Surely President Obama knows that we live in a plutocracy or something far too close to one. Surely he does not approve. Granted these two premises, I can only conclude that he thinks he is powerless to do much about it.
The financial industry has been dealt with tenderly, despite some brave words to the contrary. Tim Geithner's ties to Wall Street are cause for alarm. He is too much in the mold of Henry Paulson. Larry Summers provides no comfort.
Congressional Committees seeking to provide stiffer regulation are having tough going. "Committee Chairman Barney Frank (D-Mass.) is none too thrilled by the watering-down he has been compelled to accept by the New Democrats -- chiefly Democrats from affluent, suburban swing districts -- on his committee," says Harold Myerson in The Washington Post, (October 14, 2009).
Does anyone know how we can elect a Congress with Ralph Nader's ideas on this subject and a President who will suppport their legislation?