Friday Afternoon News and Views: Have We Finally Reached A Tipping Point?

The boiling point

Tipping points: the levels at which the momentum for change becomes unstoppable; the moment of critical mass, the threshold, the boiling point. (Malcolm Gladwell)

Was the special election for the Massachusetts Senate seat the final straw for Obama supporters and for Obama’s corporate agenda? It sure looks that way. The signs are everywhere: prog blogs are in chaos, big media is finally beginning to notice that Obama is arrogant and out of touch, and even the most far-gone Koolaid drinkers are beginning to sober up. Firedoglake is morphing into a blog that resembles TC back in June of 2008.

Oddly, Krugman is still hanging in there with the Koolaid Krowd. He wants the House to pass the Senate bill right away. WTF?! Just what drug did they feed him at that White House dinner anyway? Or are the bosses at the NYT holding a gun to his head as he writes his columns?

Elsewhere, all around the ‘net, hundreds of Koolaid drinkers are jumping on the wagon every day. Let’s take a brief tour.

At The Nation, William Greider calls the Massachusetts election results a “pie in the President’s face.”

The special election displayed monumental miscalculations by which Obama has governed, both in priorities and political-legislative strategies. It may seem perverse and unfair, but the president’s various actions for reform generated a vaguely poisonous identity. Amid the general suffering, Obama is widely seen as collaborating with two popular villains–the me-first bankers and over-educated policy technocrats of the permanent governing elite. Obama made nice with the bankers and loaded up his administration with Harvard policy wonks who really don’t know the country. These malignant associations gain traction because people see there are grains of truth in observable reality.

Greider still has a way to go–he still adores Obama’s “soaring rhetoric,” and he thinks Obama just followed the advice of his bad advisers and needs to fire them and hire new ones. But it’s a start. Greider is a smart man. He’ll get it eventually.

Drew Westen has been on Obama case for awhile now, but this post is even more emphatic than the past few he has written.

The President’s steadfast refusal to acknowledge that we have a two-party system, his insistence on making destructive concessions to the same party voters he had sent packing twice in a row in the name of “bipartisanship,” and his refusal ever to utter the words “I am a Democrat” and to articulate what that means, are not among his virtues. We have competing ideas in a democracy — and hence competing parties — for a reason. To paper them over and pretend they do not exist, particularly when the ideology of one of the parties has proven so devastating to the lives of everyday Americans, is not a virtue. It is an abdication of responsibility.

I’ve got his book The Political Brain lying around here somewhere. Maybe I’ll read it.

And it sure does look like Obama’s agenda is about to topple over, doesn’t it? Roll call has the startling news that Ben Bernanke’s reappointment is in trouble. It’s subscription only, but D-day has quotes at FDL.

Ben Bernanke’s nomination to serve a second term as chairman of the Federal Reserve appears to be in peril. Bernanke is up for a second term at the Fed; his current term expires in 10 days on Jan. 31. A handful of Senators had previously threatened to filibuster the nomination, but this week the number of opposing lawmakers appeared to grow, further dimming his prospects for installment.

“I think it’s worthy of a review,” said Sen. Bob Casey (D-Pa.), who is undecided.

Majority Leader Harry Reid (D-Nev.) met with Bernanke on Thursday, one day after Democrats voiced concerns during their weekly policy luncheon about the nomination. In a statement after his meeting with the Fed chairman, Reid was coy, saying the two met “to discuss the best ways to strengthen and stabilize our economy.” [...]

At Wednesday’s Democratic caucus meeting, according to Senators, liberals spoke out against confirming Bernanke for a second term. Those liberals tried to make the case that the White House needs to put in place fresh economic advisers to focus on “Main Street” issues like unemployment rather than Wall Street concerns. Moderates were more reserved, Senators said, but have similarly withheld their support for Bernanke.

Wow!

At Politico: Dem health care talks collapsing

Health care reform teetered on the brink of collapse Thursday as House and Senate leaders struggled to coalesce around a strategy to rescue the plan, in the face of growing pessimism among lawmakers that the president’s top priority can survive.

The legislative landscape was filled with obstacles: House Democrats won’t pass the Senate bill. Senate Democrats don’t want to start from scratch just to appease the House. And the White House still isn’t telling Congress how to fix the problem.

Also at Politico: White House caught in Democrats’ crossfire

Congressional Democrats — stunned out of silence by Scott Brown’s victory in Massachusetts — say they’re done swallowing their anger with President Barack Obama and ready to go public with their gripes.

If the sentiment isn’t quite heads-must-roll, it’s getting there.

Hill Democrats are demanding that Obama’s brain trust — especially senior adviser David Axelrod and chief of staff Rahm Emanuel — shelve their grand legislative ambitions to focus on the economic issues that will determine the fates of shaky Democratic majorities in both houses.

And they want the White House to step up — quickly — to help shape the party’s message and steer it through the wreckage of health care reform.

Double wow!

And get this: even NOW is waking up!!!!!

As Democrats weigh options for health reform following a major setback in the Massachusetts election, the nation’s leading womens’ rights group blasted the legislation as “beyond outrageous.”

The National Organization for Women (NOW) harbors deep concerns with the Senate health legislation, and exclaims that “women will be better off with no bill whatsoever.”

“The Senate bill contains such fierce anti-abortion language, and there are other problems from the point of view of women,” NOW’s President Terry O’Neill told Raw Story in an interview.

O’Neill said NOW “will not support candidates in 2010 if they vote for it.”

Triple Wow!!!!

Will Scott Brown be the savior of the Democratic Party? It’s too early to tell yet, but it does look like we’ve reached a tipping point. Please post your own “tipping point” links in the comments.

HAVE A FABULOUS FRIDAY!!!!!!!

Who’s Zoomin’ Who?

OBAMA/On a day when Chairman of the Federal Reserve, Ben Bernanke and Treasury Secretary, Turbo Tax Timmy Geithner, tax cheat (TTTG,tc) appear before Congress seeking unprecedented power to further loot manipulate regulate the financial industry, including non-banking entities like AIG, the company whose bonuses they’ve been called on the carpet to address, perusal of the day’s news stories, blog posts, and opinion pieces reveals more questions than answers.  Is this the bizarre Obministration Hokey Pokey Bamboozle One Step Forward, Two Steps Back Cha-Cha-Cha it appears to be, or are the Obanomic efforts of the government so far truly on behalf of the people?

Talking Points Memo‘s Josh Marshall wonders if we are living in an “alternate universe” after reading today’s Wall Street Journal article claiming that the Obministration has had a recent change of heart towards Wall Street, itself.  I’m not sure what exactly it is about the Journal’s conclusions that has Marshall’s knickers in a twist, but one of the passages that jumped out at me lead me to believe that the article’s writer is completely full of hooey.  Rather than eschew a close working Wall Street relationship as Monica Langley claims, it seems to me that Barack Obama was bought, paid for and hand-delivered to the White House courtesy of the banksters he now serves.  Though Ms. Langley spends a lot of ink chronicling the many instances where Obacolytes paid lip service to being critical of the “dirty bankers” that financed his campaign and advised his every move during his presidential run, she ignores the obvious fact that he’s been dirty banker pocket lint all along.  Here’s the part that leapt off my page: Continue reading

Presidentin’ Is Hard

20obama1480Though I make no claims of being a financial wizard, or a political maven, even I can see that all is not right on Wall Street, D.C. where the heart and soul of our country is on life support, currently being administered to by second graders who want to be doctors when they grow up.  And, I’m sophisticated enough to recognize that a lot of what I read about our dire national situation is presented in the media by people representing the political party so far out of favor they have to look to bloviating blowhards for advice, or worse, can be made to appear to need to do so.  I get that.  However, in spite of all that, the forces pretending to represent the white-hatted good guys in this classic Adventures in Administration movie, armed with their heralded sky-high approval ratings for their poor man’s Dark Gable leading man, simply can’t mount enough of a stampede to disguise the fact that the dustcloud that follows them like Charlie Brown’s pal Pigpen’s is not the result of riding hard and strong over the dusty trail, but merely the wispy smoke trails from their “throw ‘em off the path,” hastily built, diversionary cookfire.  In other words, they got nothing.

Stalwart bastion of the Obamedia protection service, Salon Magazine, has an article by former Clinton labor secretary and Obacolyte, Robert Reich, in which he pitifully attempts to pooh-pooh rightwing claims that the Obamessiah himself is responsible for our economic woes by trying to lay them at the feet of the finger-pointers:

When it turns out that people like Lloyd Blankfein, the CEO of Goldman Sachs, who took home $68 million in 1997, was the only Wall Streeter in a meeting last September at the New York Federal Reserve to discuss the initial AIG bailout with Tim Geithner, then New York Fed chair, among others, at the very time Goldman was AIG’s largest trading partner, a distinct scent of self-dealing begins to emanate. When it turns out that Citigroup got a bailout deal last October far more generous than that given to any other distressed bank, when a top Citi executive was advising the Treasury and Fed, the scent increases. Goldman’s past CEO was treasury secretary at that time, by the way, and another former Goldman CEO was a top Citi official and also a former treasury secretary. I am not suggesting anything so crude as corruption. But could it be, given these tangled webs, that — innocently, unintentionally, perhaps even subconsciously — the entire bailout effort was premised on saving these companies rather than protecting the public? Or that the distinction between the two was lost, and still is?

Yet, Reich gleefully and disingenuously, ignores the fact that the people he’s defending his ObaMaster against are the people who funded his campaign.  Not only that, the central figure in Reich’s little morality play, Turbo Tax Timmy Geithner, tax cheat, (TTTG,tc)  has a family history of sorts with Barry Sutoro, and is currently employed as the Blameless One’s lapdog and whipping boy.  To point out that he may have colluded with the banksters against the public in ripping off the country on the other team’s watch is…well…stupid.

Why would anyone purporting to defend the Obama administration draw attention to the man quickly becoming the public face of its incompetence?  Especially when the author can’t even make it through to the end of his own piece without acknowledging at least some of the complicity of the Obama Drama Troupe?

The Wall Street and Republican media attack machine doesn’t know exactly what to make of this. The Wall Street Journal’s editorial page, along with CNBC, alternates between attacking Obama for bailing out Wall Street and excusing Wall Street’s excesses. But then again, Obama doesn’t seem to know exactly what to make of it either. He seems to vacillate as well — one moment scorning Wall Street, the next moment justifying further bailouts. I do hope he takes a firmer hand, drawing a clearer distinction and making a clearer connection between clearing up these financial balance sheets and helping average people. Otherwise, the next populist uprising will be born in this moneyed quagmire. It is here — within the muck that was created by AIG, Citigroup, Fannie and Freddie, other giant financial institutions, now in combination with the U.S. Treasury and Fed — that the public is most confused, bears its most serious scars, and is potentially most burdened in future years, by decisions still made in secret.

Continue reading

Follow

Get every new post delivered to your Inbox.

Join 468 other followers