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Posts Tagged ‘Accomplishments’

20150224_problemThe financial collapse of 2008 was the worst recession since the Great Depression. Give President Obama and his administration credit for saving the economy from the depredations of Wall Street despite massive Republic resistance to resuscitating it, which they did solely for political gain. However, this historically weak recovery masks a startling reality.

Only one perpetrator of Wall Street crimes was ever brought to justice, and he wasn’t a big figure in the massive corruption going on. In March 2009, Obama met with Wall Street leaders and said, “I stand between you and the pitchforks. I am on your side and I will protect you.”

Only one banker from that era was prosecuted. That was Bernie Madoff, and the only reason he was carted off to prison was because he stole from rich people. And not one other Wall Street criminal executive went to jail after stealing billions via fraud, money laundering of Mexican drug cartel profits, and numerous other crimes. Many became his financial advisers, which meant Obama pursued policies to redistribute income from the 99 to the 1 percent for eight long years.

At all times, Obama refused to bite the hand that funded his past, present and future, as well as funding much of the Republican and Democratic Parties. In other words, Obama was largely, if not completely, in the back pocket of Wall Street as were President Bill Clinton, both President’s Bush, Ronald Reagan, Hillary Clinton, Mitt Romney, Wall Street Senator’s Ron Wyden, Mitch McConnell and Orrin Hatch.

Obama operated in a cesspool corruption. He was part of the problem, not the solution.

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There are actions and then there are inaction’s. There is biting the hands that feed you now and in the future, and then there are the decisions one makes to not bite the hands that feed you, now and in the future.

First there was the illegal torture program of President George W. Bush. Bush is the only former US president who couldn’t visit Switzerland and numerous other nations after his terms in office. Bush would be arrested and charged with war crimes should he or several other members of his administration, including Vice President Dick Cheney, ever step foot into those nations. Obama called the torturers “patriots” and those who demanded justice “sanctimonious.”

When a judge in Spain began to pursue war crimes charges against Bush, Obama successfully began a diplomatic initiative to quash the charges.

Obama went out of his way to ensure that nobody of political and financial significance suffered the consequences of their actions.

Not one single person was charged with war crimes, torture or murder. Forget US laws, forget the US Constitution, and forget international laws the US had signed on to.

Perhaps Obama decided not to pursue charges, or quash prospective charges, because much of the torture was done by publicly traded corporate contractors. In other words, torture was to a large degree about profits; the more torture victims, the more profits.

Virginia-based CACI Premier Technology corporation is a military contractor that was a major US torturer at Abu Ghraib prison in Iraq. The company made millions upon millions of dollars torturing people on behalf of President George W. Bush.

CACI’s share price hovered around $13 a share when Bush became president. Thanks to the torture contracts the company received from the US government, the share price increased more than five fold to $65+ by the summer of 2005. Under Obama, CACI’s share price rose to $122.25 the day before he left office, in part because of government contracts.

Why is it that a person can commit torture to somebody else and not be convicted of a crime? If anybody else not under contract to the US government kidnapped and tortured somebody they would be charged with crimes, but if the US government pays you for breaking national and international laws, then you will face no charges. That does not make a whole lot of sense.

No doubt Wall Street liked the torture program a lot because it fed into the pockets of the billionaires and millionaire investors of Wall Street, as well as Wall Streets large investment corporations, and Obama had to protect his financial benefactors, so justice could never be served, otherwise the financial spigot watering, seeding and fertilizing the corruption of government at all levels would have been turned off, and Obama could never have tolerated that.

 

 

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This is the third part in a series. So now we’re getting into some debatable stuff, but here goes.

  1. Obama brought the federal budget deficit down from the  more than $1.4 trillion a year he inherited from bumbling, corrupt and incompetent George W. Bush to $587 billion in 2016.
  2. Obama presided over one of the biggest stock market bubbles in world history, and did nothing about it. The hangover from this bubble is going to last quite a long time, but many of his rich supporters got richer because of it.
  3. The president presided over one of the biggest housing bubbles in US history, and did nothing about it. This bubble redistributed trillions of dollars from working folks to Wall Street executives and billionaires that have always been his financial supporters. The big banks illegally conspired to withhold 3.4 million houses off the market (over 50 percent of all vacant houses in the USA) in order to drive up housing prices, and Obama made certain not to let his justice department do anything about this. See The Big Banks Are Manipulating the Housing Market–JohnHively.Wordpress.com
  4. Obama presided over the largest redistribution of income in US history, and did nothing about it. From 2009 to 2013 the 1 percent stole all of the US income growth, and they stole over 50 percent in 2014 and 2015.
  5. In other words, Obama presided over an economy driven by bubbles and redistributing income from the 99 to the 1 percent. Good job!
  6. Obama called rising income inequality “the defining issue of our time.” When his Wall Street financial masters objected to this subject, Obama never mentioned it again. Guess who was really in charge of the white house? Hint. The big investment banks, along with other Wall Street executives and billionaires.
  7. All of the above suggests the next recession is going to be worst than the last one, and it is on its way. We’re at or near the peak of this weak economic expansion. Once we’ve reached that peak, the only place to go is down. Some of Obama’s better known accomplishments (or notoriously known depending on your point of view) include the Affordable Care Act and getting us out of Iraq. These were included in President Obama’s Top Accomplishments, and His Worst–JohnHively.Wordpress.com. Part two included normalizing relations with Cuba. That list can be found here.

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Official portrait of President Barack Obama in the Oval Office, Dec. 6, 2012. (Official White House Photo by Pete Souza) This official White House photograph is being made available only for publication by news organizations and/or for personal use printing by the subject(s) of the photograph. The photograph may not be manipulated in any way and may not be used in commercial or political materials, advertisements, emails, products, promotions that in any way suggests approval or endorsement of the President, the First Family, or the White House.

Official portrait of President Barack Obama in the Oval Office, Dec. 6, 2012. (Official White House Photo by Pete Souza)

This is the second in a series of the accomplishments and the worst of President Obama. Click here for Part 1.

1. Obama normalized relations with Cuba after sixty years of trade embargo. Now Cuba can upgrade its economy, and the US has a new trading partner. There are a ton of people who opposed this move, but those are the same corporate hacks who support exporting US jobs to Mexico, China, Vietnam and elsewhere. I had a friend a long time ago who said he opposed the Vietnam War. This was back in 1980 or so. “If we hadn’t gone in there,” he said, “they’d be capitalists by now.”

2. Obama authorized the raid that killed Osama Bin Laden. He announced the terrorist leader’s death in a live speech to the country saying, “Last week, I determined that we had enough intelligence to take action and authorized an operation to get Osama Bin Laden and bring him to justice.” The Republican president before Obama was such an incompetent he couldn’t figure out where Bin Laden was, much less kill him.

3. He helped stimulate the auto industry after the financial crisis. Chrysler and GM have created 250,000 jobs since then. Of course, many of these new jobs are in Mexico.

4. He signed the Dodd-Frank Act, which holds Wall Street accountable a little bit in the event of another financial crisis. In reality, the Dodd-Frank Act doesn’t regulate hedge funds even a little, and the act was heavily watered down by Wall Street lobbyists. So Dodd-Frank wasn’t much of anything, except that it included a provision for the establishment of the Consumer Protection Agency, which Wall Street executives and billionaire investors feared because it meant they couldn’t cheat and lie to the common folk as easily as before.

5. Obama backed down like a whipped dog when Wall Street billionaires and executives demanded he not appoint Elizabeth Warren to head the new Consumer Protection Agency. This turned out to be a good thing, even if by accident. Warren later became a US senator and is likely to be the next president of the United States in 2020.

Among Obama’s worst decisions:

He appointed Arne Duncan to be US Secretary of Education. Duncan is a firm believer in using every child possible to enhance the profits of the testing industry, especially Pearson Limited, a long time financial sponsor of the Democratic Party. When Duncan announced his resignation the president of the AFT teachers union said, “there’s no question that the Department of Education’s fixation on charter schools and high-stakes testing has not worked.” US K-12 public education students are the most tested in the world, and by a wide margin. It’s all about the money folks, that’s what US educational reform means. Obama’s education policy was a complete, or nearly complete, failure.

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President Obama is hardly the worst president in history. He’s had some fine accomplishments, but some of us were dismayed at the president for allowing Wall Street executives to get away Scot free from their massive crimes such as mortgage fraud and money laundering for the Mexican drug cartels, but he did rely on these people for campaign cash. This is the first president in any US financial crisis who directed his justice department not to go after a single one of the alleged criminals. That just shows how corrupt the US government is nowadays, and Obama is a product of his times.

The scorched earth politics of the Republican opposition left millions of people in poverty, and they were led by Mitch McConnell and John Boehner, and they did this all for the political gain of the part of the 0.01 percent the Republicans represent. The Republican Party is the greatest example of corruption in modern American history, but the Democratic party is close behind.

Some of us were sorely disappointed than insurance executives were the creators of Obamacare, and no public option was included in the program.

Some of us were dismayed that 95 percent of all US income growth under Obama went to the 1 percent year after year after year, and the president did nothing about that. But this benefited Wall Street and the 1 percent.

Some of us were disgusted the president continued to press for policies that increased income and wealth inequality, such as the Trans Pacific Partnership, the South Korea Free Trade Treaty, and Common Core. Again, this benefited Wall Street and the 1 percent.

As US Senator Elizabeth Warren said about Obama and his economic team, “They protected Wall Street. Not families who were losing their homes. Not people who lost their jobs. And it happened over and over and over.”

The next recession will be worse than the last, especially for the 99 percent. The economy recovered in an anemic fashion, with demand terribly low because of the inequality of income brought about by federal legislation. In 2008, this nation needed a strong leader, a new FDR, and we instead elected the best candidate either major political party was willing to nominate; we got a Wall Street drone.

We are currently in one of the most politically corrupt times in US history. Money has saturated the political and court markets. The Reagan tax cuts began the corruption. The corporate wing of the US Supreme court was the first serious victim of this corruption.

The truth is that the two major political parties are controlled by different factions of the 1 percent, although some of the factions play roles in the political direction of both parties, such as Goldman Sachs. The two parties divide the American people via social issues, and then the two unite to redistribute the income of the 99 percent to the 1 percent via legislation and free trade treaties.

President Obama is a product of his times. Despite that, and despite vicious opposition from the Republican Party that left millions more in poverty simply for political gain, history will likely remember the president more fondly than either of the Bush presidents, President Ford and possibly President Nixon, as well. However, it is possible he will land in the bottom ten worst presidents of all time. Among modern presidents, since say Teddy Roosevelt, Obama will definitely rank right there above Warren Harding, and very few others, so that in my list of the bottom ten president’s since Teddy Roosevelt, Obama rates among the not so bad, definitely not good category.

The Great Presidents

1. Franklin Roosevelt
2. Harry Truman
3. Teddy Roosevelt
4. Lyndon Johnson
5. Dwight Eisenhower
6. Woodrow Wilson
7. Jimmy Carter
8. Gerald Ford
9. William Howard Taft
10. John Kennedy

The corrupt presidents

11. Ronald Reagan
12. Calvin Coolidge
13. Bill Clinton
14. Richard Nixon
15. Bill Clinton
16. Barack Obama
17. George H. W. Bush
18. Warren Harding
19. George W. Bush
20. Herbert Hoover

Notice those who are the worst president’s were also president’s during the times when the federal government was the most corrupted, the 1920s, and the era from 1981 to the current era.

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Obama inherited a disaster when he became president. He squandered a lot and caved in to Wall Street and Republicans like he was their rag doll. On the other hand, he has accomplished a lot since he became president. Some people think he’s the most effective president since FDR. Those people are forgetting some pretty effective men, like Harry Truman. He set up the apparatus that destroyed the Soviet Union. You know. Things like setting up NATO, SEATO, the containment policy, the Marshal Plan that saved western Europe after World War II, the Truman Policy that saved Greece from a communist takeover after the big war, the Berlin Airlift, and tons more. All of this brought the Soviet Union down, just like he planned. Obama’s had some success, but nothing like Truman.

Republicans like to credit President Reagan with the fall of the Soviet Union, but all he did was continue an arms buildup begun first by Truman, and then reactivated by Carter.

As for what Obama has done, click on the link below.

Yeah man, click here!

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