Barack Obama's WRETCHED ECONOMIC TREACHERY: He put Bush's FAILED Wall St. economy-killing apparchiks, BEN BERNAKE and little economic hit-man Timmy Geithner, back in charge of his, Obama's, new, incoming Jan. 2009 economic team.
Starting at 13:00 minutes into the below video, PhD economist Dr. Michael Hudson explains how the U.S. Treasury and so-called 'Federal' Reserve are now engaging in PURELY PREDATORY finance, which is to say, ECONOMIC SABOTAGE and destruction.
In a nutshell, Dr. Hudson explains that banks NO LONGER LEND MONEY for NEW businesses or for business growth.... they ONLY lend money to BUY OUT EXISTING companies, using the value of the existing company or assets as COLLATERAL for the loan...
...This (the banker's interest-on-loans 'profits' for lending money to for only buy-outs, and not for new factories or economic growth) is essentially A HIDDEN TAX: the bankers have CREATED
NOTHING new, they have merely changed ownership hands of an existing
asset or company.... but they now claim NEW 'rents' (interest on loans) on
that company's profits or productive assets, though they have done NOTHING to
increase productivity or create NEW value.
Make no mistake:
MITT ROMNEY is a PREDATORY FINANCIER whose only claim to fame is being
part of this Wall St. PREDATORY TAKE OVER and PARASITIC FINANCE
So Obama's pushing these despised Robber Baron and Economic Hit Man policies, means that America has a ONE PARTY RULING GULAG this election year...
There were two main issues that then Senator Barack Obama campaigned on in 2008: providing America's "CHANGE" from the despised wars of Dick Cheney and George W. Bush that had by then, for example, "FAILED to find bin Laden" despite attacking not one, but at least TWO countries (Afghanistan and Iraq) for bin Laden's master-minding the 9-11 attacks; and in the long campaign season of 2007-2008, candidate Barack Obama PROMISED millions of American voters that he would provide "CHANGE!" from the DETESTED, economy-killing policies of George W. Bush economic team.
Thus is was a BETRAYAL of the first order, when Obama reached deep inside the Wall Street, Bob Rubin Neo-Con gene pool to select RAHM EMANUEL as his White House Chief of Staff, literally the day after Obama won the election in November 2008. Emanuel had been a sidekick of the Bob Rubin & Larry Summers "Of, by, and for Goddamn-Sachs and Wall St." economic policies - the "DEREGULATION" of Wall Street under Republican hired-hand front-men such as Phil Gramm, Jim Leach, Thomas Bliley, Dick Armey, Tom DeLay, and Enron Ken Lay (the first three the senators for whom the Gramm-Leach-Bliley 'deregulation' ATROCITY which allowed Sandy Weil and Bob Rubin to turn Citi-bank into a pure GAMBLING CASINO 'investment bank', "leveraging" the real money of people's retail, consumer savings, into the highly leveraged predatory pump-and-dump finance that was Goddamn-Sachs, KKR, and other speculative hedge-funds bread and butter.
Emanuel had CASHED IN on his position high up in the White House of "Democrat" Bill Clinton, Emanuel leaving the Clinton White House during the "Monica Impeachment" and going directly to Chicago LBO fund Wasserstein-Perella, where he was paid $13 million in just over 18 months for helping W-P grease the skids for leveraged buy outs that otherwise would have seen fierce 'Democrat" opposition (for looting pension funds and destroying jobs). Emanuel then doubled-down on his PROFITING from PREDATORY FINANCE, taking a job as a DIRECTOR of Freddie Mac... then, when the Freddie Mac scandal broke, Emanuel CLAIMED that he was totally IGNORANT that, in sweetheart-for-bankers deals, Freddie had paid the bankers 100-cents on the dollar for 'securities' and toxic loans that were worth only pennies on the dollar.
Obama selecting Wall Stet, Bob Rubin toady economic hit-man Rahm Emanuel to lead his incoming White House administration was only the prelude to Obama's ECONOMIC and campaign promise TREACHERY... for soon Obama, the man who had promised millions of American voters "CHANGE!" from Bush & Cheney's despised economy-killing policies, put in charge of his Economic Team, as Secretary of the Treasury, ANOTHER Bob Rubin & larry summers protege Wall Street HATCHET MAN, little Timmy Geithner; and soon Obama would double-down on his economy-killing treachery, by RE-APPOINTING the very Fed Chairman Bush had appointed,
the Fed Chairman who PRESIDED OVER the FINANCIAL CATASTROPHE and ECONOMIC CONTRACTION of September 2008's market meltdown....
Obama re-nominated BEN BERNANKE as Fed Chairman, giving us "MORE OF THE SAME" FAILED, PREDATORY, PARASITIC FINANCE that had KILLED the economy under Bush, Giethner, & Bernake (pushing Bob Rubin, Larry Summers, Phil Gramm, Dick Armey, and Enron Ken Lay's policies, et al) in the first place!!!!