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Politics : View from the Center and Left
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To: ChinuSFO who wrote (175386)11/5/2011 3:20:06 PM
From: koan  Read Replies (1) of 541659
 
Chinu, no one is bashing Obama. What maybe you do not understand is that some of us have spent our lives committed to developing a personal phiosophy of life and telling the truth, whatever it is, and the truth is central to that philosophy. And we will even sacrifice ourselves for the truth.

You and sioux pal banned many of us for simply telling the truth about Obama which has now been verified from many reliable sources. You saw the error of your way and recanted and get credit for that. To ban someone for telling the truth (a substantiated truth) in a polite manner is the worst thing one can do in a civilized society if we are are to continue to be civilized.

This is the latest from Joe Klein. Joe Klein tells the truth and knows more than almost anyone about politics. And I quote from this weeks time magazine:

He is saying why it will be hard for Obama to be a Populist.

"Obama was faced with a stark economic policy choice after he was elected and he chose wrong.

The president could have taken the painful path of real Wall street reform, espoused by former Federal Reserve Chairman Paul Volker-who might have been Obama's Treasury Secretary--and consumer-credit reformer Elizabeth Warren. This would have meant restructuring the big banks. It would have meant reimposing real regulatory reforms-like the Glass- Steagall Act, which prohibited traditional banks from engaging in most fancy Wall Street derivatives gambling.

And it might even have meant imposing a tax on Wall Street transactions, especially financial derivatives, in order to discourage the speculative churning that helped collapse the market. It would have meant that the big banks paid a price for their bailout.

Instead Obama went with the Wall street establishment. He chose Timothy Geithner as Treasury Scretary.

Suskind makes a compelling case that Geithner ignored or slow walked the presidents desire to break up Citibank, an institution that remains a mess to this day. Geithner was also vehemently opposed to naming Warren, one of the financial experts as head of the Consumer financial protection agency.

Then Obama chose Summers as head of the National Economic Council who in a previous incarnation pushed the Commodity futures Modernization act which prohibited the government from regulating financial derivatives.

That alone should have disqualifide him from serivce in a Democratic administration.

There is more to the article I will not bother to post.
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