HomeLatest ThreadsGreatest ThreadsForums & GroupsMy SubscriptionsMy Posts
DU Home » Latest Threads » Forums & Groups » Main » Good Reads (Forum) » Bill Black: Wall Street's...
Introducing Discussionist: A new forum by the creators of DU

Sun Nov 11, 2012, 09:07 AM

Bill Black: Wall Street's Plan to Push Obama to Betray Those Who Elected Him


Benzinga / By William K. Black

Wall Street's Plan to Push Obama to Betray Those Who Elected Him
Through its lobbying group Third Way and media mouthpieces, Wall Street is determined to destroy the social safety net.

November 8, 2012 |


The safety net is the glory of America and the unending nightmare of Wall Street. That why Wall Street’s leading “false flag” group, the Third Way (which calls itself a "leading moderate think tank"), has responded to the warnings that Robert Kuttner, AFL-CIO President Trumka, and I have made that if President Obama is re-elected our immediate task will be to prevent the Great Betrayal – the adoption of self-destructive austerity programs and the opening wedge of the effort to unravel the safety net (including Social Security, Medicare, and Medicaid).

Here's what you need to know about this plan to rob Americans of their future.

1. Both Democrats and Republican Oppose Cuts to the Safety Nets

Huge majorities of Americans oppose cuts in the safety nets: A majority of Republicans oppose such cuts and Democrats overwhelmingly oppose the cuts. The American people love the safety net because they know it is essential to a humane America. They know that it has transformed the nation. Before Social Security, older Americans were frequently reduced to poverty and dangerously inadequate health care that made the remainder of their lives dangerous and miserable.

The safety net does not cover only the elderly and the sick. My father, for example, died when I (the eldest of three children) was 19 and a sophomore at the University of Michigan. Even though in-state tuition was inexpensive in those days, I would have had to drop out of school. Survivors’ benefits allowed me to obtain a superb education and pay back the nation with service and decades of greater taxes because education increased y income. Food stamps and unemployment insurance frequently provide the temporary support that prevent tragedy and allow Americans to obtain useful education and jobs. The safety net has made America a nation we are proud of and a nation that makes it possible for Americans to recover from hard times and tragedy and to lead lives that are vastly more productive and enjoyable.

2. Only a Democrat Can Make It Politcally Safe for GOP Pols to Unravel the Net

One of the most important reasons that more Americans support the Democratic Party than the Republican Party is that the Democratic Party is viewed as the Party that created and guards the safety net. The elements of the safety net are the crown jewels of Democratic Party policy successes. .......................(more)

The complete piece is at: http://www.alternet.org/news-amp-politics/wall-streets-plan-push-obama-betray-those-who-elected-him



15 replies, 2166 views

Reply to this thread

Back to top Alert abuse

Always highlight: 10 newest replies | Replies posted after I mark a forum
Replies to this discussion thread
Arrow 15 replies Author Time Post
Reply Bill Black: Wall Street's Plan to Push Obama to Betray Those Who Elected Him (Original post)
marmar Nov 2012 OP
Chiquitita Nov 2012 #1
marmar Nov 2012 #2
Chiquitita Nov 2012 #3
Larkspur Nov 2012 #5
Chiquitita Nov 2012 #7
cprise Nov 2012 #8
Hotler Nov 2012 #12
peacebird Nov 2012 #4
jsr Nov 2012 #6
appacom Nov 2012 #9
cprise Nov 2012 #13
Sam1 Nov 2012 #14
kitt6 Nov 2012 #10
underthematrix Nov 2012 #11
Sam1 Nov 2012 #15

Response to marmar (Original post)

Sun Nov 11, 2012, 09:11 AM

1. Obama is not a corporate shill

I can't believe this kind of stuff is back. It feeds into people's paranoia.

Reply to this post

Back to top Alert abuse Link here Permalink


Response to Chiquitita (Reply #1)

Sun Nov 11, 2012, 09:12 AM

2. The article is just saying what Wall Street plans to do. Did you actually read it?

Reply to this post

Back to top Alert abuse Link here Permalink


Response to marmar (Reply #2)

Sun Nov 11, 2012, 09:14 AM

3. yes I did.

It insinuates that Wall Street can get the Pres. to betray us. The comments on the article are from people who to me seem as out of touch on our side as the wing nuts are on theirs. Sorry, just my view.

Reply to this post

Back to top Alert abuse Link here Permalink


Response to Chiquitita (Reply #3)

Sun Nov 11, 2012, 09:43 AM

5. Obama's comments about his Grand Bargain deal a year ago

sure sounded to me like he wanted to cut Soc. Sec. benefits by raising the retirement age. Ditto for Medicare.

If Obama tries to push his Grand Bargain austerity measures on us, many who voted for him will revolt, but if he gives up on that nonsense and rallies the American people to push back against Wall Street austerity marketeers and obstructionist Rethugs, then he will have a lot of support.

Reply to this post

Back to top Alert abuse Link here Permalink


Response to Larkspur (Reply #5)

Sun Nov 11, 2012, 09:55 AM

7. I don't support any cuts to soc sec or Medicare

But this article contains a big repetition of the obvious (ie what WS wants) witb some self importance on the part of the author. What's new here?

Reply to this post

Back to top Alert abuse Link here Permalink


Response to Chiquitita (Reply #3)

Sun Nov 11, 2012, 11:25 AM

8. They succeeded with the healthcare debate

...and got Obama to completely shut out advocates of the public option, talking only with health insurance companies (which you can read as "Wall St.") and cutting a deal with them. He went against his word as a candidate to serve the interest of finance.

Reply to this post

Back to top Alert abuse Link here Permalink


Response to Chiquitita (Reply #1)

Sun Nov 11, 2012, 07:44 PM

12. "Obama is not a corporate shill" oh really?????

let's see, When president Obama was running for the office of president he had some tough talk against the PTB, then after he got the nomination it was "Now is not the time to point fingers." which was code for "Nothing to see here, just move along". Than a year or so ago he was on Sixty Minutes and said something like, "what Wall St. did might have been immoral but, they didn't break the law." (which I call bullshit). he didn't even act tough towards the bankers. And don't forget he put up little to no fight for single payer health care. I voted for the man in both elections and I think he is a good person and gives one hell of a speech but, he is bought and paid for just like the ones in the past and the ones to come in the future until we can get a solid third party in the mix. I'm looking for a president that is not afraid to slam doors, throw chairs and tell repugs to go fuck themselves and throw crooks no matter how much money they have in jail.

Reply to this post

Back to top Alert abuse Link here Permalink


Response to marmar (Original post)

Sun Nov 11, 2012, 09:20 AM

4. It is up to us to provide the President enough support on these issues that he never feels "pushed"

Keeping up pressure in support of social safety net and against cuts to it, keeping up pressure in support of increasing taxes on the wealthy, and not on the middle class.

Letters to our reps in congress, to the White House, to the editor....

Reply to this post

Back to top Alert abuse Link here Permalink


Response to marmar (Original post)

Sun Nov 11, 2012, 09:53 AM

6. Important article.

Reply to this post

Back to top Alert abuse Link here Permalink


Response to marmar (Original post)

Sun Nov 11, 2012, 01:40 PM

9. Whoever thinks Obama will betray the people doesn't know Obama

Trust, remember? That's why Obama was re elected.

Reply to this post

Back to top Alert abuse Link here Permalink


Response to appacom (Reply #9)

Mon Nov 12, 2012, 03:36 AM

13. He granted immunity to Wall St. bankers.

He's a kinder, gentler corporate shill.

Reply to this post

Back to top Alert abuse Link here Permalink


Response to appacom (Reply #9)

Mon Nov 12, 2012, 08:08 AM

14. Or was it an overwhelming disgust with the other candidate?

Reply to this post

Back to top Alert abuse Link here Permalink


Response to marmar (Original post)

Sun Nov 11, 2012, 01:51 PM

10. 2014 should be the last threat

 

from republicans on the safety nets. First of all there are not many companies left. And if there are; 401K's are bulls*it compared to the old retirement systems. Americans simply will not go for it! President Obama needs to just raise taxes on the rich and be done with it!

Reply to this post

Back to top Alert abuse Link here Permalink


Response to marmar (Original post)

Sun Nov 11, 2012, 05:34 PM

11. hmmm . . . Wall Street

makes money when the 99% buy things

Reply to this post

Back to top Alert abuse Link here Permalink


Response to underthematrix (Reply #11)

Mon Nov 12, 2012, 08:09 AM

15. Don't you mean Main Street?

Reply to this post

Back to top Alert abuse Link here Permalink

Reply to this thread