Obama Joins Club of the Super-Rich – Defends Global Capitalism in Lecture

The Real News Network has a two part series starting off with the segment Obama Joins Club of the Super-Rich – Defends Global Capitalism in Lecture.

This segment and the one I will post next get frustratingly close to the point, but still manage to miss it. That point is that Obama did have a choice when he came into office, and he worked tirelessly to avoid that better choice. He had a golden opportunity to turn the situation around, and he purposely chose people for his administration that would obstruct that choice. He inherited peopple in the technocracy of goivernment who were begging him to do the right thing, and he pushed them out in favor of his chosen Wall Street types – Rubin, Summers, and Geithner did not have to be given control.

Here are two of the people who were pushed aside over the years Sheila Colleen Bair the 19th Chair of the U.S. Federal Deposit Insurance Corporation (FDIC), and Brooksley E. Born from August 26, 1996, to June 1, 1999, was chairperson of the Commodity Futures Trading Commission (CFTC), the federal agency which oversees the futures and commodity options markets.

The Warning: Brooksley Born’s Battle With Alan Greenspan, Robert Rubin And Larry Summers.

Here is the next segment Obama Says Inequality Led to Rise of the Right, but Takes No Responsibility for It (2/2).

They talk about how certain things are endemic to the system without mentioning agency of people who made it that way. The system didn’t become the way it is without active participation of people who made it be exactly what it has become.

The following may not be the perfect article to explain what the Obama administration could have done instead of what they did to “resolve” the financial crisis, but it was an article that I found easily – Sheila Bair on Helping Banks Fail

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