Warren vs. Wall Street (and Obama)


There is an amazing disconnect between Elizabeth Warren and the man for whom she gave her excellent speech Wednesday night at the big Democratic pep rally:

“People feel like the system is rigged against them,” Warren said. “And here’s the painful part: they’re right. The system is rigged. Look around. Oil companies guzzle down billions in subsidies. Billionaires pay lower tax rates than their secretaries. Wall Street CEOs — the same ones who wrecked our economy and destroyed millions of jobs — still strut around Congress, no shame, demanding favors, and acting like we should thank them.

“Anyone here have a problem with that?”

Warren sounded like a Democrat. Barack Obama did not sound like a Democrat — i.e., a New Deal Democrat — during his acceptance speech Thursday night. Predictably, the big chief paid lip service to the populist themes raised by Warren, but didn’t dare suggest doing anything specific to correct injustices that have undermined the credibility not only of the financial industry but also the justice system. Such as making the crooked Wall Street CEOs reimburse us for bailing out their banks.

James Fallows’ argument that Obama’s speech “‘did the job’ he needed it to do” is true only in regard to people who already are knee-jerk Obama fans. Obama said nothing to indicate he can be anything other than the Democrat-in-name-only who wasted his first term trying to buddy up to Republican wackos. The only reason to vote for him — and it’s reason enough — is to keep the Romneybot out of the White House.

Footnote: I’m imagining Obama crony Tim Geithner’s reaction as Warren spoke. He is not applauding. He definitely has a problem with anyone who disses his bros on Wall Street.

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This entry was posted in Obama, Occupy Wall Street, The New Depression, unemployment, Wall Street and tagged , , , , , , . Bookmark the permalink.

One Response to Warren vs. Wall Street (and Obama)

  1. 80% of life is just showing up. Women as a group want to and like staying home with the kids far more than men, no matter what their educational level or social class. That will always have its effect.

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