Share on Google Plus Share on Twitter Share on Facebook Share on LinkedIn Share on PInterest Share on Fark! Share on Reddit Share on StumbleUpon Tell A Friend

Printer Friendly Page Save As Favorite View Favorites (# of views)   3 comments
OpEdNews Op Eds

"It's Almost As If The Administration Is Opting for a Rose-Colored-Glasses PR Strategy" Instead of Looking at Reality

By       Message George Washington     Permalink
      (Page 1 of 1 pages)
Related Topic(s): ; ; ; ; ; ; , Add Tags Add to My Group(s)

View Ratings | Rate It Headlined to H3 8/18/09

Author 8941
Become a Fan
  (5 fans)
- Advertisement -

Donald W. Riegle Jr. is a former Senator and was - for 5 years - chair of the Senate Banking Committee.

Riegle co-wrote an article today with the former CEO of AT&T Broadband and the international president of the United Steelworkers saying:

It's almost as if the administration is opting for a rose-colored-glasses PR strategy rather than taking a hard-nose look at actual consumer and employment figures and their trends, and modifying its economic policies accordingly.
As I have repeatedly pointed out, psychologists say that - until government and business leaders prove they can behave responsibly, and until the perpetrators of financial fraud are held accountable - real trust will not be restored and the economy will not recover.

There was massive fraud between 2001 and 2007. Indeed, massive fraud is continuing today.

But Team Obama has not prosecuted any of the criminals (other than a few token bad guys, like Madoff). And the White House and Congress have not made any real changes. They haven't put the separation between investment and depository banking (Glass-Steagall) back in place, they haven't cracked down on naked credit default swaps or naked shorting, or done anything fundamental at all to ensure that another crash doesn't occur. See this, this and this.

Papering over fraud, propping up the same old system and then and turning up the volume on the happy-talk PR campaign will not work.
- Advertisement -

The economy cannot recover unless those who gamed the financial system are indicted, the real consumer, employment and other core numbers are discussed, and fundamental structural changes are made to the banking, credit rating, regulatory and financial systems.
- Advertisement -


- Advertisement -

View Ratings | Rate It

George Washington

As a political activist for decades, I have rejoiced in victories for the people and mourned in defeats. I chose the pen name "George Washington" because - as Washington's biographies show - he wasn't a (more...)

Share on Google Plus Submit to Twitter Add this Page to Facebook! Share on LinkedIn Pin It! Add this Page to Fark! Submit to Reddit Submit to Stumble Upon

Go To Commenting
/* The Petition Site */
The views expressed in this article are the sole responsibility of the author and do not necessarily reflect those of this website or its editors.

Writers Guidelines

Contact AuthorContact Author Contact EditorContact Editor Author PageView Authors' Articles
- Advertisement -

Most Popular Articles by this Author:     (View All Most Popular Articles by this Author)

Top Financial Experts Say World War 3 Is Coming -- Unless We Stop It

Indonesian Health Minister Says Swine Flu Might Have Been Man-Made | Epidemiologists and Virologists Need to Weigh In

Obama Is Considering Doing Something Even Bush Didn't Try: "Preventive Detention" of People Who Will Never Get a Trial

How To Solve the Economic Crisis

The Four Reasons the Mainstream Media Is Worthless

5 Reasons that Corporate Media Coverage is Pro-War