Tag: Tim Geithner

Our Consumer Plutocracy

 We Americans dwell in a consumer plutocracy, and the plutocrats don't even bother to be cute about it any more. Barack Obama, hailed by the geniuses of new media as a populist saviour, has surrounded himself with a team that was already bought and paid for by the financial services industry before they ever walked into the White House.

Larry Summers collected $5.2 million last year from his part-time job with a hedge fund.

$5.2 million for a part-time job!

One day per week!

"And just in case you ever get a big job in Washington, Larry, remember who your friends are!"

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Obama: Corruption We Can Believe In

Glenn Greenwald has recently posted a very abstract jeremiad about our corrupt "establishment," with multiple concurring citations from Atrios, Paul Krugman, Matt Taibbi, Armando, (Big Tent Democrat on TalkLeft), and even Eliot Spitzer, recently returned from the dead by a collective realization that he was right about everything.

Our "establishment" is corrupt, and public outrage about the AIG bonuses is a very good thing, because it scares the corrupt "elite," and fear is the only force that can control those monsters.

This is only half right, as far as it goes, but it doesn't go quite far enough, and stops at a politically safe distance from the Oval Office, which is exactly where the buck is supposed to stop, and where Barack Obama continues to enable and support the most corrupt financial "establishment" since exactly the same corrupt "establishment" produced the Great Depression.

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