Clinton has a lot to answer for because of the need to try and outfox the Republicans by trying to out-Republican them ("triangulating"), but it was a disaster for the country in the long-term.
There was NO excuse for the repeal of Glass-Steagall, for example. None. There is a reason those regulations are there, and it's not to "stifle" "free enterprise." It's to protect the country, its citizens, and its economy.
WSWS:
Though Clinton did not mention it, part of Obama’s efforts to maintain continuity with the Bush administration was his selection of Timothy Geithner as treasury secretary. Geithner, as president of the Federal Reserve Bank of New York, had worked closely with Bush’s treasury secretary, Henry Paulson, in overseeing the bank bailout.
Clinton himself had presided over an administration that was slavishly devoted to Wall Street. The manic speculation and soaring stock market of the 1990s were made possible by financial deregulation (including a ban on the regulation of derivatives and the repeal of the 1930s Glass-Steagall Act, moves that were promoted by Clinton’s top economic adviser, Robert Rubin, a former top executive at Goldman Sachs).
The orgy of speculation on Wall Street under Clinton (dubbed “irrational exuberance” by then-Fed Chairman Alan Greenspan) led to the bursting of the dot.com bubble in 2000 and the financial crash of 2008, which set off the greatest world economic crisis since the Great Depression.
I can't argue with facts.
However, Obama is vastly worse than Clinton or even Bush. He is far, far, far to the right of either of them. Just look at what he is doing to public education; he wants to abolish it in favor of a nationwide system of charter schools. This is the most outrageous, the most direct assault on democracy EVER by a U.S. president.
SOMEBODY had to have been behind the scenes to have promoted this fake Democrat from the beginning. I simply don't think it was entirely the Chicago machine or EVEN the Chicago machine.
No comments:
Post a Comment