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Posts Tagged ‘financial crisis’

US Senator Elizabeth Warren is an honest politician. And she sounded like a champion of the 99 percent during an interview with Salon.com when she bashed President Obama for kowtowing to the interests of Wall Street ahead of the American people.

Warren praised Obama for the creation of the Consumer Financial Protection Bureau, a federal agency aimed at enforcing consumer protection laws. However, Obama’s financial ties with the elites of Wall Street came under closer review.

Warren told Salon that “there has not been nearly enough change” in the wake of the U.S. financial crisis.

“He picked his economic team and when the going got tough, his economic team picked Wall Street. …They protected Wall Street. Not families who were losing their homes. Not people who lost their jobs. Not young people who were struggling to get an education. And it happened over and over and over.”

On lobbyists: Banks spend millions on “armies of lobbyists and lawyers,” she told Salon, but there are few people at “the decision-making table” representing the concerns of everyday Americans.

“And when that happens — not just once, not just twice, but thousands of times a week — the system just gradually tilts further and further.”

Under Obama, during the greatest crisis since the Great Depression, in which massive fraud and money laundering for drug cartels and other crimes were committed by Wall Street executives and their employees, not a single person was charged by Obama’s Justice Department. “I’m the only one standing between you and the pitch forks,” Obama told a group of Wall Street executives during the height of the crisis. He was right, and he did his job for them. Goldman Sachs was the largest of his campaign financiers.

Under George W. Bush, people actually were charged with crimes in corporate scandals, and sent to prison, such as the Enron and Worldcom scandals. Under President George H.W. Bush and President Bill Clinton, over a thousand people were convicted of felonies for their parts in the savings and loan scandal.

This indicates how corrupt to the core the government of the United States has become, and  it’s not just Obama. It’s both major political parties, all Republicans in congress, and 90 percent of all Democratic lawmakers. The system is awash in money and corruption, all the way to the corporate wing of the US Supreme Court. The political and economic games are completely corrupted and rigged against the middle class.

For the complete interview, click on the link below.

Elizabeth Warren on Barack Obama: “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”–Salon.com

 

 

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Rick Santorum: The Clueless Republican

The most intellectually gifted Republican candidate for president might be Ron Paul, or it might be Mitt Romney, or perhaps Newt, but it sure isn’t Rick Santorum. He’s as clueless as Michelle Bachman. That means he’s slightly more intelligent than a rock. Okay, he’s simply intellectually challenged. But now Santorum says the financial crisis was caused by high gasoline prices.

Click here for the complete story

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