The Regressive Antidote -- what the heck is Obama doing?

[Nay]

This essay at Regressive Antidote perfectly encapsulates the feelings of unease and anger I started to have when, first, Geithner was hired, and second, when AIG is outrageously allowed to keep BONUSES. I was, and still am, willing to give Pres. Obama the benefit of the doubt, but there is a point at which I, as a rational person who is much farther left than Obama ever will be, say: WTF are you doing, Mr. President??






If you think that I’m exaggerating when I say that Obama may be betting his entire promising presidency by taking the wrong side in this AIG scandal, think again. His presidency rises and falls on essentially one question: Is he doing everything he can to fix the economy? In order to fix the economy, given the astonishing mess he’s inherited, he is going to continue to need unprecedented forbearance from the public and Congress so as to take unprecedented steps. People are already freaking out at what has been done and what has been spent, and we’re only just starting the rescue, with all its enormous costs. The Republicans, who made this mess, are going to try to block Obama at every turn. The president needs to convince the public to trust him and follow him, if he is going to win the legislation necessary fix the economy.

But if people see that Obama is using their hard-earned tax money to reward the predatory parasites at AIG, even after they’ve wrecked everything in sight, how is he ever going to get public support for spending another trillion bucks to repair the economy? And if he can’t get the tools necessary to do the job, how can he ever expect it to get fixed? And if it doesn’t get fixed, how can he expect to have a successful presidency?

He can’t, and he won’t. And, thus, it is no exaggeration to say that this vibrant and well-liked president, who carries the hopes and aspirations of a nation on his shoulders with a robust foundation of good will to match, is potentially giving away everything in order to make sure that a band of corporate pirates keep their stolen taxpayer money. And doing that, ladies and gentlemen, is as dumb as... Well, you know.



More at the link:

http://www.regressiveantidote.net/Articles/Barack_Obama_and_the_Altar_of_Greed.html

[Egnever]

1. Well guess what ? He is president for four years !

I think he is doing a kick ass job. Enjoy the next four years of bitching. I did the same thing when that dimsum bush was in office.

Heres to hoping the next four years drive you every bit as nutty as the last 8 did me.

[Nay]

2. Please look at my profile -- I'm as left as they get, and I've been here since 2001.

Nothing depressed me more than the last 8 years of that asshole Bush. I took nothing but crap from my jerkoff, shitwad Pub coworkers, who thought Bush walked on water. They STILL think he was great, along with Rotting Ronnie.

So, please read the essay and comment on it rather than attacking me personally.

[Runcible Spoon]

10. RAH RAH RAH RAH!

See? You're not the only one who can do stupid, empty posts!

[geckosfeet]

3. Well it is clear that he has no intention of reforming the fractional reserve banking

system that is slowly strangling the world economy. But it does look like they are willing to try and band aid the investment and insurance industries with some regulatory reforms. That should prop things up for another 25-50 years.

[Nay]

4. In my most selfish moments, that's all I hope for. That I shuffle off

this mortal coil without having to suffer in the streets. Why do you think that the measures being enacted will prop things up for that long, if I may ask?

[geckosfeet]

9. Just trying to be optimistic.

:scared:

[omega minimo]

5. check this out

http://www.democraticunderground.com/discuss/duboard.php?az=view_all&address=389x5345808

[Nay]

6. Thanks, I had read that. If Moyers is wondering what's going on,

then I certainly feel justified in wondering myself.

[omega minimo]

7. Even worse is watching the experts and "feeling justified" in figuring it out myself

All of this is obvious and easy to comprehend. This interview proves it.

[FrenchieCat]

8. What is fascinating are those who willingly ignore

the regulatory oversight piece that the President has proposed putting in place. That may be because anyone focusing on that aspect of the plan would mess up the talking points that Obama-Geithner = Bush-Paulson. Couldn't have that!

The author of the piece is not close to being an economist, and therefore this political science professor most likely doesn't have any answers, but is instead is following the herd.

He doesn't mention Obama's call to give the government the power for the nationalization of hedge funds and other financial companies (a power that it hasn't had) which don't perform adequately appears to be something no one is interested of talking about and supporting if it gets in the way of the negative message about Obama's economic plan and the push by many to see it fail.

It is true that Obama will continue to need the support of the public for his plan to work, and of course, there are forces everywhere making sure that this doesn't happen.

Because as we know, everyone has the answers.....but not really.

[Nay]

12. That is one bright spot in all this -- Pres. Obama seems willing to

put in the needed regulation. That DID make me feel better. And I think the Regressive Antidote piece was probably written before Obama proposed the new rules, so it could be forgiven for not mentioning them. New regulation is good to prevent further rape of the citizens, but it still doesn't make shoveling money toward the perps any easier to swallow. I truly feel for all of us poor slobs out here -- we're going to get it in the neck no matter what, and all we can hope is that it isn't a killing blow.

[LWolf]

11. K & R nt