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General News    H2'ed 5/27/10

OBAMA TALKS LEFT BUT WALKS RIGHT ON FINANCIAL REFORM

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OBAMA TALKS LEFT TO MOVE RIGHT AS WALL STREET CRIMINALS ARE GIVEN A FREE PASS AND REFORMS ARE WATERED DOWN


Is The President The Kind of Leader Chairman Mao Warned Us About?


By Danny Schechter

Author of The Crime Of Our Time


We now know that it was the Obama Administration led by the President himself who used techniques well understood and denounced decades earlier by none other than Mao TseTung.


Mao had no use for those who talked left to move right.


In several high profile speeches, Obama lashed out at Wall Street for its greed and mendacity, proposing financial reforms that appeared to be hard hitting if only because of the way the lobbyists for the financial services industry squealed about them.


But even as he was feinting left, he and his main economic operative, Tim Geithner, were moving right to kill off amendments that the bankers hated like Senator Bernie Sanders's proposal for a deep audit of the Federal Reserve Bank and the Brown-Kaufman Amendment that would have broken up the six biggest banks in America."


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News Dissector Danny Schechter is blogger in chief at Mediachannel.Org He is the author of PLUNDER: Investigating Our Economic Calamity (Cosimo Books) available at Amazon.com. See Newsdisssector.org/store.htm.
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