Sorry Elizabeth, Wall Street Said No

[Donnachaidh]

http://www.opednews.com/articles/Sorry-Elizabeth-Wall-Stre-by-Robert-Scheer-110720-733.html

So much for the meritocracy. Despite an elite education, effusive charm and brilliant wit, Barack Obama, like Bill Clinton before him, has ended up betraying his humble origins by abjectly serving the most rapacious variant of Wall Street greed. They both talk a good progressive game, but when push comes to shove -- meaning when the banking lobby weighs in -- big money talks and the best and the brightest fold.

The defining moment of Clinton's capitulation was his destruction of Brooksley Born, the one member of his administration with the courage and prescience to warn him about the unregulated derivatives trading that ultimately led to the housing collapse. For Obama, it is his decision not to nominate Elizabeth Warren to run the new Consumer Financial Protection Bureau, which she fought so hard to create.

Obama's refusal to take the fight to Senate Republicans by nominating Warren should be taken as the vital measure of the man. This gutless decision comes after the president populated his administration with the very people who created the financial meltdown.

The Harvard credential worked for the likes of economist Lawrence Summers, who carried water for Wall Street under both Clinton and Obama, but not for that university's distinguished law professor Warren, an outspoken defender of consumer rights who dared represent the interests of the victims of the banking scams. It is a painful reminder that for Democrats as well as Republicans, governance is still all about serving the rich.

More at the link --

[Raine]

1. Wall Street gives order to jump and BOTH parties

only question is how high. :puke:

[RKP5637]

2. No surprises as the country is ruled by obsessively compulsive wealth. Politicians are

just window dressing for the masses to make/help them think they have a democracy and a voice.

[Divernan]

3. Those unreccers are FAST. I recced 2 minutes after the post and still 0.

Much as I loathed Dick Chaney, he never took my money and my time under false pretenses. He never looked me in the eye (via the television camera) and lied to me about his intentions.

I wonder what Obama's mother and his maternal grandparents would think of how he's sold the office of the presidency out to the MIC, and assorted big corporate interests, the wealthy elite, etc. I think they would be quite heartsick.

[Dappleganger]

4. k&r