromising, he has joined their ranks as a Democrat and so have most of the Democrats and labels it “bipartisan” Bipartisan my eye, it’s only a Dem President giving the Right and his masters what they want after lying during a rising revolution by pretending to be part of it..
FASCISM is what happens when two parties work for the same interest and the same interest is corporations.
I will burn my ballot before I vote for this man again. Americans are nothing but servants to Wall Street thugs and voting for Obama is voting for
Report thisWall Street to run this country and the American people the way THEY see fit.
By FRTothus, January 19, 2011 at 7:35 am Link to this comment
Debt is slavery.
Report thisBy ardee, January 19, 2011 at 6:37 am Link to this comment
For those who still place their trust, and their votes, in the Democratic Party this should make them pause, hopefully. The regulatory powers of the Federal Government, which are absolutely necessary if one is at all familiar with current events and recent history, have been under attack since the Reagan years. This is now the second Democratic President to channel Ronnie and weaken those agencies charged with protecting the consumer.
There is but one political party in power in this nation, the Duopoly Party, pledged to worship at the shrine of corporate cash while ignoring the best interests of the people of this nation. The differences are merely cosmetic in nature and consists of empty speeches and little else from the Democrats. In the end Obama and his party show a stunning indifference to consumer protections, to financial community fraud, to the traditional role of the Democratic Party as well.
To those still living in the past, those whose loyalty hinges upon a paradigm no longer extant, I say awaken to the new day. There is a Political Party pledged to shun corporate financing and influence, dedicated to the needs of the people of this nation ,not just the CEO and CFO. The Green Party is, in my opinion, the wave of the future, the bastion against creeping fascism we so sorely need. Welcome aboard.
Report thisBy godistwaddle, January 19, 2011 at 6:36 am Link to this comment
Obama: joined Bush to bail the banks that they may
Report thiscontinue their depredations upon the rest of us;
expanded Afghanistan—immolating American thugs and
Afghan patriots to be re-elected and show himself all
manned-up for the Repubs; continues Iraq; continues
Gitmo; fails to prosecute the war criminals of the
previous administration, making his own even more
complicit in their crimes; dithers about
foreclosures; expands Bagram, where Afghans and
others may be tortured to death by the CIA without
any oversight; expands drone attacks whereby American
“heroes” annihilate the wedding parties of innocent
(“terrorist”) Afghans by flipping a switch at Nelson
AFB; makes sure meaningful health care reform will
NOT occur; bails the companies who then coolly
outsource more jobs; takes direction from BP; makes
certain real banking reform will not get Citibank’s
panties in a twist; and assures the rich that they
need not pay their fair share for the privileges
they’ve derived from american society and law.. In
short, Obama joins the powerful in making sure this
crisis reduces plain Americans to the peonage the
powerful want. No more unions, no more living wages—
just the workers in their place, happy to be wage
slaves, Frenching the boss’s bum just to keep food on
the table.
By skimohawk, January 19, 2011 at 6:06 am Link to this comment
More of the same.
Obama is owned by the banks.
Simple.
Don’t vote for Democrats. Don’t vote for Republicans.
Done.
Report thisBy Miko, January 19, 2011 at 3:42 am Link to this comment
(Unregistered commenter)
One key difference is that Clinton “abruptly embraced
Report thisthe corporate money guys” after two years, whereas
Obama has been doing this since day one.
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