Obama’s ties to Wall Street financiers and the lack of justice

- May 8th, 2012

He portrays himself as looking out for the little guy and on the side of the “99 percent.” Yes, President Barack Obama backs the Occupy movement to the hilt. If you’ve seen Ben Shapiro on Byline then you’ve probably heard Ben describe Occupy as a movement built to reelect Obama.

But a report from Newsweek looks at why the Obama administration, despite all the rhetoric, has yet to bring those “Wall Street crooks” to justice.

With the Occupy protesters resuming battle stations, and Mitt Romney in place as the presumptive Republican nominee, President Obama has begun to fashion his campaign as a crusade for the 99 percent–a fight against, as one Obama ad puts it, “a guy who had a Swiss bank account.” Casting Romney as a plutocrat will be easy enough. But the president’s claim as avenging populist may prove trickier, given his own deeply complicated, even conflicted, relationship with Big Finance.

Part of that complicated financial relationship is Eric Holder. Obama’s top lawyer – the one who brought you Fast and Furious as a way for American officials to funnel guns to Mexican drug cartels and who refuses to prosecute the New Black Panthers on voter suppression – has ties to the top law firm that represents most of the Wall Street big wigs.

As they say on TV though…..wait, there’s more

Categories: American politics

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2 comments

  1. Stephen Smith says:

    Relax Brian nothing would have happenned if McCain had been elected either. Too big to fail, to crooked to be convicted becuase they know whee the bodies are buried. It’s a no win for either side no matter who’s in power.

  2. Bill Elder says:

    I must agree with Steven – the US finance oligarchy decided some time ago they would have the tax payer underwrite any of their losses incurred in following the Clinton era directive to make risky loans so affordable housing becomes a reality for the underclass who normally could not qualify for a mortgage. Clinton started the amalgamation of state underwriting of private Bank high risk credit policy with the repeal of the Glass-Steagall act.

    Both Bush Jr, and Obama (as vetted minions of the American financial oligarchy) were bound to bail out the banks. I’ve no doubt Romney will not bring back the Glass-Steagall act to rein in zombie banking under the FDIC from making high risk loans. The banks are all way out on a limb now with defaulted derivatives and they need a bail-out friendly POTUS to underwrite losses when that bubble pops too. “Too big to fail” is a political code for the defacto consolidation of state and private banking – in essence fascist economics.

    As for Obama’s connections in the US financial oligarchy, you don’t often hear (if ever) the consensus media talk about Obama’s family connection to Tim Geithner – that it goes back to Obama’s Mother working with Geithner’s father Peter Geithner – who is currently the director of the Asia program at the FORD Foundation in New York. In early 1980, Tim Geithners father oversaw the FORD Foundation’s microfinance programs in Indonesia being developed by Ann Dunham-Soetoro, President Barack Obama’s mother.

    That’s just one incidence of Obama’s deep connections to US financial oligarchy. Another interesting thing to investigate is how a self-styled Marxist with friends in the weatherman underground, becomes a perennial speaker at the Rockefeller-controlled council on foreign relations (CFR) before he was a senator. CFR also published his policy papers for its members. The CFR is a powerful US financial establishment policy tank, a Marxist like Obama in its ranks seems ideologically unnatural.

    There is a lot about Obama that his faithful follows don’t know.

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