He’s ran, he won, he did the job, he’s gone. Are you policing the conduct of all the former presidents or just the black one?
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He’s not a Republican–he’d have to be racist too. He’s a centrist as are many Americans
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Where you asleep for 8 years while the Republicans dragged him and the “public” rewarded them by giving them majorities? This is magical thinking.
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I am not buying that for a single second. First off, I don’t think of it as ‘corruption’ unless they paid $400,000 for a speech of a sitting Senator or President. Secondly, you are stretching to say ‘people’ see it on one side and not the other. That is just lazy hyperbole.
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@kenzydad it’s sad that white people will vote for their biases instead of leveraging their power.
President Obama was not a dictator. He is someone who respected the checks and balances process. Ours is a parliamentary system that gives the minority party lots of procedural power to block the majority.
Unlike his successor President Obama was careful not to get ahead of himself and announce grand policies until he knew he had the votes to get them through (that included red state Dems in the House who were most likely to break with him and filibustering Senators).
Some of the things you BELIVE could have passed might not even have been close.
And because of his caution, he did not have to face what trump is facing–the public humiliation of repeated failure at the hands of his own party.
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Total nonsense.
Totally agree. Obama HAD the chance of a decade to restore Glass-Steagall and to break up the monopoly banks and insurance companies…and he blew it! Right out of the gate, like a good Clinton Democrat, he rejected te need for Glass-Steagall. He also totally failed to fix our financial system when the nation wanted and would support fix…we are all felling a great deal of pain from the Derivatives and CDO casino gambling collapse. So what does spineless Obama do…not much, he didn’t even prosecute and throw the crooked bank CEO’s in jail.
Now the US is basically back to where we were just before the George Bush Financial collapse, and Trump will remove what regulations came in un Dodd-Frank and recreating the high risk casino days of that followed the 1999 Banking Modernization Act that basically rubber stamped the bank monopolies and allowed insurance companies to gamble and LOSE…so they recover those losses by increasing the premiums on all their insurance instruments and especially health insurance.
Trump is here because Obama was such a weak leader…gives a great speech but that was it. Obama’s legacy will not be a positive one…because the middle class and working poor never recovered after the Bush collapse thanks to Obama’s pro-bank and pro-corporate actions. Trump won’t deliver for the middle class or workers…we can see that now…he’s hugging the trickle down lies (Reaganomics) and if there’s anything that we’ve learned it is that billionaires do not create jobs. Monopolies do not create jobs…in fact they have killed millions of good American jobs.
We are so screwed…thanks in large part to the Clinton’s and Obama making the Democratic much more lke the Republicans…chasing the same pots of gold created in large part by Citizens United.
Obama - please go away and disappear…along with the Clinton’s.
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Some sqwaking nonsense. You keep repeating your same dumbfuck (and wrong) assertions and opinion as if they are factual and true. They are neither. But as I said previously, your troll schtick, a rehash of the same paid troll bloviation from 2016 is nothing if not comical.
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Feel free to rationalize Obama’s poor judgment.
What a crock. Glass-Stegall did nothing about derivatives and AIG et al where not even banks.
The only salient aspect of GS being removed that was relevant was it was the rekoval of the firewall between investment and deposit taking gaming which put a domino collapse risk in place once the meltdown got under way, but it did not cause the meltdown.
That said, restoring GS would not substantively do much that Dodd-Frank doesn’t guard against (cascading collapse if in trouble banks or finically institutions).
There needs to be more done beyond Dodd-Frank, regulating the “shadow banking” system of derivatives which is something H Clinton ran on and which Sanders and Warren are noticeable silent on (particularly the former who I doubt even has a clue about the issue).
You seems to have a tissue thin grasp of the issue and simply parrot faux-progressive meaningless buzzwords so you can feel you are being “progressive” by trying to posture that you are the arbiter of who is “corrupt” and in the thrall of “the banisters” or not.
Again I find the irony that Warren, who is a Senator only because of President Obama, is somehow a corrupt sellout beyond laughable.
And those in those trolling this thread vomiting up such nonsense only expose themselves and the mindless fake “progressive” twits that they are.
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Feel free to vomit up your repetitive and worthless opinion and factless blather over… and over… and over…
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Feel free to get flagged, child.
Good luck with that.
Too many are rationalizing Obama’s poor judgment. He has his blind spots for sure, like the time he signed legislation to permit guns into our national parks for the first time in our history.
Thanks.
Not forgetting , Donny takes in $200,000 per guest at Mar-a-Lago . And he*s Mr President !
But see, the examples of the S&L fraudsters didn’t convince the banksters to behave themselves. It convinced them to make sure that they had lawyers passing on opinions that what they were doing was legal(ish) which negated mens rea, at least as to anyone who was important.
There weren’t zero criminal referrals. There were two. They found the two guiltiest most obviously legally transgressing guys they could, although their badness was only peripheral to the larger badness, and couldn’t get dumbass jurors to convict them because of reasonable doubt. They spent months, and huge resources, preparing those cases and still lost. And those two failures convinced them that a string of failures on the criminal side was going to end up emboldening them to force them to try out the civil cases rather than settle.
The classic example is the so-called “Magnetar Play.” In 2005, right at the time the housing boom seemed to be petering out and an ordinary recession loomed as the CDO biz became a bit worrisome to investors, a bunch of hedge fund geniuses calling themselves “Magnetar Capital” came in with a bunch of money and started setting up new CDO’s. They were buying the worst tranche themselves and selling the “good” ones. And people couldn’t figure out what was going on. And then they realized: Magnetar was setting up CDO’s stuffed with especially dodgy mortgages, making them look attractive by buying the worst part of the risk themselves and then “hedging” by taking out default swaps on the middle tranches. But the key was that if the middle tranches didn’t get paid, triggering the default swap, Magnetar made more money than it lost on its investment in the bottom tranche. A lot more.
There was substantial evidence that Magnetar executives put direct pressure on the company setting up the CDO’s to stuff them with high risk mortgages. There was, in other words, substantial evidence that the Magnetar CDO’s were designed to fail, designed to screw all the investors who bought the other tranches and the fools who insured them with default swaps.
And the problem was the argument that “look, it was perfectly legal for us to take out a default swap on someone else’s risk and we did it to hedge the risk we took by buying the riskiest tranche because no one would ever give us a default swap on that risk. And lookit, no regulatory agency said we couldn’t!” And that’s reasonable doubt. It may not pass the civil liability standard, but good look getting a conviction that stands up on appeal on a criminal charge.
Looked at another way, the problem was that the there was a lot of stuff that should have been illegal that wasn’t, and that the regulatory agencies were greenlighting partly because Bush had stuffed the agencies with Greenspan worshipping Invisible Hand true believers with an eye on the revolving door.
There’s a reason you can’t take out a life insurance policy on a total stranger with whom you have no familial or economic relationship. (“Insurable interest” is the legal term.) There should have been a requirement that you could only take out a default swap on risk you actually owned, not someone else’s risk. There wasn’t. Because free market risk management invisible hand argle bargle blargh.
The stuff that came out the other end? The robo-signing and failure to preserve originals behind most of the “document fraud?” The panic-driven foreclosures on people who thought they had a workout with the lender because the mortgage wasn’t actually owned by the lender? Mostly state law problems and lots and lots of, to coin a phrase, buffers between the made men and the boss of bosses.
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No, of course not. Now you’re just being silly. Obama has taken a lot of undeserved abuse during his terms, he knew he would, and he took it without complaint. It WAS a hard job - the hardest job imaginable, given the makeup of Congress, the trashed economy and the mood of the nation.
He served his country as best he could. I believe he’s sincere and will continue to work for Americans. He certainly deserves to earn what he’s worth in the marketplace (just looking at it in purely commercial terms) but something tells me that with a $65M book advance, he’s not grubbing for money. I bet he’s got a lot to say to bankers, and not pleasant things, either.
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You are so much like a Trump. Thin skinned and juveniles and might I ad a whiner
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Trying to explain that to Darcy is like trying to explain how the Presidency is supposed to work to Trump
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