John Bolton

John Bolton

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Thursday, January 10, 2013

Obama Nominates Another Wall Street Insider for Treasury Secretary

Protecting rich Wall Street friends of Obama is more important than restoring the economy for 99% of Americans who aren't Wall Street fat cats!

Bad enough we've had four years of New York insider Tim Geithner as Secretary of the Treasury. Four years of protecting big banks and Wall Street firms ("too big to fail") and NOT ONE prosecution of Wall Street crooks. Contrast that with 1,300 prosecutions of Wall Street crooks during the Bush Administration. Someone should tell Vice President Biden who it is that really "unchained" Wall Street. I guess those contributions to Obama's campaign really do pay off!

So, when Obama nominated Jack Lew to take over for Geithner, he signaled it was business as usual. Lew is cut from the same cloth as Geithner with the same insider connections. And, he's one of the very rich who got a huge bonus with taxpayer bailout money following the financial meltdown in 2008. When Obama talks about millionaires and billionaires not paying their fair share in taxes he might as well include Lew.

The nomination of Lew is also another sign from Obama that he intends to continue with the hardball, divisive and partisan politics which are the hallmark of his first term. Republicans on Capitol Hill have little faith in Lew. In a recent statement Senator Sessions (R-AL) the top Republican on the Senate Budget Committee said Lew should "never" be confirmed for lying to the American people about Obama's budget plans. Lew claimed that Obama's 2012 budget plan was one where "we're not adding to the debt anymore; we're spending money that we have each year, and then we can work on bringing down our national debt." Sessions found that to be such a whopper "so outrageous and false that it alone disqualifies" Lew.

Frankly, I don't see why Lew's nomination should be such a big deal. The Obama Administration is already so full of crony-capitalists and people who can't add or understand numbers larger than 100 that another one won't make much difference. So what if 99% of Americans will be left out in the cold as long as Wall Street fat cats are happy!

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