The Tea Party and Goldman Sachs: A Love Story

from truthdig:




The Tea Party and Goldman Sachs: A Love Story

Posted on Jul 5, 2011
By Robert Scheer


Face it. We live in two nations, sharply divided by an enormous economic chasm between the super-rich and everyone else. This should be an obvious fact of life for most Americans. Just read the story in Tuesday’s Wall Street Journal headlined “Profits Thrive in Weak Recovery.” Or the recent New York Times story pointing out “that the median pay for top executives at 200 big companies last year was $10.8 million,” a 23 percent gain over the year before.

In the midst of a jobless recovery, those same corporations are sitting on more than $2 trillion in reserves, refusing to invest in this country, as increasing percentages of their profits are garnered in tax-sheltered operations abroad. And the bankers who caused the economic meltdown have turned against President Barack Obama, who saved them; instead they favor a tea-party-dominated Republican Party that seeks to limit any restraint on corporate greed while destroying the ability of state and federal governments to bring some measure of relief to ordinary folk.

The whole point of the tea party is to focus concern over our stagnant economy on something called “big government” while ignoring the big corporations that have bought the government as an accessory to their marketing strategies. Big government is big precisely because it now exists primarily to make the world safe for multinational capitalism, whether through a bloated defense budget, trade pacts like the North American Free Trade Agreement, or monetary policies that serve the interests of the largest companies.

It was their lobbyists who got Congress to end sensible regulations of financial shenanigans, and now, with the new tea party members of Congress as their most stalwart allies, they are yanking the teeth from the very mild regulations that Obama got through the last Congress. As The Associated Press reported: “Congressional Republicans are greeting the one-year anniversary of President Barack Obama’s financial overhaul law by trying to weaken it, nibble by nibble.” ............(more)

The complete piece is at: http://www.truthdig.com/report/item/the_tea_party_and_goldman_sachs_a_love_story_20110705/

a $550 million Goldman fine from the Obama SEC?

My prediction? Obama will collect another $900k in Goldman contributions in 2012 mainly due to the fact NYers are liberals for the most part.

Huh?

contrast that to .... say Wal-Mart in Bentonville, Arkansas where conservatives are.

Go to Palo Alto, CA - liberals dominate.

Then look at Houston where Cons make up the bulk of voters. Is this new to you?

nt

"And the bankers who caused the economic meltdown have turned against President Barack Obama, who saved them; instead they favor a tea-party-dominated Republican Party"

I know its bandied about as common knowledge, but are there any good numbers to demonstrate any shift in attitude? I would actually think that they'd favor dems for helping the economy that we all depend on (rather than wrecking it like the other guys), but perhaps that isn't the case?