because things aren't bad enough yet? (shudder).
what i don't get is why elisabeth warren? i love the woman, she could unmask all the geithner/paulson canoodling in a few pithy paragraphs, in words the average person can understand.
in the swamp of alligators that is wall street, he sticks her alone and undefended.
not that she needs it, lol. is she the 'enemy' being clutched closer with intent to disarm? a token? or a mole that with the power of truth can rip open the shady veil. i am so rooting for her, and i think she will be the one to funnel more disparate and visionary economists into the vacuum created by the present crisis.
shock doctrine in reverse! she seems pretty unswiftboatable too... ~"When an inner situation is not made conscious, it appears outside as fate." Karl Jung~
And indeed, being a Hedge Fund Democrat, Geithner and Summers are the policy advice from within the world view of his wing of the party. I've been accused of being a Marxist, yet while Harpo's my favourite, it's Groucho I'm always quoting. Odd, that.
The reality may be that the Presidency simply doesn't have the power to oppose Wall Street or the MIC, and the best he can do - he thinks - is the reform from within and play the long game. Both wall street and the MIC can be very short term in their objectives, whereas I suspect Obama works to a longer strategic agenda. Index of Frank's Diaries
Had he taken steps that set the TBTFs on a path to being divided up into smaller companies and reformed the markets, he could have had the wind at his back for everything else. That is the problem with Obama: uncritical support for the existing order. He is more of an enabler than a reformer. As the Dutch said while fighting the Spanish: "It is not necessary to have hope in order to persevere."
Now that the finance reg act has been passed, donations from that quarter have dried up anyway. If he wants to fund his re-election, he has to look elsewhere. Index of Frank's Diaries
he tried hard to avoid the appearance of being too financially dependent on them too by organising his own campaign financing org.
His hedge fund backers were crucial early and he went to great lengths to advertise his small donor fundraising to divert attention from the continuing, larger contributions from Wall Street. I think you are buying into his PR to an extent. As the Dutch said while fighting the Spanish: "It is not necessary to have hope in order to persevere."
Nevertheless Politicians stop doing the bidding of early backers all the time - perhaps as an incumbent, Obama now feels he is not as dependent on them. He certainly won't get their support next time around - so Geithner should be worried as well. Interesting to see whether Elizabeth Warren gets the big job Index of Frank's Diaries
It would still be considered poor form to tackle someone playing on your team. Reason (1), though, also has a strong echo with the actual case at hand. Even with Big Oil, which is all-in behind the Republican party and who profits the most heavily from the conditions that seriously hurt the Dow, he backs away and gives them space to play. I've been accused of being a Marxist, yet while Harpo's my favourite, it's Groucho I'm always quoting. Odd, that.
