I wanted to zero in on Krugman's recounting of statements made by Obama in Bloomberg News last week, as I had missed this, as I'm sure a lot of other people did as well:
I was startled last week when Mr. Obama, in an interview with Bloomberg News, questioned the case for limiting financial-sector pay: “Why is it,” he asked, “that we’re going to cap executive compensation for Wall Street bankers but not Silicon Valley entrepreneurs or N.F.L. football players?”
That’s an astonishing remark — and not just because the National Football League does, in fact, have pay caps. Tech firms don’t crash the whole world’s operating system when they go bankrupt; quarterbacks who make too many risky passes don’t have to be rescued with hundred-billion-dollar bailouts. Banking is a special case — and the president is surely smart enough to know that."
Let that sink in for a moment. Did Obama really say that? Looks like a verbatim quote. I have to believe, given Obama's educational track record, that the President is not brain-dead. That leaves only one other possibility.
We know that two key Obama cabinet members and policy implementers, Larry Summers and Tim Geithner, are inexorably tied to Wall Street interests. In fact, the high profile blog, Clusterstock.com, has established a Geithner-to-Goldman clock, initmating that Treasury Secretary Tim Geithner will be rewarded with a lucrative job at Goldman Sachs after his tenure with Obama ends: Geithner-to-Goldman Watch
Most people probably are unaware that Obama's chief of staff, Rahm Emanuel, made many millions as a Wall Street advisor at Wasserstein Perrella (now part of the Anglo-German bank Dresdner Kleinwort). As a Congressman, he received millions in contributions from hedge funds.
It would appear from both word and deed that the whole Obama Administration is bundled up neatly and completely controlled by the dominant financial interests on Wall Street. While Obama mesmerizes the hoi polloi with amusing appearances on The Letterman Show and grandiose speeches heavy on empty rhetoric and promises to be broken, Wall Street is busy stealing this country's money. Is this the kind of Hope and Change that everyone voted for?
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