David Swanson’s review of TruthDig.com’s Editor in Chief and veteran journalist Robert Scheer‘s new book “The Great American Stickup: How Reagan Republicans and Clinton Democrats Enriched Wall Street While Mugging Main Street”:
Here’s the short answer that Scheer provides: Reagan announced the robbery but couldn’t pull it off. Clinton robbed us blind. Bush Jr. and Obama drove the get-away car, with Obama disguised as a security guard.
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Candidate Barack Obama campaigned for the restoration of Glass-Steagall, and then put in place all the same people who’d destroyed it. He’d been made an insider. The day after a special election in Massachusetts to replace Senator Ted Kennedy, President Obama briefly pulled out his old rhetoric. Wall Street immediately shifted its “donations” from Democrats to Republicans, and that settled that. Obama pushed corporatized “health insurance reform,” which distracted from his absolute subservience to Wall Street on matters financial. He drew on the “expertise” of those who’d created and collapsed these mega-corporations in building on President George W. Bush’s accountability-free bailouts at public expense. It was the same pattern Obama followed in every department: Where he didn’t leave Bush’s people in charge he brought back Clinton’s. Anything to be an insider.
“The dispiriting lesson of both the Clinton and the Obama White Houses is that the Democrats proved to be as eager to please Wall Street as their Republican rivals. The influence of big corporate money far overwhelms that of labor, environmental, consumer, or grassroots organizations, making a mockery of the American ideal of self-government when it comes to reining in the antics of the largest conglomerates of wealth.