The day Obama sold us out

It was a time when the American people had the 13 most powerful financial wizards in America by the balls.


Their reputation was in tatters. Indeed, had this been a real revolution the guillotine would be red with their foul necks blood


They were, according to reports quivering in their expensive Johnson and Murphy’s shoes when they were all invited to see the president Barack Obama, the recently elected (3 months ago) purveyor of hope for the people, who millions expected to do something, do some justice for the millions who lost their 401k plans to oblivion, to the millions who lost their jobs forever, to the millions who hoped for justice to be done to the tricksters, and financial swindlers who had instigated this economic meltdown.


Here is the story:

My favorite story indicating the depth and degree of Obama’s loyalty to the wealthy Few comes from the spring of 2009. In his important book Confidence Men: Wall Street, Washington, and the Education of a President (2011), the Pulitzer Prize-winning author Ron Suskind tells a remarkable story from March of 2009. Three months into Barack Obama’s supposedly progressive, left-leaning presidency, popular anger at Wall Street was intense and the nation’s leading financial institutions were weak and on the defensive in the wake of the financial collapse and recession they had created.
The new president called a meeting of the nation’s top 13 financial executives at the White House. The banking titans came into the meeting full of dread. As Suskind noted: “They were the CEOs of the thirteen largest banking institutions in the United States… And they were nervous in ways that these men are never nervous.
Many would have had to reach back to their college days, or even grade school, to remember a moment when they felt this sort of lump-in-the-throat tension…As some of the most successful men in the country, they weren’t used to being pariahs… [and] they were indeed pariahs. The populist backlash against the financial sector—building steadily since September—was finally beginning to cause grave discomfort on Wall Street. As unemployment ballooned and credit tightened, the country began to look inward, toward the origins of the panic and its disastrous consequences.”
In the end, however, the anxious captains of high finance left the meeting pleased to learn that Obama was totally in their camp. For instead of standing up for those who had been harmed most by the crisis—workers, minorities, and the poor – Obama sided unequivocally with those who had caused the meltdown.
“My administration is the only thing between you and the pitchforks,” Obama said. “You guys have an acute public relations problem that’s turning into a political problem. And I want to help…I’m not here to go after you. I’m protecting you…. I’m going to shield you from congressional and public anger.”
For the banking elite who destroyed millions of jobs in their lust for profit, there was, as Suskind puts it, “Nothing to worry about. Whereas [President Franklin Delano] Roosevelt had [during the Great Depression] pushed for tough, viciously opposed reforms of Wall Street and famously said ‘I welcome their hate,’ Obama was saying ‘How can I help?’” As one leading banker told Suskind, “The sense of everyone after the meeting was relief. The president had us at a moment of real vulnerability. At that point, he could have ordered us to do just about anything and we would have rolled over.
But he didn’t – he mostly wanted to help us out, to quell the mob.” When “the bankers arrived in the State Dining Room,” Suskind notes, “Obama had them scared and ready to do almost anything he said…. An hour later, they were upbeat, ready to fly home and commence business as usual” (Confidence Men).

LINK

Yeah Obama the great hope of millions of duped electors sold us all out to the big bankers. He told them “ you have nothing to worry about from the mob. From the unemployed masses, the untold millions of retirees who would now have to work longer years.

Indeed the swindlers of Wall Street could that weekend go golfing and have no worries as the millions of Americans were worrying that week whether they would even survive…
Indeed the Wall Street 13 could breath easy...Obama the great fraud of the century bailed them out and deserted the American people.

For they, the crooked banksters, had a friend, a good friend and defender in the White House who would protect them from the people and let their crimes go unpunished and at the same time allow them to proceed with their swindles and scams unabated.

Indeed, Barack Obama likely went golfing that weekend with one of those swindlers as he turned his back on the masses of American people to placate the rich…

A minute of your time

When I first read read the title of this thread , all I could think of was which one of the thousand of times is this thread about. Believe it or not, this was one I was not aware of. Thanks for piling on one more .

Isn't this kinda like the motto of capitalism?

start up. cash in. sell out. bro down.

a reply to: Willtell

I wouldn't just put the blame on Obama. Don't forget, the financial credit crisis happened before Obama took office. The course of action was already set by the Bush Administration. The bail out plan was already set in stone. I agree Obama sold us a bag of goods, but lets stop putting all the blame on him. There's a lot of blame to go around in both administrations.

George W Bush bail out plan - Part 1 Sept 24, 2008

a reply to: WeRpeons

Actually unless we are talking criminal trials maybe we should place the blame on the man currently leading the country........Lets even take a step further and probe just exactly who is running this corporate oligarchy that has hijacked our country and government.




Corporate oligarchy.....If you have never heard this before understand what it means and why it happened. If we just followed the constitution again this could not and would not happen.

a reply to: Willtell

I will promise you this, that if we have not gotten our troops out by the time I am president, it is the first thing I will do, I will get our troops home and we will end this war – you can take that to the bank – presidential candidate Barack Obama, Oct 27th 2007.

“president Obama has ordered 17,000 more troops to Afghanistan, it’s the first stage of a build-up that will eventually see 60,000 troops deployed to the country” – MSM propaganda, Feb 18th, 2009.

“It is in our vital national interest to send an additional 30,000 troops to Afghanistan” – president Barack Obama, 1st Dec 2009.

All on record.
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Technically one is a muppet with a hand up it's bottom, the other is also a muppet with a thing for Miss Piggy. But a very apt observation nonetheless.
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Obama and his predecessors, have continuously sold out the American people, except Kennedy, but he was assassinated during his presidency by the shadow government, couple of attempts made on others who didn't tow the line, but they lived and like the rest had / have lavish pensions and want for nothing until they die.

a reply to: Willtell

What's amazing about you retelling this story is the day after it happened I distinctly remember Limbaugh and Hannity on their programs lambasting the President for acting like a mobster and abusing the vulnerable banking industry.

Do you know what I'm waiting for? I'm waiting for Obama to get out of office and end up working for Goldman Sachs.

My question is, with all of this foul play and bamboozle, why use a bank for financial matters to begin with? Maintain a minimum deposit in a non-interest bearing account, so you can conveniently cash out your checks. Invest in a safe for your home.

If you want to buy a home.....save for it. Do not apply for a mortgage at a too big to fail bank. I won't go into all the alternatives, but with little interweb surfing you can get more details.

If everybody stopped using banks and invested in home security instead, what do you believe their fate be? #, if they want to swindle my $50 account deposit, go for it. I promise i could recoup that figure back from the establishment, with some finessing.

If you own a business, a municipal bank may be favorable. Credit cards are also a scam. Fortunately, it's just as easy to scam them back if they slid one into your hindquarters.

a reply to: trifecta

Inter-webbing is fun and all, but a few example links?

originally posted by: Sublimecraft
a reply to: Willtell

I will promise you this, that if we have not gotten our troops out by the time I am president, it is the first thing I will do, I will get our troops home and we will end this war – you can take that to the bank – presidential candidate Barack Obama, Oct 27th 2007.

“president Obama has ordered 17,000 more troops to Afghanistan, it’s the first stage of a build-up that will eventually see 60,000 troops deployed to the country” – MSM propaganda, Feb 18th, 2009.

“It is in our vital national interest to send an additional 30,000 troops to Afghanistan” – president Barack Obama, 1st Dec 2009.

All on record.
____________________________________________________

Technically one is a muppet with a hand up it's bottom, the other is also a muppet with a thing for Miss Piggy. But a very apt observation nonetheless.
____________________________________________________

Obama and his predecessors, have continuously sold out the American people, except Kennedy, but he was assassinated during his presidency by the shadow government, couple of attempts made on others who didn't tow the line, but they lived and like the rest had / have lavish pensions and want for nothing until they die.

I think ATS needs a Sublimecraft radio show!

On topic: the only "Change you can believe in" is a presidents position after taking office. You can take that to the bank but there will be a 3-5 day holding because your account is in the negative.

originally posted by: corvuscorrax
Isn't this kinda like the motto of capitalism?

start up. cash in. sell out. bro down.

It's even deeper than that. Make money by creating growth, make money by destroying that growth, and repeat. The common people of every civilization fall for it every time.

But it becomes obvious if people would take the time to chart each major boom & bust globally. While some countries are being developed or "fattened" (emerging economies & developing nations), the already fattened ones are being bled dry. And the ones that have already been bled dry are then forced to collapse, so they can be fattened again.

The people in the know profit from every point in this cycle, & simply shift their resources from one region to another. While the people who are in the dark complain over petty stuff like what the latest sock puppet "leader" is doing.

a reply to: Willtell

Obama has a CIA handler.
What more do you need to know.

a reply to: Willtell

Great thread and topic... if every American taxpayer knew this we might be in better shape.

a reply to: WeRpeons

I didn’t put all the blame on him. But he's president and so he gets a lot of the blame.

Obviously if I’m going to slam Obama for his neglect I am going to slam Bush for his ineptitude as well.

Sure Bush is the prince of darkness every one with eyes to see understands that


The thing is Obama really NEVER fought for nothing.

The article I quote mentions Roosevelt, a president who FOUGHT for the little guy’


All Obama does is platitudes and weak limp wristed liberal dogma…he never goes to the mat for anything


He’s like a soulless con man that only gets exited when prompted to get reelected never over the cause of justice, or equality or ANY issue

a reply to: corvuscorrax

Nope.

Real capitalism is too busy trying to take materials, turn them into products worth more on the OPEN market than the sum of the parts, and reinvest the difference into the business and community to have a motto.

What you described is every centrally controlled economic system ever. Including corporatism.

~CSI

originally posted by: corvuscorrax
Isn't this kinda like the motto of capitalism?

start up. cash in. sell out. bro down.

I'm not sure what your idea of capitalism is? Wikipedia lists capitalism as the private ownership of property. Government control over the money industry would be government control of the means of production. That would be communism. And of course, control over the money industry gives you vast leverage over all other industries as well.

Voters have no patience for something practical and worthwhile like capitalism when they can simply elect the people the bankers want them to, who then subsidize and control the industries the voters vote for, which above all is the banking industry. If you have a complaint about capitalism, then take your complaint to Singapore, where capitalism almost exists. So, you can tell the hundreds of thousands of immigrants flooding into that city that they are better off under socialism in your United States where capitalism no longer exists in any substantial way whatsoever.

The idea that the United States is capitalist is about as wrong as you can get. Its not communist either, its a mixed economy near a 40/60 split. After you add up federal, state, and local spending, you have nearly half of the US economy defined by governments. Feudal slavery would be 90% owned by the government. While this would have been a wise financial decision by are overlords and slave masters who decide how much of our own money we have the privilege to keep each year, to keep half our earnings on average, it really just an issue that was forced through the American Revolution. And with that problem with excessive freedoms and "capitalism" now over, we are back on track to a fiscally liberal paradise world utopia like Detroit and Greece.

I really don't have a problem with voter's support for morally corrupt theft of property by robin-hood socialism so much as a I have a problem with voter's abject stupidity to vote for the suggestions of banks and insurance companies. You really do seem to get what you vote for in Republics. The people vote for the pick's of bankers and insurance companies, so that is who is in charge in America. I'm not sure people in other countries are quite that level of mental retard? But in any case, government monopolies like the US dollar are not a feature of capitalism... government monopolies of an industry would be a feature of communism.

a reply to: trifecta

Yes!!

The power we have is to vote with our dollars!!

I have at least awakened enough to realize if I had saved even a fraction of the cash I pissed away on worthless crap I would already be debt free, owning a home, and doing whatever the hell I want with my time.

I am highly motivated in that direction now. Better late than never.

~CSI

a reply to: Willtell

Obama's biggest donors were bankers and insurance companies. The people selected the #1 choice of bankers, lobbyists, and insurance companies. The people got their choice in office. Congratulations to the people, and their banks and insurance companies, who they clearly support above their own personal interests. The people are a generous people and their overlords at JP Morgan, Bank of America, and Goldman Sach's are grateful for the peon's money.

We don't have a government problem. We have a people problem.