Obama Plans Gutting Regulations for Corporate Favorites - by Stephen Lendman
Promising change after eight Republican dominated years, Obama betrayed the public trust by special favors given business at the expense of essential growing needs.
Spurning them, in fact, he shows contempt for the things he rhetorically supports, proving he's no different from the worst of the bipartisan criminal class, serving wealth and power interests only.
As a result, he backed Wall Street's financial coup d'etat, looted the nation's wealth for them, institutionalized speculation and corporate racketeering, wrecked the economy, and consigned millions to impoverishment without jobs, homes, savings, social services, or futures.
Now more is planned, first announced in a January 18, 2011 Executive Order, (EO) titled, "Improving Regulation and Regulatory Review" to benefit business, no matter the public cost.
On February 7, Obama elaborated in a Chamber of Commerce speech, promising to "remove outdated, unnecessary regulations" to free business more than ever since the roaring twenties to do whatever they damn well please, saying:
"I understand the challenges you face. I understand you are under incredible pressure to cut costs and keep your margins up. I understand the significance of your obligations to your shareholders and the pressures that are created by quarterly reports. I get it."
What he doesn't "get" or give a damn about is growing human need. Instead, he focuses solely corporate bottom line concerns no leader should prioritize over greater ones affecting millions of troubled households during the nation's gravest economic crisis in decades, one he's worsening, not alleviating.