Obama Plan Blows Secret Kisses to Wall Street
If President Obama is so tough on Wall Street, why is Goldman Sachs supporting his financial regulation bill? The CEO of Goldman Sachs spilled the beans at a Senate hearing, telling them, “The biggest beneficiary of reform is Wall Street itself.”
Financiers know that the bill guarantees them future bailouts. Obama pretends otherwise by using a nonsense definition of bailouts. He considers it okay to send billions to pay off a company’s creditors—who typically are big companies and Wall Street firms. Then he denies that’s a bailout.
So while he pummels them in public, Obama pushes a plan that rewards his Wall Street friends and big donors. They’ll absorb the rhetoric, because they’re getting paid to do so. And paid quite well.
Here are the details: “Obama Plan Blows Secret Kisses to Wall Street.”