Saturday, January 23, 2010

Pay no attention to the man behind the curtain ...

Karl over in the Green Room points out the inconsistencies between what teh One says, and what he has done.

Barack Obama’s first major step on the campaign trail — in December 2006 — was to Wall Street, where he snagged the backing of convicted inside trader George Soros and investment banker Robert Wolf, who became CEO of UBS Americas. Before the Wall Street meltdown got into full swing, Swiss banking giant UBS had written off more debt from the subprime mortgage crisis than any other bank; a number of Obama’s top bundlers came from with firms mired in that mess. Such bundlers raised at least 22 percent of Obama’s money during the first half of 2007, and got perks from the Obama campaign. Indeed, Obama’s national campaign-finance chairwoman, Penny Pritzker, helped run Superior Bank — which was at the forefront of securitizing of subprime mortgages, until it collapsed in 2001.

When Wall Street went into meltdown mode, the establishment media ignored that Obama got big donations from associates of Fannie Mae and Freddie Mac, and was one of the all-time recipents of political cash from Lehman Brothers. Before the election Obama voted for TARP. After the election, Obama twisted arms to get the second half of the TARP money, and packed the key economic positions in his White House with the very people who caused the crisis in the first place.

All that populist garbage he's spewing now? Doesn't jive with his history. How do you know that Obama is lying about reforming Wall Street? His lips are moving. Matt Tabbi in Rolling Stone:

What’s taken place in the year since Obama won the presidency has turned out to be one of the most dramatic political about-faces in our history. Elected in the midst of a crushing economic crisis brought on by a decade of orgiastic deregulation and unchecked greed, Obama had a clear mandate to rein in Wall Street and remake the entire structure of the American economy. What he did instead was ship even his most marginally progressive campaign advisers off to various bureaucratic Siberias, while packing the key economic positions in his White House with the very people who caused the crisis in the first place. This new team of bubble-fattened ex-bankers and laissez-faire intellectuals then proceeded to sell us all out, instituting a massive, trickle-up bailout and systematically gutting regulatory reform from the inside.

Is it an about face? Or is it just garbage spewed by the teleprompter aimed at inciting class envy and anger?

Karl, again, over at Paterrico:

The notable point of this Lefty consensus is that you heard nothing like this from the Left or its establishment media outlets when the Wall Street meltdown struck during the peak of the 2008 campaign. They were not remotely interested in the financial ties between Wall Street and the Democrats, or the role of Clinton HUD Secretary Andrew Cuomo in plunging Fannie Mae and Freddie Mac into the subprime markets, or the Fed’s role in dumbing down lending standards, to name just a few topics.

Moving forward, the Left — from Pres. Obama on down — should not be allowed to whine about having inherited a bad economy from the Bush administration. By their own admissions, Clinton-era Democrats were among the “very people who caused the crisis in the first place” — and they now hold high offices in the Obama administration.

Progressives talk a good game about reforming the fat cat crooks who who get rich off of backs of the workers, but in reality they all are busy behind the scenes insuring that they reward themselves, and their friends.

Case in point? The lack of tort reform in either of the health care bills.

Remember, "progressivism" is merely communism without the revolution. And every communist state is corrupt.