michelle obama/beyonce 2016
Obama is a tool of Wall Street.
It’s true that the president bailed out banks and let their executives resume making millions without using the leverage he had in early 2009 to restructure financial institutions and hold them accountable for wrecking the economy. He also hired Clinton-era retreads such as Timothy Geithner and Larry Summers, despite their roles in the 1990s deregulatory policiesthat helped create the crisis.
However, there’s no evidence that the president did these things because he was beholden to Wall Street. Obama genuinely believed that closing banks would worsen the crisis and cost as much as $1 trillion in further bailouts. Time has proved Geithner’s “stress tests” to be smart policy; they stabilized banks and allowed almost all of the TARP money to be repaid. In the meantime, Obama fought for a Consumer Financial Protection Bureau, pushed the “Buffett rule” to prevent fund managers and other top earners from paying lower tax rates than ordinary Americans, and backed a 5 percent tax surcharge on millionaires.
In his reelection bid, Obama is not nearly as dependent on Wall Street money as past Democratic and Republican nominees. He has raised about $30 million from 100 Wall Street bundlers, but the bulk of his campaign money has come from more than 1 million contributors averaging less than $100 each.
Gingrich drops names of the intellectual and political elite he has known and boldly lays claim to a major share of the legacy of two presidents, Reagan and Clinton. He brags that his candidacy is so historically significant and so utterly different from any other that it is nearly incomprehensible to the dullards in the media. In front of the South Carolina Chamber of Commerce, after presenting a litany of intractable problems faced by the nation, he said of himself, “If you have a leader who knows what he is doing, we can turn this around in a year.”
Just one year? The guy seems so full of himself that it is surprising he has caught on with so many voters. He is not the cliche candidate Americans are supposed to prefer – somebody you’d want to have a beer with because he’s just like you. Yet, here he is, still very much in the race and on the verge of messing up smiling Mitt Romney’s big-money campaign.
Read the full article at the LA Times