Barack Obama: Corporate Welfare King

Published Apr 27 2009, 08:55 PM by Steven Stark

As Tom Edsall over at the Huffington Post aptly points out, one of the more absurd charges against the Obama administration comes from the right-wing, which accuses him of destroying American business. On the contrary, this president, unfortunately, is the biggest friend the banks and corporate America have ever had -- if giving them hundreds of billions counts for anything. And ti does.

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Otterlaw said:

What do former presidents Clinton, Bush and Obama have in common - they love big banks. - President Clinton preempted state bucket shop laws which turned credit default swaps into legalized gambling. President Bush looked the other way while financial institutions, brokers and insurance companies took this gambling to a new level. Now, President Obama is paying off those gambling losses once the Nation discovered the dice were loaded. Unfortunately for these entities, there is always a "chicken dinner" at the end of the day.

May 1, 2009 9:36 AM

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Barack Obama: Corporate Welfare King

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