Later On

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Archive for the ‘Obama administration’ Category

Congress targets a California law that aims to give low-income workers retirement security

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Evan Halper reports in the LA Times:

ambitious California law intended to help create retirement security for low-income workers is in the crosshairs of the Trump-era Congress, which is moving to block the state and others from launching programs to automatically enroll millions of people in IRA-type savings plans.

The push is one of the most direct confrontations yet with California and other liberal states by a GOP-led Congress emboldened by President Trump’s election.

And it is intensifying the debate about whether conservatives who now control Washington will honor their pledge to respect states’ rights, even when states pursue policies out of step with the Republican agenda.

By targeting the novel “auto IRA”-style programs, congressional Republicans are also provoking one of California’s most visible leaders, state Senate President Pro Tem Kevin de León, the Democrat who championed the policy in California and nationwide and is leading a movement in the Legislature to resist the Trump White House.

The 2016 law being targeted requires employers to enroll 6.8 million California workers who currently have no access to a retirement savings account at work in a state-sponsored plan. Millions more in seven other states that have passed laws similar to California’s would also be enrolled in those states. Many more states are now weighing joining a movement that has been years in the making.

California first took steps toward creating its program in 2012. Other states, including Illinois, have been slowly implementing their own laws, which have been complicated by federal Labor Department rules governing such investment pools.

In its final months, the Obama administration gave states the green light to pursue their vision.

The state laws generally require employers with no retirement plans to automatically invest a small percentage of each worker’s pay in a state-sponsored retirement account. Employers are not required to contribute anything and workers can opt out of the program if they choose.

The first such program was expected to launch this year in Oregon. California and other states were hoping to begin next year.

Now at the urging of the U.S. Chamber of Commerce and a coalition of Wall Street investment firms long opposed to government-sponsored retirement programs that could compete with their own offerings, key Republicans are moving to revoke the federal approval.

“Our nation faces difficult retirement challenges, but more government isn’t the solution,” said a statement from Rep. Tim Walberg (R-Mich.), chairman of a House subcommittee on retirement issues who is taking a lead in the repeal effort.

Walberg and his colleagues are invoking an obscure parliamentary tool that gives Congress a small window to repeal new regulations. It has rarely been used in recent years because any repeal effort would have faced certain veto by President Obama. But under Trump, it is now a potent tool for Republicans to swiftly unwind Obama-era regulations.

“The results of the November election give us an opportunity to go back and correct this,” Aliya Wong, executive director of retirement policy at the U.S. Chamber of Commerce, said of its effort to block California and other states from moving ahead with their programs.

No hearings are required before the full House votes on the repeal of the federal approval, which could happen as soon as next week. . .

Continue reading.

It’s really out in the open now, isn’t it? The next step will be fistfights.

And contract reporter? Shouldn’t he be on staff?

In that connection, note the GoFundMe of Pizza for the Newsroom: contribute toward buying pizza for the staff of the NY Times and the Washington Post. I have digital subscriptions to both, and they are fully worth it. And I bought a pizza, too.

Written by LeisureGuy

17 February 2017 at 7:40 pm

Who Will Watch the Agents Watching Our Borders?

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And they clearly need watching. Indeed, the Border Patrol seems dangerously out of control, and Gil Kerlikowske’s efforts at reform had few tangible results. (It’s much like the Mafia in that newcomers—children in Mafia families, new agents at the Border Patrol and new recruits in some police departments (Chicago, Baltimore, Boston, Albuquerque, and so on) are shaped by the common culture of the group and thus the group strongly resists change, particularly if it is a closed and authoritarian group that is not open to outside ideas.

Linda Greenhouse writes in the NY Times:

Whom do federal immigration agents despise more: former President Barack Obama, or the immigrants whose lives are in their hands?

That uncomfortable question came to mind as I read articles over the past week of the growing numbers of raids, roundups, the knocks on the door, the flooding of “target-rich environments,” a phrase an anonymous immigration official used in speaking to The Washington Post. What’s a target-rich environment? “Big cities,” the official explained, “tend to have a lot of illegal immigrants.”

Clearly, with President Trump’s executive orders having expanded the category of immigrants deemed worth pursuing and deporting, the gloves are off. There’s been plenty of news coverage of this development, but few reminders of the context in which the pursuers have been freed from previous restraints.

That everything in that statement except for the reference to Mr. Trump was untrue is not the point. (Far from failing to enforce the law, the Obama administration deported more than 400,000 unauthorized immigrants a year, and Mr. Trump’s Democratic rival endorsed neither total amnesty nor open borders.) Rather, the statement is evidence of how openly these law enforcement officers have been chafing at the bit to do their jobs as they please.

And chafing for a long time: back in 2012, Mr. Crane was the lead plaintiff in a lawsuit against the Obama administration’s deferral of deportation for immigrants brought to the United States as children. The claim was that the program put agents in a position of either failing to enforce immigration law as written or suffering reprisals at work for not adhering to the new policy. The plaintiffs were represented by Kris Kobach, the Kansas secretary of state. An anti-immigration activist who joined the Trump transition team as an adviser on immigration, Mr. Kobach is an originator of the false “massive voter fraud” rationale for voter ID requirements and has exported anti-immigrant legislation to states around the country, most notably Arizona.

A federal district judge in Dallas dismissed Mr. Crane’s lawsuit against the deferral program. Mr. Crane also showed his disdain for President Obama by refusing to allow members to participate in a course aimed at training immigration agents in carrying out the Obama administration’s policy that gave priority to deporting high-risk offenders rather than immigrants with clean records and deep roots in the country. Last month, after President Trump issued his immigration orders, Mr. Crane’s union and the union representing Border Patrol officers issued a joint statement declaring that, in case anyone asked, “morale among our agents and officers has increased exponentially” as a result of the president’s promised actions.

Why does any of this matter — aside from the irony of these public employee unions having achieved pride of place in the conservative firmament, while Republican governors and legislatures are moving quickly to disable public employee unions they find troublesome?

It matters because along with entrusting our immigration enforcers to keep us safe, in the president’s often-tweeted phrase, we also entrust them with the responsibility of treating unauthorized immigrants not as prey but as human beings entitled to dignity, even if only minimally to due process.

Not everyone shares that view. I get that, and I’m reminded of it every time I write about immigration. Reader comments on articles about immigration, including the gripping one last week about Guadalupe García de Rayos, the Phoenix woman and mother of two American children who was abruptly deported when she dutifully showed up for her routine check-in at the local ICE office, run to “if she wasn’t illegal in the first place, she wouldn’t have been deported.”

Right. I’d like to think we’re better than that. A month ago, we were.

In what may be an early warning of what’s to come, last Friday immigration agents in Seattle took a 23-year-old Mexican into custody despite his paperwork proving that he had been granted work authorization under the deferred-deportation program, which for now remains in effect.

And chafing for a long time: back in 2012, Mr. Crane was the lead plaintiff in a lawsuit against the Obama administration’s deferral of deportation for immigrants brought to the United States as children. The claim was that the program put agents in a position of either failing to enforce immigration law as written or suffering reprisals at work for not adhering to the new policy. The plaintiffs were represented by Kris Kobach, the Kansas secretary of state. An anti-immigration activist who joined the Trump transition team as an adviser on immigration, Mr. Kobach is an originator of the false “massive voter fraud” rationale for voter ID requirements and has exported anti-immigrant legislation to states around the country, most notably Arizona.

A federal district judge in Dallas dismissed Mr. Crane’s lawsuit against the deferral program. Mr. Crane also showed his disdain for President Obama by refusing to allow members to participate in a course aimed at training immigration agents in carrying out the Obama administration’s policy that gave priority to deporting high-risk offenders rather than immigrants with clean records and deep roots in the country. Last month, after President Trump issued his immigration orders, Mr. Crane’s union and the union representing Border Patrol officers issued a joint statement declaring that, in case anyone asked, “morale among our agents and officers has increased exponentially” as a result of the president’s promised actions.

Why does any of this matter — aside from the irony of these public employee unions having achieved pride of place in the conservative firmament, while Republican governors and legislatures are moving quickly to disable public employee unions they find troublesome?

It matters because along with entrusting our immigration enforcers to keep us safe, in the president’s often-tweeted phrase, we also entrust them with the responsibility of treating unauthorized immigrants not as prey but as human beings entitled to dignity, even if only minimally to due process.

Not everyone shares that view. I get that, and I’m reminded of it every time I write about immigration. Reader comments on articles about immigration, including the gripping one last week about Guadalupe García de Rayos, the Phoenix woman and mother of two American children who was abruptly deported when she dutifully showed up for her routine check-in at the local ICE office, run to “if she wasn’t illegal in the first place, she wouldn’t have been deported.”

Right. I’d like to think we’re better than that. A month ago, we were.

In what may be an early warning of what’s to come, last Friday immigration agents in Seattle took a 23-year-old Mexican into custody despite his paperwork proving that he had been granted work authorization under the deferred-deportation program, which for now remains in effect.

“It doesn’t matter, because you weren’t born in this country,” one of the immigration enforcement agents told the man, Daniel Ramírez Medina, according to a petition for habeas corpus filed on his behalf in Federal District Court in Seattle. Mr. Ramírez was brought to this country at age 7 and twice qualified for the deferral program, most recently with a renewal last May. On Tuesday, a federal magistrate judge gave the federal government until Thursday to explain the basis for the detention.

This column is usually about the Supreme Court, and this one is, too. Next Tuesday, the justices’ first day back from a monthlong recess, the court will hear an important case on whether a Border Patrol officer can be required to pay damages to the family of a Mexican boy he killed with a bullet fired across the dry bed of the Rio Grande, the international border that separated the two by only yards. The facts of the case, Hernández v. Mesa, sound highly unusual, but they aren’t; there have been 10 cross-border shootings in recent years in addition to several dozen others along the border.

This case raises important questions about the extraterritorial reach both of the Constitution and the damages remedy that is available to United States citizens whose constitutional rights are violated on American soil by a federal official. Sergio Hernández, the unarmed 15-year-old killed seven years ago by the Border Patrol agent, Jesus Mesa Jr., was not an American citizen, and the bullet reached him in Mexico. He and his friends had been playing in a dry culvert, daring each other to run up the opposite bank and touch the barbed-wire fence on the American side. The F.B.I. report initially claimed that the boys were throwing rocks at the agent, but cellphone videos showed Sergio hiding under a railroad trestle in the last minutes of his life. He was shot when he stuck his head out from his hiding place.

The Justice Department investigated but declined to prosecute Mr. Mesa. Mexico charged the agent with murder, but the United States refused to extradite him. Sergio’s parents sued for damages, but lost when the United States Court of Appeals for the Fifth Circuit ruled that even if Sergio had constitutional rights that were violated by the shooting, the existence of any right was sufficiently unclear as to entitle Mr. Mesa to “qualified immunity,” a legal shield extended to official defendants when the relevant law is deemed uncertain. Because the case has never gone to trial, the eventual Supreme Court decision won’t resolve the conflicting accounts or establish the motive for the agent’s fatal shot. But presumably the law will be clear, one way or another, the next time such an incident occurs.

On the chaotic night last month . . .

Continue reading.

The Border Patrol will have no trouble finding its footing in an authoritarian regime: they’re already there.

Written by LeisureGuy

16 February 2017 at 1:14 pm

The Watchdog Protecting Consumers May Be Too Effective

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The last thing on earth that corporations (and thus the GOP) wants is for consumers to be protected. Consumers are their prey, and if consumers are protected profits may fall. Gretchen Morgenson reports in the in the NY Times:

In its promise to roll back the Dodd-Frank financial reform act of 2010, the Trump administration hasn’t provided many details. It’s a safe bet, however, that the Consumer Financial Protection Bureau, the federal agency charged with protecting consumers from financial miscreants, will be a target.

Why would the president want to rein in the only federal agency dedicated to the consumer finance beat? Perhaps it has been a little too effective in pursuing wrongdoing by banks, consumer credit reporting companies, credit card issuers and student loan collectors.

While these activities have earned kudos from Main Street, the bureau has also made powerful enemies among financial institutions whose executives have the ear of Mr. Trump and other Republicans. According to a leaked memo that emerged late this week, Jeb Hensarling, the Texas Republican who heads the House Financial Services Committee, will move forward with legislation to weaken the bureau and its enforcement powers.

Republican lawmakers like Mr. Hensarling have been trying to hobble the bureau ever since its creation in 2012 under Dodd-Frank. But none of these efforts have gotten far.

With a new administration in town, the momentum against the bureau is building, said Quyen Truong, a partner at Stroock & Stroock & Lavan and a former assistant director and deputy general counsel at the C.F.P.B. Although she said that it’s unlikely the bureau will be eliminated, its structure as an independent agency whose budget does not have to be approved by Congress may be threatened.

Future rule-making could also come under fire, Ms. Truong said. “If the C.F.P.B. was to adopt new regulations,” she said, “there would be greater potential for Congress to put a stop to it by removing C.F.P.B.’s authority to adopt those rules or taking action after the fact to undo the regulations.”

Reducing the bureau’s power would deal a blow to consumers, because other federal finance regulators just don’t have their interests at heart. Entities such as the Federal Reserve Board and the Office of the Comptroller of the Currency are charged with monitoring banks for safety and soundness. Historically, this has translated to a regulatory focus on profitability at these institutions. And if those profits come at the expense of consumers, well, c’est la vie.

A 2009 research report from the Center for Responsible Lending, a nonprofit consumer organization, spoke to this issue. It said that the O.C.C. and the defunct Office of Thrift Supervision took the view that banks were “customers rather than entities to be regulated.”

Recall that in the Wild West run-up to the 2008 financial crisis, the Fed and O.C.C. were glacial about curbing reckless mortgage lending. It wasn’t until March 2007, just as the tsunami of subprime losses was cresting, that the Fed and other regulators published guidance urging lenders to consider a borrower’s ability to repay a loan.

And in a blinding glimpse of the obvious, the Fed also urged banks that “communications with consumers should provide clear and balanced information about the relative benefits and risks of the products.”

Even these tepid suggestions raised the banks’ ire: Their representatives called the guidance an example of regulatory overreach.

So it’s not surprising that the more aggressive stance taken by the C.F.P.B. has enraged big financial institutions and their supporters in Washington. Just last month, for example, it sued Navient, the giant student loan servicer, charging it with cheating borrowers, allegations the company denied. And in early February, the bureau sued a New Jersey-based legal funding company, alleging that it swindled first responders to the World Trade Center attack out of money they were owed from victim compensation funds.

One of the C.F.P.B.’s best features is . . .

Continue reading.

Written by LeisureGuy

11 February 2017 at 6:41 pm

Suffering under Obama…

with 2 comments

Via The Eldest on Facebook:

Copied (with permission) from a friend’s page.

A Facebook friend told him, “We suffered for 8 years. Now it’s your turn.”

Scott’s reply:

I am surprised you would wish suffering upon me. That of course is your right, I suppose. I do not wish harm on anyone. Your statement seems to continue an ‘US v THEM’ mentality. The election is over. It is important to get past campaigning and campaign rhetoric and get down to what is uniting not dividing and what is best for ALL Americans.

There will never be a President who does everything to everyone’s liking. There are things President Obama (and President Clinton) did that I do not like and conversely there are things I can point to that the Presidents Bush did that I agree with. So I am not 100% in lock step with the outgoing President but have supported him and the overall job he did.

And, if you recall, during the Presidential Campaign back in 2008 the campaign was halted because of the “historic crisis in our financial system.” Wall Street bailout negotiations intervened in the election process. The very sobering reality was that there likely could be a Depression and the world financial markets could collapse. The United States was losing 800,000 jobs a month and was poised to lose at least 10 million jobs the first year once the new President took office. We were in an economic freefall. So let us recall that ALL of America was suffering terribly at the beginning of Obama’s Presidency.

But I wanted to lookback over the last 8 years and ask you a few questions. Since much of the rhetoric before Obama was elected was that he would impose Sharia Law, Take Away Your Guns, Create Death Panels, Destroy the Economy, Impose Socialism and, since you will agree that NONE of this came to pass, I was wondering:

Why have you suffered so?

So let me ask:

Gays and Lesbians can now marry and enjoy the benefits they had been deprived of. Has this caused your suffering?

When Obama took office, the Dow was 6,626. Now it is 19,875. Has this caused your suffering?

We had 82 straight months of private sector job growth – the longest streak in the history of the United States. Has this caused your suffering?

Especially considering where he the economy was when he took over, an amazing 11.3 million new jobs were created under President Obama (far more than President Bush). Has this caused your suffering?

Obama has taken Unemployment from 10% down to 4.7%. Has this caused your suffering?

Homelessness among US Veterans has dropped by half. Has this caused your suffering?

Obama shut down the US secret overseas prisons. Has this caused your suffering?

President Obama has created a policy for the families of fallen soldiers to have their travel paid for to be there when remains are flown home. Has this caused your suffering?

We landed a rover on Mars. Has this caused your suffering?

He passed the Matthew Shepard Hate Crimes Prevention Act. Has this caused your suffering?

Uninsured adults has decreased to below 10%: 90% of adults are insured – an increase of 20 Million Adults. Has this caused your suffering?

People are now covered for pre-existing conditions. Has this caused your suffering?

Insurance Premiums increased an average of $4,677 from 2002-2008, an increase of 58% under Bush. The growth of these insurance premiums has gone up $4,145 – a slower rate of increase. Has this caused your suffering?

Obama added billions of dollars to mental health care for our Veterans. Has this caused your suffering?

Consumer confidence has gone from 37.7 to 98.1 during Obama’s tenure. Has this caused your suffering?

He passed the Lilly Ledbetter Fair Pay Act. Has this caused your suffering?

His bi-annual Nuclear Summit convinced 16 countries to give up and destroy all their loose nuclear material so it could not be stolen. Has this caused your suffering?

He saved the US Auto industry. American cars sold at the beginning of his term were 10.4M and upon his exit 17.5M. Has this caused your suffering?

The deficit as a percentage of the GDP has gone from 9.8% to 3.2%. Has this caused your suffering?

The deficit itself was cut by $800 Billion Dollars. Has this caused your suffering?

Obama preserved the middle class tax cuts. Has this caused your suffering?

Obama banned solitary confinement for juveniles in federal prisons. Has this caused your suffering?

He signed Credit Card reform so that rates could not be raised without you being notified. Has this caused your suffering?

He outlawed Government contractors from discriminating against LGBT persons. Has this caused your suffering?

He doubled Pell Grants. Has this caused your suffering?

Abortion is down. Has this caused your suffering?

Violent crime is down. Has this caused your suffering?

He overturned the scientific ban on stem cell research. Has this caused your suffering?

He protected Net Neutrality. Has this caused your suffering?

Obamacare has extended the life of the Medicare insurance trust fund (will be solvent until 2030). Has this caused your suffering?

President Obama repealed Don’t Ask Don’t Tell. Has this caused your suffering?

He banned torture. Has this caused your suffering?

He negotiated with Syria to give up its chemical weapons and they were destroyed. Has this caused your suffering?

Solar and Wind Power are at an all time high. Has this caused your suffering?

High School Graduation rates hit 83% – an all time high. Has this caused your suffering?

Corporate profits are up by 144%. Has this caused your suffering?

He normalized relations with Cuba. Has this caused your suffering?

Reliance on foreign oil is at a 40 year low. Has this caused your suffering?

US Exports are up 28%. Has this caused your suffering?

He appointed the most diverse cabinet ever. Has this caused your suffering?

He reduced the number of troops in both Iraq and Afghanistan. Has this caused your suffering?

Yes, he killed Osama Bin Laden and retrieved all the documents in his possession for analysis. Perhaps THIS caused your suffering?

From an objective standpoint it would appear that the last 8 years have seen some great progress and we were saved from a financial collapse. Things are not perfect. Things can always be better. We are on much better footing now than we were in 2008.

I look forward to understanding what caused you to suffer so much under Obama these last 8 years.

Written by LeisureGuy

9 February 2017 at 12:51 pm

Here’s Another Way Wells Fargo Took Advantage Of Customers

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Speaking of psycopaths in corporations… Jesse Eisinger reports in ProPublica:

Wells Fargo, the largest mortgage lender in the country, portrays itself as a stalwart bankthat puts customers first. That reputation shattered in September, when it was fined $185 million for illegally opening as many as 2 million deposit and credit-card accounts without customers’ knowledge.

Now four former Wells Fargo employees in the Los Angeles region say the bank had another way of chiseling clients: Improperly charging them to extend their promised interest rate when their mortgage paperwork was delayed. The employees say the delays were usually the bank’s fault but that management forced them to blame the customers.

The new allegations could exacerbate the lingering damage to the bank’s reputation from the fictitious accounts scandal. Last week, Wells Fargo reported declining earnings. In the fourth quarter, new credit card applications tumbled 43 percent from a year earlier, while new checking accounts fell 40 percent.

“I believe the damage done to Wells Fargo mortgage customers in this case is much, much more egregious,” than from the sham accounts, a former Wells Fargo loan officer named Frank Chavez wrote in a November letter to Congress that has not previously been made public. “We are talking about millions of dollars, in just the Los Angeles area alone, which were wrongly paid by borrowers/customers instead of Wells Fargo.” Chavez, a 10-year Wells Fargo veteran, resigned from his job in the Beverly Hills private mortgage group last April. Chavez sent his letter to the Senate banking committee and the House financial services committee in November. He never got a reply.

Three other former employees of Wells Fargo’s residential mortgage business in the Los Angeles area confirmed Chavez’s account. Tom Swanson, the Wells Fargo executive in charge of the region, directed the policy, they say. . .

Continue reading.

No Wells Fargo executive has been held criminally liable for the fraud they ran. They got away with it, scot-free, thanks to the Obama Department of Justice’s very gentle approach to financial crimes committed by large corporations. I doubt that Trump’s DoJ will be any better.

Do read the entire report. There’s a lot more and Eisinger explains how this particular Wells Fargo scam worked.

Written by LeisureGuy

23 January 2017 at 2:20 pm

I think we will see an abrupt change in direction for the Civil Rights Division

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In the New Yorker Jennifer Gonnerman has a profile of Vanita Gupta, the head of the Civil Rights Division of the Deartment of Justice.

From the article at the link:

. . . Gupta joined the Justice Department in the fall of 2014—nine weeks after Michael Brown was killed by a police officer in Ferguson, Missouri. She spent the next two years travelling all over the country—to Ferguson, Cleveland, New Orleans, Baltimore, and elsewhere—to meet with mayors, police chiefs, and citizens, in an attempt to repair the deeply damaged relationships between police departments and their communities. Under Obama, the Civil Rights Division took a more aggressive approach than ever before to stamping out systemic police abuse: the Division negotiated twenty-four agreements with law-enforcement agencies to reform their practices; fifteen of those agreements were consent decrees, which are enforced by a court.

On January 12th, Gupta had been in Baltimore announcing a consent decree with the Baltimore Police Department to address the egregious injustices identified by the Division in an earlier report. The next day, she had been in Chicago to release a devastating hundred-and-sixty-one-page report on that city’s police department. Now she had no idea what might come of all this work. Early in his tenure as Attorney General, Eric Holder had called the Civil Rights Division the “crown jewel” of the Justice Department. Now Senator Jeff Sessions—who had attacked the Civil Rights Division, in 2015, at a Senate hearing called “The War on Police,” saying that it had “an agenda that’s been a troubling issue for a number of years”—was poised to become the next Attorney General.

During the Obama Presidency, the Civil Rights Division was at the center of many of the nation’s most contentious political battles: over policing as well as voting rights, fair housing, hate crimes, and transgender rights. . .

Written by LeisureGuy

21 January 2017 at 6:02 pm

An interesting and sobering take on how the practice of politics has changed and with what results

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Pam Martens and Russ Martens report in Wall Street on Parade:

The man who was compared to a Messiah when he won the presidential election in 2008 has been on an excruciatingly long goodbye tour. First there was his farewell speech to the United Nations in September. Next came his farewell tour across Europe in November – the Messiah’s last foreign trip. Then there was his farewell speech in the U.S. Yesterday, there was a tortuously vacuous farewell press conference, which toward the end, had the feeling that actors from central casting had replaced real journalists in the press room in order to memorialize the greatness of this President.

Whenever I think about this President, I think of Bruce Dixon, the Managing Editor of the Black Agenda Report in 2008 during Obama’s first presidential campaign. The Black Agenda Report writes for black Americans. Dixon wrote the following in February 2008:

Whether it is truly possible to hold elected officials accountable in a political system where big money, big media, big corporations and the very rich call all the  shots is uncertain.  But we have tried and will keep trying.  So will others.  The stakes are too high not to…

The 2008 Obama presidential run may be the most slickly orchestrated marketing machine in memory. That’s not a good thing. Marketing is not even distantly related to democracy or civic empowerment. Marketing is about creating emotional, even irrational bonds between your product and your target audience. From its Bloody Sunday 2007 proclamation that Obama was the second coming of Joshua to its nationally televised kickoff at Abe Lincoln’s tomb to the tens of millions of dollars in breathless free media coverage lavished on it by the establishment media, the campaign’s deft manipulation of hopeful themes and emotionally potent symbols has led many to impute their own cherished views to Obama, whether he endorses them or not.

We were also not among the converted as a result of spending months conducting a forensic examination of Obama’s campaign accounts. In May of 2008, we wrote the following:

The Wall Street plan for the Obama-bubble presidency is that of the cleanup crew for the housing bubble: sweep all the corruption and losses, would-be indictments, perp walks and prosecutions under the rug and get on with an unprecedented taxpayer bailout of Wall Street. (The corporate law firms have piled on to funding the plan because most were up to their eyeballs in writing prospectuses or providing legal opinions for what has turned out to be bogus AAA securities. Lawsuits naming the Wall Street firms will, no doubt, shortly begin adding the law firms that rendered the legal guidance to issue the securities.) Who better to sell this agenda to the millions of duped mortgage holders and foreclosed homeowners in minority communities across America than our first, beloved, black president of hope and change?

Why do Wall Street and . . .

Continue reading.

Obama has been an historic president, for sure, and in many ways he’s been a good president (IMO), despite the determined opposition of the GOP, which conducted a take-no-prisoners campaign against him. Obama finally brought a version of national health insurance into being. That can—could have—served as a foundation for a true national health insurance, though it’s gone now.

Still, Obama did some things that don’t sit well with me: he made too many Wall Street appointments to regulatory positions, with a revolving door return to Wall Street; his refusal to obey the law and investigate and prosecute those guilty of war crimes; his vindictive persecution of whistleblowers and leakers; lack of transparency and infrequency of press conferences; and so on.

Written by LeisureGuy

21 January 2017 at 3:19 pm

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