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(New York Magazine)   Obama's Original Sin, or why nothing has changed since 2008 and nobody has gone to jail for it   (nymag.com) divider line 79
    More: Interesting, obama, Brian Moynihan, library classification, Gilded Age, Blackstone Group, New York Public Library, Jonathan Franzen, Andrew Carnegie  
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3812 clicks; posted to Politics » on 05 Jul 2011 at 11:11 AM (3 years ago)   |  Favorite    |   share:  Share on Twitter share via Email Share on Facebook   more»



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2011-07-05 09:01:20 AM
The monied interests have always been in charge, and always will be. Wail and gnash your teeth all you want, but that is the way of the world.
 
2011-07-05 09:04:28 AM
I was waiting for him to get to a point somewhere on the first page, but he never did.
 
2011-07-05 09:22:28 AM
obama is a right-of-center corporatist. only in america is he considered "liberal" by an opposition party that is so far out on the right-wing fringe that it is in danger of being classified a hate group by the southern poverty law center.

ok, i made that last part up, but the modern GOP is pretty far right by all reasonable standards.
 
2011-07-05 09:23:41 AM

FlashHarry: obama is a right-of-center corporatist. only in america is he considered "liberal" by an opposition party that is so far out on the right-wing fringe that it is in danger of being classified a hate group by the southern poverty law center.

ok, i made that last part up, but the modern GOP is pretty far right by all reasonable standards.


I dunno, they really can be a hate group.
 
2011-07-05 09:25:32 AM
It's almost like his top donors list included Goldman Sachs, Citigroup Inc, and JPMorgan Chase & Co.
 
2011-07-05 09:25:46 AM

Alphax: I was waiting for him to get to a point somewhere on the first page, but he never did.


Yeah, you're not kidding. I'm in this to figure out what the hell the headline is talking about, not read a book.
 
2011-07-05 09:31:32 AM
Turns out the "community" he was best at organizing was the banking community.
 
2011-07-05 09:31:50 AM

Alphax: I was waiting for him to get to a point somewhere on the first page, but he never did.


Ya, his lamentations and teeth-gnashing never really did materialize into an actual point, just the supposition that I made that he's mad about the whole lack of going after anyone who wasn't a politician who was involved in that mess. (And yes, the reason most of this has gone unpunished is because politicians looking the other way were part of the triangle of money-problem-starting.)
 
2011-07-05 09:39:02 AM

Generation_D: Turns out the "community" he was best at organizing was the banking community.


that's gonna be tough to square with the "socialist!!!" label.
 
2011-07-05 10:13:47 AM

FlashHarry: that's gonna be tough to square with the "socialist!!!" label.


Who's doing any squaring? He is whatever bad thing that occurs to them at that moment. Triumph of the subjective.
 
2011-07-05 10:46:03 AM
Jesus, I'm sick of this. He's gone, he graduated, he's in the pros now. Yes maybe Auburn will have to forfeit those wins, but camp starts in less than month, let's move on, it's in the NCAA's hands now.
 
2011-07-05 10:47:41 AM
Go ahead and disregard my previous statement.
 
2011-07-05 11:14:50 AM
Dammit, we the people deserve blood running through our streets! Our vengeance must manifest itself, our blood lust satiated. Only then will our Lord be satisfied!
 
2011-07-05 11:15:37 AM
Isn't it a bit early to be priming the "Nothing's Changed" pump for 2012?
 
2011-07-05 11:16:21 AM
The president's failure to demand a reckoning from the moneyed interests who brought the economy down has cursed his first term, and could prevent a second.

All you need is that subtitle.
 
2011-07-05 11:16:36 AM
Well the stock market has gone up so that is a plus.
 
2011-07-05 11:18:23 AM

mitchcumstein1: Jesus, I'm sick of this. He's gone, he graduated, he's in the pros now. Yes maybe Auburn will have to forfeit those wins, but camp starts in less than month, let's move on, it's in the NCAA's hands now.



Pretty much this.
 
2011-07-05 11:18:42 AM
What would be the point? They purchased congress a while back and can always count on their boys to make these things go away. The president would have stuck his neck out for nothing.

The wealthy won about a decade ago, we'll need another actual depression to get motivated to change that. Soup lines and shiat.
 
2011-07-05 11:18:53 AM
One can't prosecute those who haven't broken the law. As much as it may gall, most of the bankers who 'should' be laid low did nothing illegal.

And I'm sure an author for the New Yorker is aware that the means to correct that glaring oversight falls primarily upon the legislature, not the executive.
 
2011-07-05 11:19:20 AM
It's all a bit silly. Don't recall it being the president's job to take people to court, and frankly I'd say a lot of the blame rests with congress for their failure to do anything right, let alone anything at all.
 
2011-07-05 11:19:27 AM

Lost Thought 00: Dammit, we the people deserve blood running through our streets! Our vengeance must manifest itself, our blood lust satiated. Only then will our Lord be satisfied!


BLOOD FOR THE BLOOD GOD
 
2011-07-05 11:27:11 AM

mitchcumstein1: Jesus, I'm sick of this. He's gone, he graduated, he's in the pros now. Yes maybe Auburn will have to forfeit those wins, but camp starts in less than month, let's move on, it's in the NCAA's hands now.


Can I get a Hallelujah?
 
2011-07-05 11:29:59 AM

HotWingConspiracy: What would be the point? They purchased congress a while back and can always count on their boys to make these things go away. The president would have stuck his neck out for nothing.

The wealthy won about a decade ago, we'll need another actual depression to get motivated to change that. Soup lines and shiat.


Surprisingly we are a much more financially diversified nation than we were in the 30s. There won't be another soup line depression unless its due to war or famine, etc.
 
2011-07-05 11:32:31 AM
Obama: He's a corporatist AND a socialist.

Just like he's an empty suit AND an ideologue.

Just like he's a do-nothing president AND he's doing too much (and I want my country back!).

Just like he's the second coming of Jimmy Carter AND a mobbed-up Chicago machine pol.

Just like he's an effete, elitist academic AND a scary, militant black mooslim.

He is every bogeyman that has ever existed AND its exact, polar opposite.

Always, and forever.
 
2011-07-05 11:40:53 AM
I really wish the lamestream media would stop FAWNING over Obamessiah like this.
 
2011-07-05 11:41:31 AM
In order to actually get these guys for anything there would need to be a total overhaul in the way corporate malfeasance is tried in courts. This is really not something the executive does. This is more a congress thing. You know, the branch that actually has the power in America, a fact that we keep forgetting.

Additionally, it is sadly difficulty to make greedy + stupid a crime, since its the basis of our economy. I would personally love to nut hammer many of these sperm turtles, but legally, it is a fine line between punishing the really bad actors and jailing people who took risks that at the time seemed reasonable.
 
2011-07-05 11:41:34 AM

Alphax: I was waiting for him to get to a point somewhere on the first page, but he never did.


Load of derp so large, even the Gray Lady can't swallow it.

Guess there's no closeted Republican reporters for him to out this year.. Pity. MMFA is so 2004.

Sybarite: It's almost like his top donors list included Goldman Sachs, Citigroup Inc, and JPMorgan Chase & Co.


Unpossible. It's only GE Capital and GMAC that were the problems, amirite?

Cluestick time: putting people in prison isn't going to fix the previous two administrations' mistakes that created the problems. Dodd-Frank hasn't, and won't fix anything.
 
2011-07-05 11:45:46 AM
It's pretty much fact proven by who we get for serious candidates that the moneyed interests are not going to let anyone get in there that will muddy the waters (meaning their control and power and money) by making too many chances. Unfortunately, they made a mistake about the intelligence of George W. Bush and it almost ate theirs and everyone's lunch. The ones who suffered are the ones that lost their homes, their cars, their jobs. Nothing will ever change until we quit letting these power brokers giving us the candidates they want us to chose from.

Obama will be reelected, possibly in a landslide. The only ones that the power brokers would even accept are Huntsman and Romeny. They don't stand a chance.
 
2011-07-05 11:46:12 AM

Epoch_Zero: BLOOD FOR THE BLOOD GOD


SKULLS FOR THE SKULL THRONE
 
2011-07-05 11:47:31 AM
So vote Republican?
 
2011-07-05 11:49:34 AM

Teiritzamna: In order to actually get these guys for anything there would need to be a total overhaul in the way corporate malfeasance is tried in courts. This is really not something the executive does. This is more a congress thing. You know, the branch that actually has the power in America, a fact that we keep forgetting.

Additionally, it is sadly difficulty to make greedy + stupid a crime, since its the basis of our economy. I would personally love to nut hammer many of these sperm turtles, but legally, it is a fine line between punishing the really bad actors and jailing people who took risks that at the time seemed reasonable.


What a sperm turtle may look like.
3.bp.blogspot.com
 
2011-07-05 11:50:19 AM

ArtosRC: Epoch_Zero: BLOOD FOR THE BLOOD GOD

SKULLS FOR THE SKULL THRONE


I'm not voting for Khorne after this.
 
2011-07-05 11:53:58 AM
America is wholly owned by corporations.
Our leftmost politicians Sanders, Kucinich, Wyden are the normal right wing politician in every other first world nation.
Our Dems are a right wing conservative authoritarian party.
Our Reps are a far right fascist party.

This isn't a "both sides are bad" (vote for whoever you want to, I still view the conservatives miles above the fascist party because at least they would leave the country intact) but as skewed as our politics are, it'll be a long time before we get anywhere close to as free or competent as every other first world nation, if we don't devolve into a third world one.
Also, in America's past the wealthy who abused the country and the unethical and immoral politicians were never handled. There never was a "land of the free" we just spouted hypocritical bullshiat from day one, and try to live closer to that image every day. Other countries are still better at living up to it, but maybe we can catch up and live up to our self-image.
 
2011-07-05 11:57:02 AM

Epoch_Zero: Lost Thought 00: Dammit, we the people deserve blood running through our streets! Our vengeance must manifest itself, our blood lust satiated. Only then will our Lord be satisfied!

BLOOD FOR THE BLOOD GOD


Silly stupid Chaos beast the blood of the sheep is for sucking not spilling.

//I am nights dark master.
 
2011-07-05 12:00:38 PM

FlashHarry: but the modern GOP is pretty out right by all reasonable standards


FTFY.

They are redefining what it means to be far right in the same way Obama is redefining what it means to be far left.
 
2011-07-05 12:01:20 PM

s2s2s2: FlashHarry: but the modern GOP is pretty far out by all reasonable standards

FTFm.

They are redefining what it means to be far right in the same way Obama is redefining what it means to be far left.


/oops
 
2011-07-05 12:04:46 PM
I honestly don't get all the hate for Geithner. I read a transcript of a speech he gave a while back (can't remember where, unfortunately) - he came across as level-headed, sensible and most importantly, quite aware of the causes of the financial crisis and the need for better regulation and so on. Sure, maybe he's too economically conservative for the author (and perhaps too liberal for others), but I'm not sure what the author expects Obama to do here. Should he fire the guy as part of some random, indiscriminate symbolic campaign against "moneyed interests"?
 
2011-07-05 12:04:56 PM

s2s2s2: FlashHarry: but the modern GOP is pretty out right by all reasonable standards

FTFY.

They are redefining what it means to be far right in the same way Obama is redefining what it means to be far left.


No then it's be a simple "swap sides" transition, which happens about every 25 or so years. This is more sinister, the left is swapping, and the right is going even further into the wing
 
2011-07-05 12:05:43 PM

ACallForPeace: America is wholly owned by corporations.
Our leftmost politicians Sanders, Kucinich, Wyden are the normal right wing politician in every other first world nation.
Our Dems are a right wing conservative authoritarian party.
Our Reps are a far right fascist party.

This isn't a "both sides are bad" (vote for whoever you want to, I still view the conservatives miles above the fascist party because at least they would leave the country intact) but as skewed as our politics are, it'll be a long time before we get anywhere close to as free or competent as every other first world nation, if we don't devolve into a third world one.
Also, in America's past the wealthy who abused the country and the unethical and immoral politicians were never handled. There never was a "land of the free" we just spouted hypocritical bullshiat from day one, and try to live closer to that image every day. Other countries are still better at living up to it, but maybe we can catch up and live up to our self-image.


Totally agree.
 
2011-07-05 12:09:23 PM
I'm so disappointed. It turns out that a politician is a politician.
 
2011-07-05 12:24:19 PM

Epoch_Zero: Lost Thought 00: Dammit, we the people deserve blood running through our streets! Our vengeance must manifest itself, our blood lust satiated. Only then will our Lord be satisfied!

BLOOD FOR THE BLOOD GOD


If you are talking democrat its 'SAND FOR THE SAND FILLED VAGINA'.
 
2011-07-05 12:49:38 PM
Taibbi did a much better job.

Nobody goes to jail. This is the mantra of the financial-crisis era, one that saw virtually every major bank and financial company on Wall Street embroiled in obscene criminal scandals that impoverished millions and collectively destroyed trillions of dollars of the world's wealth - and nobody went to jail.

Instead, federal regulators and prosecutors have let the banks and finance companies that tried to burn the world economy to the ground get off with carefully orchestrated settlements - whitewash jobs that involve the firms paying pathetically small fines without even being required to admit wrongdoing. To add insult to injury, the people who actually committed the crimes almost never pay the fines themselves; banks caught defrauding their shareholders often use shareholder money to foot the tab of justice.

To understand the significance of this, one has to think carefully about the efficacy of fines as a punishment for a defendant pool that includes the richest people on earth - people who simply get their companies to pay their fines for them.

Conversely, one has to consider the powerful deterrent to further wrongdoing that the state is missing by not introducing this particular class of people to the experience of incarceration. "You put Lloyd Blankfein in pound-me-in-the-ass prison for one six-month term, and all this bullshiat would stop, all over Wall Street," says a former congressional aide. "That's all it would take. Just once."

But that hasn't happened. Because the entire system set up to monitor and regulate Wall Street is farked up.
 
2011-07-05 12:56:18 PM

BullBearMS: Taibbi did a much better job.

Nobody goes to jail. This is the mantra of the financial-crisis era, one that saw virtually every major bank and financial company on Wall Street embroiled in obscene criminal scandals that impoverished millions and collectively destroyed trillions of dollars of the world's wealth - and nobody went to jail.

Instead, federal regulators and prosecutors have let the banks and finance companies that tried to burn the world economy to the ground get off with carefully orchestrated settlements - whitewash jobs that involve the firms paying pathetically small fines without even being required to admit wrongdoing. To add insult to injury, the people who actually committed the crimes almost never pay the fines themselves; banks caught defrauding their shareholders often use shareholder money to foot the tab of justice.

To understand the significance of this, one has to think carefully about the efficacy of fines as a punishment for a defendant pool that includes the richest people on earth - people who simply get their companies to pay their fines for them.

Conversely, one has to consider the powerful deterrent to further wrongdoing that the state is missing by not introducing this particular class of people to the experience of incarceration. "You put Lloyd Blankfein in pound-me-in-the-ass prison for one six-month term, and all this bullshiat would stop, all over Wall Street," says a former congressional aide. "That's all it would take. Just once."

But that hasn't happened. Because the entire system set up to monitor and regulate Wall Street is farked up.


Yes, he did. Obama's great failure is that he didn't send some rats to prison. Most of the rest of the complaints are bullshiat, IMO. But that's a pretty big one.
 
2011-07-05 01:18:32 PM

bartink: Yes, he did. Obama's great failure is that he didn't send some rats to prison. Most of the rest of the complaints are bullshiat, IMO. But that's a pretty big one.


Were any laws broken, though? If what was done was legal (at least at the time), then you can't really send anyone to prison without running into that whole ex post facto issue.
 
2011-07-05 01:22:00 PM

BullBearMS: Taibbi did a much better job.


And yet, he did a terrible job of outlining what laws, regulations, statutes, etc were actually violated.

You'd make more sense in pushing for severe regulatory bills for wall street rather than complaining that the POTUS is unable to prosecute.
 
2011-07-05 01:22:14 PM
That's it. I'm voting Republican.

/Not really.
 
2011-07-05 01:30:43 PM

FlashHarry: obama is a right-of-center corporatist. only in america is he considered "liberal" by an opposition party that is so far out on the right-wing fringe that it is in danger of being classified a hate group by the southern poverty law center.

ok, i made that last part up, but the modern GOP is pretty far right by all reasonable standards.


This sort of statement makes me roll my eyes. Who says you can't be a leftist and still be beholden to corporate interests? Who says you have to be beholden to corporate interests if you're a conservative? It has nothing to do with political ideology and everything to do with political integrity.
 
2011-07-05 01:35:13 PM

Cinaed: BullBearMS: Taibbi did a much better job.

And yet, he did a terrible job of outlining what laws, regulations, statutes, etc were actually violated.

You'd make more sense in pushing for severe regulatory bills for wall street rather than complaining that the POTUS is unable to prosecute.


If you want a real vacation, you can argue the Theory of Evolution with Bevets.
 
2011-07-05 01:36:22 PM

VoteOrDie: Epoch_Zero: Lost Thought 00: Dammit, we the people deserve blood running through our streets! Our vengeance must manifest itself, our blood lust satiated. Only then will our Lord be satisfied!

BLOOD FOR THE BLOOD GOD

If you are talking democrat its 'SAND FOR THE SAND FILLED VAGINA'.


OK now that was pretty damn funny right there.
 
2011-07-05 02:13:24 PM
It's actually a fairly good article that criticizes the President on several points I agree with. The financial reform has been completely stalled or nonexistent, the stimulus that should have had more public works programs and less tax cuts, and not being aggressive enough with his platform of policies that favor the middle class when going against the Republicans.

It's true the administration has caught few breaks and the headwinds have been strong, but voters have long since tuned out this monotonous apologia. The White House's repeated argument that the stimulus saved as many as 3 million jobs, accurate though it may be, is another nonstarter when 14 million Americans are looking for work.

i don't know how Congress is supposed to pass any jobs bills when all the Republicans are doing is throwing out proposed legislation on abortion, rape and killing Medicare when they aren't busy blocking appointments or filibustering.
 
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