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KILLER_CLOWN
08-21-2009, 08:20 PM
George Washington Blog
Friday, August 21, 2009

Paul Krugman wrote in the New York Times yesterday:

I don’t know if administration officials realize just how much damage they’ve done themselves with their kid-gloves treatment of the financial industry, just how badly the spectacle of government supported institutions paying giant bonuses is playing. But I’ve had many conversations with people who voted for Mr. Obama, yet dismiss the stimulus as a total waste of money. When I press them, it turns out that they’re really angry about the bailouts rather than the stimulus — but that’s a distinction lost on most voters.

So there’s a growing sense among progressives that they have, as my colleague Frank Rich suggests, been punked. And that’s why the mixed signals on the public option created such an uproar.

Krugman makes a good point. Progressives are furious that the giant gamblers which caused the financial crisis have gotten taxpayer money showered on them by the government, without any reform. (Whether Krugman’s take on Keynesian stimulus is right or wrong is beyond the scope of this discussion.)

And Krugman is right that progressives are more sceptical of Obama’s “public option” than they would have been if Obama hadn’t so obviously sold out on financial issues.

(ARTICLE CONTINUES BELOW)

“There’s a Growing Sense Among Progressives [and Conservatives] That They Have Been Punked” 150709banner2

Krugman’s reference to Frank Rich, of course, refers to Rich’s essay “Is Obama Punking Us?”, where Rich writes:

Yet there is real reason for longer-term worry in the form of a persistent, anecdotal drift toward disillusionment among some of the president’s supporters. And not merely those on the left. This concern was perhaps best articulated by an Obama voter, a real estate agent in Virginia, featured on the front page of The Washington Post last week . “Nothing’s changed for the common guy,” she said. “I feel like I’ve been punked.” She cited in particular the billions of dollars in bailouts given to banks that still “act like they’re broke.”

But this mood isn’t just about the banks, Public Enemy No. 1. What the Great Recession has crystallized is a larger syndrome that Obama tapped into during the campaign. It’s the sinking sensation that the American game is rigged — that, as the president typically put it a month after his inauguration, the system is in hock to “the interests of powerful lobbyists or the wealthiest few” who have “run Washington far too long.” He promised to smite them…

What disturbs Americans of all ideological persuasions is the fear that almost everything, not just government, is fixed or manipulated by some powerful hidden hand, from commercial transactions as trivial as the sales of prime concert tickets to cultural forces as pervasive as the news media. It’s a cynicism confirmed almost daily by events … legitimate suspicions on the right and left alike that even their loudest public voices can be silenced if the business interests of the real American elite decree it…

[Obama's] first questionable post-victory step was to assemble an old boys’ club of Robert Rubin protégés and Goldman-Citi alumni as the White House economic team, including a Treasury secretary, Timothy Geithner, who failed in his watchdog role at the New York Fed as Wall Street’s latest bubble first inflated and then burst. The questions about Geithner’s role in adjudicating the subsequent bailouts aren’t going away, and neither is the angry public sense that the fix is still in. We just learned that nine of those bailed-out banks — which in total received $175 billion of taxpayers’ money, but as yet have repaid only $50 billion — are awarding a total of $32.6 billion in bonuses for 2009…

The larger fear is that Obama might be just another corporatist, punking voters much as the Republicans do when they claim to be all for the common guy. If anything, the most unexpected — and challenging — event that could rock the White House this August would be if the opposition actually woke up.

So it is not just progressives that feel like they’ve been punked by Obama. Remember that many conservatives, mainstream Democrats, and libertarians voted for Obama as well. Conservatives, libertarians, liberals, progressives all feel like they’ve been punked. It is not a partisan issue.

Indeed, the only people who don’t think they’ve been punked are:

1. The banksters, derivatives traders and others who have directly benefited from the bailouts and maintaining the broken financial system the way it is without any true reform

and

2. Those who believe the propaganda of group number 1.

http://www.nytimes.com/2009/08/21/opinion/21krugman.html?_r=1

http://www.nytimes.com/2009/08/09/opinion/09rich.html?partner=rss&emc=rss

http://www.washingtonsblog.com/2009/08/real-war-is-not-between-left-and-right.html

http://georgewashington2.blogspot.com/

KC Dan
08-21-2009, 08:56 PM
"We just learned that nine of those bailed-out banks — which in total received $175 billion of taxpayers’ money, but as yet have repaid only $50 billion — are awarding a total of $32.6 billion in bonuses for 2009"


Why is this not plastered on every tv or cable tv news show if true? They are awarding almost as much money as they have returned?

KILLER_CLOWN
08-21-2009, 10:26 PM
"We just learned that nine of those bailed-out banks — which in total received $175 billion of taxpayers’ money, but as yet have repaid only $50 billion — are awarding a total of $32.6 billion in bonuses for 2009"


Why is this not plastered on every tv or cable tv news show if true? They are awarding almost as much money as they have returned?

http://www.nytimes.com/2009/08/09/opinion/09rich.html?adxnnl=1&partner=rss&emc=rss&adxnnlx=1250914967-ToAsEL/Mo+S3+MY4mjJC5g

3rd paragraph from the bottom.

KC Dan
08-21-2009, 10:34 PM
http://www.nytimes.com/2009/08/09/opinion/09rich.html?adxnnl=1&partner=rss&emc=rss&adxnnlx=1250914967-ToAsEL/Mo+S3+MY4mjJC5g

3rd paragraph from the bottom.An op-ed??? This should be on the front page. I bet that ACORN are in their vans and buses on the way to the bankers homes, right? nope, won't happen when the MSM is in the pocket of this admin and congress. Nice to see Rich writing about it though.

KILLER_CLOWN
08-21-2009, 10:37 PM
An op-ed??? This should be on the front page. I bet that ACORN are in their vans and buses on the way to the bankers homes, right? nope, won't happen when the MSM is in the pocket of this admin and congress. Nice to see Rich writing about it though.

Everyone is far too worried about universal death care to pay attention to any of that, even if the bill gets shot down(which it should without question) at least many won't pay attention to the man behind the curtain.

***SPRAYER
08-22-2009, 09:35 AM
But this mood isn’t just about the banks, Public Enemy No. 1. What the Great Recession has crystallized is a larger syndrome that Obama tapped into during the campaign. It’s the sinking sensation that the American game is rigged — that, as the president typically put it a month after his inauguration, the system is in hock to “the interests of powerful lobbyists or the wealthiest few” who have “run Washington far too long.” He promised to smite them…

B.O. is, was and always will be a greasy, slimy piece of shit that came out of the ass of the Daly Chicago machine. The only election that wasn't rigged was against Bobby Rush, who destroyed him. Since then, he's either had his opponents disqualified or personally destroyed by having his lawyers unseal divorce records. Then one year ago, the media handpicked him, and his opponent who they knew would lose in the presidential election.

If you bought into all the hype, then yes, you've been had.

Orange, kOZ and Banyon will hold out until the end, but most of the people that voted for this scumbag were not left wing mouth-foamers, they were by and large people who had GW Bush fatigue and were fed up with the republitards in general, so they figured what harm could come from voting for the "moderate" democrap? And besides, it would be so historic! We could have our very first Mulatto president!

:drool:

HonestChieffan
08-22-2009, 09:47 AM
Krug has fallen to using some anecdotal bs to base his weak positions on.

Like Paul, buddy, Conservatives dont talk to you, you dont know a Iowa farmer, and have no idea what goes on outside your little group of obots. Dont base your conclusions on fellow kooks ideas.