It's bad because the Democratic Party is supposed to stand for the people, and now the people don't have a party representing their interests. It's the Democratic Party representing big business while talking populist rhetoric about helping the messes, and then there is the Republican Party that represents big business while pandering to the crazies.
Some choice, but that's all we've got.
Sirota:
When Senate Democrats ratified Obama's nomination of New York Fed chief Tim Geithner as Treasury secretary, they rewarded yet another shill who also fell down on the regulatory job. When those same Senate Democrats considered the nomination of Gary Gensler to head the agency regulating derivatives, they could have rejected him for championing derivatives deregulation as a Clinton official and then cashing in as a Goldman Sachs executive. Instead, Democrats backed his nomination and effectively told every other Gary Gensler-like parasite that misguided actions and corruption don't prevent future promotion.
And let's be fair -- it's not just Democratic politicians who are creating political moral hazard. Many Democratic pundits, activists and voters continued cheering on President Obama while he stuffed his administration full of Wall Streeters -- and many of these rank-and-file voices attacked as disloyal those progressives who raised questions. That told Obama he faces few consequences -- and even defense -- from his own base for promoting those who engineered the economic meltdown.
Readers were warned on this blog about Obama's neoliberal tendencies.
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