Obama’s bank regulation plan: A free pass for Wall Street by Barry Grey

Dandelion Salad

by Barry Grey
http://www.wsws.org
18 June 2009

President Barack Obama on Wednesday announced what he called “a sweeping overhaul of the financial regulatory system, a transformation on a scale not seen since the reforms that followed the Great Depression.”

The reality behind the rhetoric was indicated by the reaction on Wall Street. The stock market responded with a shrug, with the Dow and the S&P 500 finishing slightly down and the Nasdaq ending with a modest gain. Had there been anything in the proposals outlined by Obama that suggested a serious crackdown on the fraudulent practices that precipitated the present crisis, one can be certain the market would have reacted with a massive selloff.

The insiders knew they had nothing to fear. The plan Obama presented was in all essentials formulated by Wall Street lobbyists and CEOs.

[…]

via Obama’s bank regulation plan: A free pass for Wall Street

see

Gerald Celente: Washington is Wall St. and Wall St. is Washington

The American Empire Is Bankrupt by Chris Hedges

Definancialisation, Deglobalisation, Relocalisation by Dmitry Orlov

Obama calls for cuts in Medicare and Medicaid + The Idiot’s Guide To Paying For Health Care Reform

America Incorporated By Timothy V. Gatto

De-Dollarization: Dismantling America’s Financial-Military Empire by Prof. Michael Hudson

The Economy Sucks and or Collapse 2

2 thoughts on “Obama’s bank regulation plan: A free pass for Wall Street by Barry Grey

  1. Pingback: Financial Reform, Words and Deeds by Ralph Nader « Dandelion Salad

  2. Pingback: Instead of Real Financial Reform, Obama’s Plan capitulates to Wall Street by Prof. Michael Hudson « Dandelion Salad

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