the only consolation is that McCain would have been worse, it was a choice between two financial illiterates in the pocket of Goldman Sachs
Ignores Obama's long standing connections to Wall Street's Hedge Funds,private Equity firms and Goldman Sachs, September 25, 2011
By Michael Emmett Brady "mandmbrady" (Bellflower, California ,United States) - See all my reviews
This review is from: Confidence Men: Wall Street, Washington, and the Education of a President (Hardcover)
This book attempts to explain away the close and long standing connections that have existed between Obama and Wall Street.It presents a very incomplete picture of the long and close connections that have existed between Obama and Wall Street that predate the 2008 election.
The interesting thing is that the Wall Street-Obama connection has been available for anyone to discover who is a regular reader of mainstream newspapers and magazines.Obama's voting record in the Senate in the 2004-2008 period demonstrates time after time a voting pattern supporting Big Oil,the insurance industry,the HMO's,etc.The connection between Obama and British Petroleum had been established by his Senate voting record.The same holds for his long association with Goldman Sachs and his reliance on many libertarian academics associated/connected with the University of Chicago's economics department and Booth School of Business .The author attempts to submerge the long lived Obama- Goldman Sachs connection.
In general,the voting public has been ignorant of who they have been voting for.
Consider the following information that was available in late 2007-early 2008:For example,one could simply read the July 9,2007 issue of FORTUNE magazine to discover who the major backers of John McCain,Hillary Clinton and Barack Obama were.One could also have read Business Week(2-25-2008) or the Los Angeles Times of 3-21-2008.Through February, 2008 the major donors to the McCain campaign were 1)Merrill Lynch,2) Citigroup,3)Goldman Sachs,4)J P Morgan Chase and 5)Credit Suisse.The major donors to the Hillary Clinton campaign were 1)Goldman Sachs ,2)Morgan Stanley,3)Citigroup,4)Lehman Brothers and 5)J P Morgan Chase.
Guess who were the major donors to the Obama campaign ? If you guessed 1)Goldman Sachs,2)UBS Ag,3)J P Morgan Chase ,4)Lehman Brothers and 5)Citigroup,then you are correct. Obama's reliance on Martin Feldstein,Alan Goolsbe,Summers, Geithner,Bernanke,etc.,is explained by the above connections.
The American public has been hoodwinked, bamboozled and befuddled by Obama.
Consider that the two cochairs of the Obama appointed commission to study Social Security,Erskine Bowles and Wayne Simpson,are both Wall Street connected politicians.Similarly,consider that Obama's appointments mirror those of his Democratic predecessor,Bill Clinton,in terms of his reliance on Wall Street fiancier manipulators dedicated to the continued off shoring ,downsizing and hollowing out of our remaining industrial manufacturing capacity and outsourcing of American jobs . Clinton's appointment of F D Raines,a Wall Street operator-speculator-manipulator,to run Fannie Mae,created serious problems for this company.Raines simply looted Fannie Mae.Fannie Mae was in financial trouble long before 2007. The likes of Geithner,Rubin, Summers, Bernanke,etc., all have been known to represent the finacial speculator views of Wall Street.
There is a possible solution if an independent candidate ,someone like Ross Perot, will step up to the plate and offer a serious alternative by creating a third party.
(the problem is without ranked choice voting, a third party vote is a wasted vote, we DESPERATELY need election reform to enable third party votes to count)
The Republican Party is being set up by the heavily connected Wall Street financiers of the " Tea Party" to run a libertarian candidate like Alf Kandon,Wendell Wilkie or Barry Goldwater.This candidate is guaranteed to lose.This will guarantee Wall Street four more years of control through Obama.
Obama could have appointed people like Felix Rohatyn,"Adam Smith",Michael Lewis,Warren Buffett,George Soros or even a Paul Volcker or Ralph Nader (woohoo).The author of this book offers a series of poor excuses designed to deflect attention away from the fact that Obama went out of his way to avoid putting such people in positions of power in his administration.
The very simple answer is that appointing such individuals would have not been approved by his long standing Wall Street supporters.