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Obama isn't corrupt enough for Wall Street

Nipomo

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Letter writer Robert Parkhurst (“No more bailouts,” Oct. 20) makes a great case in support of the Occupy Wall Street movement—even if that wasn’t his intent.

“Vote the present administration out of office so they can’t bail out Bank of America ever again,” Parkhurst writes.

The bailout of the banks was, in fact, carried out under George W. Bush on Oct. 3, 2008. Why doesn’t Parkhurst know this? He’s not alone; 66 percent of Americans believe TARP was passed by Obama (Pew poll).

How could that be? It is because while Obama, who received more cash from Goldman Sachs than any other candidate in 2008, is corrupt, and hasn’t prosecuted anyone for Wall Street’s massive thefts, he simply isn’t corrupt enough for Wall Street. Obama passed tepid reforms that “left holes big enough to drive a Ferrari through” in the Wall Street Reform Act, but the law does contain some minor, symbolic regulation.

But Wall Street wants zero regulation. These companies have utter contempt for the rule of law, and for democracy itself. So they’ve cranked up the corporate news channels with endless propaganda designed to deceive, so that in 2012 they can replace Obama with someone even more corrupt. And it’s tremendously successful: In spite of the greatest transfer of wealth in the history of the world—from the middle class to the top 1 percent, with just four banks controlling the majority of residential property for the first time in history—they’ve managed to convince millions that any effort to enforce the rule of law, why, that’s pure Stalinism!

-- Sean Shealy - Los Osos

-- Sean Shealy - Arroyo Grande

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