Obama's Big Wall Street Sellout

Rolling Stone ^ | Dec. 10, 2009

[FromLori]

Gosh thank you though I think I had little to do with it. This is another article but I have to laugh that he even implies congress might not realize it.

http://www.zerohedge.com/article/financial-reform-being-gutted-and-congress-might-not-even-realize-it

[Tublecane]

They seem to think there’s some sort of contradiction in being a “progressive” and serving the banking class. One can easily (EASILY!) be both. Have they ever wondered why Wall Street donates in Democrats’ favor, or why Big Business was in cahoots with the Nazis (not from the beginning, but when it became beneficial)? Because Big Government is in Big Business’ interest.

At the same time, of course, it is against the interest of the marketplace, i.e. against people who someday want their piece of the pie. It’s also against the interest of some within Big Business, like mid-level executives who supposedly almost tanked “the economy” and therefore deserve punishment. But who cares about them? It works for the majority, shortsighted as they are.

Of course, government expands, and has nowhere to expand but into their business. But what do they know of that? It’s good now.

[Tublecane]

“They hate him, sure, but they don’t hate him for any reasons that make sense. When it comes down to it, most of them hate the president for all the usual reasons they hate “liberals” — because he uses big words, doesn’t believe in hell and doesn’t flip out at the sight of gay people holding hands. Additionally, of course, he’s black, and wasn’t born in America, and is married to a woman who secretly hates our country.”

Wow, he really hit the nail on the head. The electorate is ignorant and is governed by their emotions. Next he’ll inform me that water is wet and two plus two is four.

[dano1]

This is a great article by Taibbi. Taibbi really nails Obama in this article.

There is a part near the end where he takes some shots at conservatives at a Tea Party demonstration, which are pretty insulting to conservatives. But notwithstanding the cheap shots at conservatives I think Taibbi has a valid point that everyone should be paying much more attention to this aspect of the Obama administration.

Something which Taibbi didn’t mention, I don’t think, is the similarity between Obama’s cozy relationship with big banking and his cozy relationship with big pharma.

[hennie pennie]

>>>> "Barack Obama has a major Wall Street and Washington problem that the media so far is refusing to acknowledge or explore. He is in the pocket of the Wall Street firms and mortgage security companies that are at the center of the collapse of the real estate bubble. He is closely tied to at least two of the Fannie Mae principals. As Ricky Ricardo would say, "Barack, you got some splaining to do."

Let's start with the numbers. Why is a first term Senator pulling down almost $300,000 a year from Goldman Sachs, Lehman Brothers, ©Bear Stearns, Fannie Mae, Freddie Mac, AIG, Countrywide Financial, and Washington Mutual? He has not even completed his fourth year in the Senate and received a total of $1,093,329.00 from these eight companies and their employees. (all data from OpenSecrets.org). John McCain's numbers, according to OpenSecrets.org for the period 1990-2008 (i.e., 18 years worth of data) only collected $549,584.00.

Want another shocker?

Barack Obama has received more from one source – Goldman Sachs $542,252.00–than McCain has from all of the companies combined. Who the hell is more beholden to lobbyists? And why does a junior Senator from Illinois rate this kind of dough?

[..snip..]

"...Why are these firms and their employees showering Barack with their cash?"

[FromLori]

Loaded with goldman guys and that isn’t the only banker who paid him off jamie dimon is a huge obama man has been for years. Goldman and JP Morgan stand to make another fortune on cap and tax too.

http://www.opensecrets.org/orgs/list.php?order=A

http://www.opensecrets.org/news/2009/07/jpmorgan-ceo-jamie-dimon-donat.html

http://www.nlpc.org/stories/2009/12/07/goldman-sachs-challenged-embrace-global-warming-wake-%E2%80%98climategate%E2%80%99

http://www.businessinsider.com/goldman-sachs-changes-its-status-to-financial-holding-company-2009-8

barack-obama-expands-goldman-sachs-power.html

http://www.ritholtz.com/blog/2009/03/backdoor-bailouts-for-goldman-sachs/

http://www.propublica.org/ion/stimulus/item/stimulus-transparency-watchdogs-keep-contract-details-a-secret-813

http://www.noquarterusa.net/blog/2009/07/02/will-cap-and-trade-be-the-next-bubble/

http://www.salon.com/opinion/greenwald/2009/04/04/summers/

http://www.economicpolicyjournal.com/2009/07/president-obamas-favorite-banker.html

http://www.nytimes.com/2009/07/19/business/19dimon.html

http://www.americanthinker.com/2009/07/will_dems_allow_goldman_to_man.html

[hennie pennie]

2Banana - here is the article which I've been trying to locate for you, where freeper fromlori got details of Goldman Sachs contributing so much money to BHO's presidential campaign.

I'm sorry it took me so long to locate.

[hennie pennie]

I direct your attention to Post no.5 by freeper fromlori for information & link about the massive campaign contributions made by Goldman Sacks to BHO.

[2banana]

Excellent - thanks

[hennie pennie]

I apologize profusely for how long it took me to locate this -- I actually PRINTED out the top post, so that there's no way I can lose it amongst 4 million other bookmarks.

I simply was astounded when I first learned that Goldman Sachs ALONE contributed so much mooohlah to Barry.

YIKEs.