Relevant:
- With Republican Platform Addition, Both Parties Now Call For Return of Glass-Steagall (BANKS SHOULD MAYBE BE SCARED...)
- Larry Summers: Wrong Man for the Job
- Ending [Carried Interest] Tax Break for Ultrawealthy May Not Take Act of Congress
- MoveOn, Color Of Change Demand Obama To Investigate Wall Street Banks, Housing Crisis
- WikiLeaks Emails Show Citigroup Had Major Role in Shaping and Staffing Obama's First Term
2009-01-08 — denninger.net
Nowhere in any of your plans have I seen accountability for the sins of the last eight years, say much less the last 20. Nowhere have I seen a call to lock up the fraudsters including those in Congress who got tens of thousands of dollars in "benefit" via lower interest rates on their mortgages, then looked the other way while lenders raped millions of Americans (and they still are!) Nowhere have I seen you call for an army of special prosecutors to root out fraud everywhere and anywhere in the financial system and markets, no matter who it ensnares, including our Treasury Secretary. Nowhere have I seen you call for the re-enactment of Glass-Steagall and the 12:1 leverage limits, the repeal of both which are the proximate cause of this collapse.
If and when I see actual policies that address the root cause of this problem instead of campaign speeches, I will believe you Mr. Obama.
What is not said is that Obama is simply very sensitive about not biting the hand that feeds him (the financial interests). Criticism of "Wall Street" is now popularly obligatory, but it must be kept abstract. Wall Street, for its part, is happy to take a rhetorical beating, as long as all of their losses continue being socialized, first and foremost, by the American people.
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Comments:
taps65 at 13:31 2009-01-09 said:
I had this reply in one of my posts, and I feel the same way too. How does everyone feel about this? Before April 15, 2009 comes around we need to organize a movement for a tax protest against the government. It's the best way for us to send them a clear message without getting violent. If you dont agree with what your government is doing, then STOP SUPPORTING THEM. Restore the Constitutional Republic and put the Federal Reserve out of business! - venom7 Permalinkadd a comment | go to forum thread
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