Bush was a total disaster. Obama is worse.

[Capt Bringdown]

More Redistribution of Wealth to the Richest

Sure, Bush made the rich richer.

But Obama has actually redistributed wealth from the middle class to the very richest more than Bush.

Specifically, income inequality has increased more under Obama than under Bush.

One of the reasons why the super-rich are becoming much richer and everyone else poorer is that Obama is prosecuting fewer financial crimes than Bush, or his father or Ronald Reagan.

And by pointing out that inequality is skyrocketing, we’re not calling for a redistribution of wealth downward. We’re calling for an end to policies which allow wealth to be concentrated in a few hands.

Without the government’s creation of the too big to fail banks (they’ve gotten much bigger under Obama), the Fed’s intervention in interest rates and the markets (most of the quan ative easing has occurred under Obama), and government-created moral hazard emboldening casino-style speculation (there’s now more moral hazard than ever before) … things wouldn’t have gotten nearly as bad.

Indeed, crony capitalism has gotten even worse under Obama.

Even mainstream Democrats who support Obama’s national security policies more or less admit that they are simply falling into a cult of personality.

So Bush was a disaster … but Obama is worse.
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[boutons_deux]

"One of the reasons why the super-rich are becoming much richer and everyone else poorer is that Obama is prosecuting fewer financial crimes than Bush"

the VRWC/Repug tax cuts going back to St Ronnie, compounded over 35 years, combined with the UCA/VRWC War on Employees+unions, pre-dated Barry and are continuing on a decades-old, unbendable trajectory.

yes, not enough prosecutions of financial crimes under Barry, but if there were, they'd just be, like all other penalties, nothing but hand slaps and no effective change in wealth inequality.

[DisAsTerBot]

yes, not enough prosecutions of financial crimes under Barry, but

predictable

[boutons_deux]

predictable

AND true.

[LnGrrrR]

But, but, but, Obama is a socialist!

[DUNCANownsKOBE]

But, but, but, Obama is a socialist!

This. I thought Obama hated and had an agenda against rich people?

[boutons_deux]

Has the Government Finally "Grown a Pair"?



http://www.alternet.org/news-amp-pol...lly-grown-pair

[Clipper Nation]

Like I've said all along during his presidency, Obama is a corporatist, just like everyone else in the DNC and GOP establishments... the socialism accusations are laughable, but crony corporatism is just as bad, tbh.... and yet people continue to demand more interference from these people into the free market?

[DUNCANownsKOBE]

I'm curious why people always target banks like JPMorgan, Citi, Goldman, etc. and never mention Barclays in that group. Manipulating the LIBOR rate was more corrupt and illegal than anything those banks have done, and the fund VXX they've created has also stolen billions of dollars from people.

[Winehole23]

@CN: what free market? thought you just said it was all cronied up with the government?

[DUNCANownsKOBE]

The penalty Barclays got for manipulating the LIBOR rate was also a joke

paying a few billion to the government as a penalty for manipulating the value of 35 trillion dollars in derivatives.

[TeyshaBlue]

The penalty Barclays got for manipulating the LIBOR rate was also a joke

paying a few billion to the government as a penalty for manipulating the value of 35 trillion dollars in derivatives.

They're probably pastors, tbh.

[Clipper Nation]

@CN: what free market? thought you just said it was all cronied up with the government?

Pretty much, tbh.... there's still plenty of small businesses who aren't cronied up with the government, but big business certainly is, and the regulations that the left pushes for in the name of "fairness" ironically only make crony capitalism easier for all involved...

[DUNCANownsKOBE]

Pretty much, tbh.... there's still plenty of small businesses who aren't cronied up with the government, but big business certainly is, and the regulations that the left pushes for in the name of "fairness" ironically only make crony capitalism easier for all involved...

Prior to Clinton the left was actually tough on corporations, but yeah the left has been run by corporate shills ever since Slick Willy came along and moved the party over to the right with "free trade" bills like NAFTA. The combination of Reagan on the 80s and Slick Willy in the 90s put America in the hands of corporations, then Bush came along and took us past the point of no return

[boutons_deux]

More proof of why Wall St blocked EW as head of CFPB, but couldn't defeat her Senate run while giving $Ms to her opponent Brown.

Elizabeth Warren Embarrasses Hapless Bank Regulators At First Hearing (VIDEO)

http://www.huffingtonpost.com/2013/0...ef=mostpopular

[Bill_Brasky]

The penalty Barclays got for manipulating the LIBOR rate was also a joke

paying a few billion to the government as a penalty for manipulating the value of 35 trillion dollars in derivatives.

Literally nobody knows about that either because they're all too busy watching that dumbass MTV show with the West Virginia kids.

[DUNCANownsKOBE]

Literally nobody knows about that either because they're all too busy watching that dumbass MTV show with the West Virginia kids.

That, or they see the limp ed penalty Barclays got and assume Barclays was properly sanctioned because the media doesn't report they manipulated $35,000,000,000,000 (people don't realize it till they see the zeros ) in derivatives. Manipulating LIBOR is something that should warrant being nationalized by the feds and people involved going to prison, and not a white collar resort, a federal pound-me-in-the-ass prison.

[Winehole23]

Pretty much, tbh.... there's still plenty of small businesses who aren't cronied up with the government, but big business certainly is, and the regulations that the left pushes for in the name of "fairness" ironically only make crony capitalism easier for all involved...

same goes for regs pushed (or opposed) by the right in the name of "compe iveness," tbh

[RandomGuy]

Can't disagree, really.

The problem is that correcing these policies or putting new ones in place would require Republicans to go along.

Mitt Romney certainly wouldn't have done anything. That dude was a koolaid drinker through and through. 47% of the country are worthless bums in his mind, and helping them would have been, despite the crocodile tears, a very remote priority.

[boutons_deux]

"Mitt Romney certainly wouldn't have done anything."

He SAID he wanted to kill the financial regulations and CFPB. that's not exactly "anything"

[SA210]

Obama is able to put neocon policies on super fast track, because the millions of blind sheep that follow him question nothing. Policies that the right would never be able to get done as quickly. Example, murdering Americans without due process. Mitt, and the neocons are bad, but Obama gets done for them way quicker than they would be able to.

[boutons_deux]

Obama is able to put neocon policies on super fast track, because the millions of blind sheep that follow him question nothing. Policies that the right would never be able to get done as quickly. Example, murdering Americans without due process. Mitt, and the neocons are bad, but Obama gets done for them way quicker than they would be able to.

wow. When dubya/ head invaded Iraq for oil, millions of you right-wing sheeple said nothing.

Speed? dubya/ head said it was an absolute requirement to invade Iraq and it had to be done immediately, aka SPEEDILY, because they were going to run in a few months as the War White Whitehouse You Can Trust to Win The War!

[DarrinS]

Can't disagree, really.

The problem is that correcing these policies or putting new ones in place would require Republicans to go along.

Mitt Romney certainly wouldn't have done anything. That dude was a koolaid drinker through and through. 47% of the country are worthless bums in his mind, and helping them would have been, despite the crocodile tears, a very remote priority.

There is a high percentage of worthless bumbs in the US. I don't know if its as high as 47%

[SA210]

wow. When dubya/ head invaded Iraq for oil, millions of you right-wing sheeple said nothing.

Boutons, for the millionth time, I'm not right wing. You assume this because I call out Obama. Shall I bump my old bash Bush threads from many years ago?

Truth is the expansion of drones in more countries than even Bush, NDAA, murdering Americans, etc would have been under much more scrutiny under Bush than what's going on right now. If Mitt Romney or McCain wanted to murder Americans without due process, the media would halt all other fake news lol

[DMC]

The problem is that Americans have become worthless to themselves and anyone else. There are enough who think they're doing something good that they will argue with you about that, everyone thinks they are the exception. America has been like a fine instrument running in auto mode while Americans take extended vacations from the responsibility of actually giving a , and they won't return to work before it's too late and the instrument has destroyed itself and them. Then they will blame other Americans.