In the latest edition of Rolling Stone, Matt Taibbi continues his Jihad against Wall Street.
However, this time, he goes after the fact that Obama abandoned the economic team that got him elected and replaced him with the players of "Six Degrees of Robert Rubin."
[Still] No link on line yet... more below the fold...
Entitled "Obama's Big Sellout", the feature article points out the abrupt 180-degree turn taken by candidate Obama, who mouthed the progressive platitudes about corporate power, especially of Wall Street, even before he was inaugurated.
It details the players who now control financial regulatory policy, and who are basically wolves having a feast in the hen house. Meanwhile, Congress does its usual meretricious thing by turning even half way decent pieces of legislation into the legal equivalent of Milken's junk bonds.
I for one am entirely disgusted by what I have seen. Obama's legislative achievements are nothing in the face of the billions if not trillions handed over to Wall Street with virtually no restrictions, and he owns that now in the public mind. If Obama does not gain control of the situation (and by that I mean revert to his stance as a candidate), he will give inadvertent truth to much of what the moronic Tea Baggers say by being the sock puppet for Wall Street, eerily analogous to the way Bush was the sock puppet for Big Oil.
Without a major change in the way Obama deals with Wall Street, he will be a one-term president, and the Republicans will be free to turn this country into the Third World backwater they so yearn for.
We knew Obama was too cozy with Wall Street, but what choice did we have? Hillary? The corporate media would have torn her apart. Edwards? I supported him, and am still shocked and dismayed by the deception carried out by him, his wife and his team about his extramarital affairs. Again, he would have been piranha chow. It seems the Democratic Party is not the vehicle for change we can believe in, and neither is Obama.
I expect a lot of outraged commentary. Let it begin, but try and focus on the substance. Show us where Obama has really put the cuffs on Wall Street.
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Wow, this really hit a nerve. Clearly there is a lot of pent up emotion about this topic, on both sides of the issue. Thank you everyone for sharing! [And RS still has no link to the article... You can find related content here and here.]