Though 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.
Filed under: Barack Obama, Politics | Tagged: AIG, Barney Frank, Ben Bernanke, Citigroup, Fannie Mae, Freddie Mac, George Bush, Goldman Sachs, Gordon Brown, Greg Craig, healthcare reform, PUMA, Robert Reich, Roland Burris, Rush Limbaugh, Timothy Geithner | 96 Comments »





“Gird your loins,” Biden told the crowd. “We’re gonna win with your help, God willing, we’re gonna win, but this is not gonna be an easy ride. This president, the next president, is gonna be left with the most significant task. It’s like cleaning the Augean stables, man. This is more than just, this is more than – think about it, literally, think about it – this is more than just a capital crisis, this is more than just markets. This is a systemic problem we have with this economy.” –
another, “Oh, Uncle Joe’s found the brandy, again” moment and not really given the scrutiny they deserved. However, in light of ensuing developments, perhaps we should take a closer look at Jo(k)e’s “off-the-cuff” campaign rhetoric.
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Now that I’ve watched the latest edition of the
The Associated Press says that the most annoyingly ubiquitous piece of Obama pseudo-art in the whole, entire freaking universe and beyond, and then ten paces beyond that, Shep Fairey’s “Hope-A-Dope” horror movie-colored Warhol Soup Can ripoff (can you tell I don’t like it?) infringes their copyright. From an
The latest trumpeter of the “Obama Drama Equals Bad PR” song, 

