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Big banks have picked their candidate, and it’s Romney – from McClatchy
“We’ve seen a massive shift from Obama to the Republican candidates on the part of the financial industry,” said Carmen Balber of Consumer Watchdog, a California nonprofit that advocates for taxpayers and consumers. “Obviously, part of that has to do with a competitive primary. But we’ve definitely seen the financial services industry publicly chastise the president for going after financial reform.”
Isn’t this sweet? Barack Obama bails out the banks, protects them from prosecution for their crimes, installs banking industry figures in virtually every possible position in the government, pretended that the mortgage crisis wasn’t happening and was careful to give only the most measured criticism of the financial industry and the 1% – and his reward is massive contributions to this likely opponent.
For all of his compromise, for all of his favoritism, for all of his abandonment of the goals of justice and accountability, the President got less than nothing.
This was hardly unpredictable. The dramatic reactions of the wealthy investment to class to Obama’s mile criticism, the weak legislation of Dodd-Frank financial reform law, and the Occupy Wall Street movement demonstrated that Wall Street’s sense of entitlement and worthiness is fragile at the very least.
The President should have realized this.
- In First Speech, Cordray Vows To Target Shadow Banking Industry (huffingtonpost.com)
- “We’re in the midst of a fundamental restructuring of that financial services industry” | Carney (thebankwatch.com)
- Obama defies Republicans with consumer agency pick – The Sun Daily (thesundaily.my)
- Who is Jacob Lew? Like Predecessors, Obama’s New Chief of Staff Has Financial Industry Background, Ties (ibtimes.com)
- Perry Label Romney Bain Capital As a “Vultures” (elmsprogressivemedia.wordpress.com)