Reply #28: How about that Wall Street Bailout?!!

[Octafish]

We must be reading different clocks. Here WSWS told us about what we've since seen come very, very true:

In address to Congress
Obama pledges bigger Wall Street bailout

By Patrick Martin
25 February 2009

In his first presidential address to a joint session of Congress, President Barack Obama defended the ongoing federal bailout of the banks and pledged that even greater sums would be funneled from the US Treasury to support Wall Street.

The nationally-televised speech Tuesday night had two main themes. Obama sought to defuse the enormous public hostility to the financial interests responsible for the deepening economic crisis, declaring that he could not "govern out of anger."

SNIP...

This invocation of dual authorship of the crisis, the government and the people, is deliberately crafted to exclude the most important social category: class. It was not the "people" who created the multi-trillion-dollar casino on Wall Street, who profited from hedge funds, CDOs, credit-default swaps and other speculative devices.

Working people had neither the resources nor the demented drive for personal wealth accumulation required to participate in the looting spree conducted by the American financial elite over the past three decades. Any account of the crisis that equates bankrupt billionaire financiers and foreclosed working class homeowners as equally "irresponsible" is a travesty.

CONTINUED...

http://www.wsws.org/articles/2009/feb2009/obam-f25.shtml

I don't always or even often agree with their politics getting between the lines, Hamden Rice, but I do think their reportage is honest. The reason: They tell the reader where they're coming from.

I wonder what their take is on national healthcare?