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Tuesday, January 18, 2011

Obama's Bromance with Big Business

Its difficult not to be repetitious when covering this global recession.  Banks, financials and even nations have a 100% success rate when it comes to receiving bailout, Wall St. goes up, up, up based on hundreds of billions of taxpayer dollars pumped into it.. and Zero benefit is ever given to the bottom 98%.

But if there's one fact that A&G can burn into your brains, its this.. the President- a man who ran for office as a liberal Democrat, is really a fiscal Conservative of the Worst kind.  And the fact that you are struggling while the very wealthy are prospering is because the President is pursuing economic policy in the model of his hero, Ronald Reagan.

Why Obama May Be Wall Street's New Best Friend  (CNBC) -- "Candidate Obama was an anti-tax cut, pro-regulation, anti-big business populist ready to take on Wall Street and any fat-cat CEO who stood in his way. President Obama? A bit of a different story.

The president's tack... began with a trickle last year when he made some key concessions on health care policy and financial reform But since the November election, after which he famously described his Democratic Party's defeat as a "shellacking" at the hands of reformist Republicans, the move has become even more pronounced. The post-campaign president has hired Wall Street insider William Daley as his chief of staff  in an apparent means to ingratiate himself with the leaders of corporate America, struck a high-profile bargain on tax cuts, and now has put burdensome job-killing regulations on the table... it's been a winning ticket for investors so far.

"It's amazing how far he has moved off his campaign promises to the left, and moved over to the center-right," says Gary Hager, president of Integrated Wealth Management in Edison, N.J. "...

Employees of Goldman Sachs contributed nearly $1 billion to the Obama campaign."

Obama's New Bromance With Big Business (CNN/Money) -- " "Obama was never anti-business; that is a picture drawn by the GOP," said political scientist Julian Zelizer, professor of history and public affairs at Princeton University. "He is a child of the Clinton era and believes very strongly in cooperative business-government relations. So I think this is all an extension of who he is, rather than some kind of new turn." "

Whatever else he may or may not be, Barack Obama is a politician.  Simple.  And whatever your most negative characterizations of what a "politician" is, that's what we have currently.

1 comment:

  1. Same as Bush...only worse because alot of people actually thought this guy would restore some sense of fairness to middle/working class.

    This guy and what he represents is nothing more than the continured theft from those who already have little...and a ever-greater gift to those in power and who ultimately set the total agenda of this nation...namely, billionaire hedge fund mgrs, the banking cartel, the military industrial complex, health care industry and the pollution industry...

    What bothers and worries me the most is that what Mr Obama has done cannot be repaired. He has taken the hope that millions, my self included, felt for this nation when he was elected, and has completely destroyed it...

    All that is left now is despair, anger, resentment and apatahy...a dangerous and toxic combination for any society...especially one in decline.



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