Rollingstone article blasts Obama on Economics

MATT TAIBBI GIVES TIMELINE OF OBAMA’S FLIP-FLOP

by John Charlton

Matt Taibbi, never one known to mince words, can't deny Obama betrayed his supporters.
Matt Taibbi, never one known to mince words, can't deny Obama betrayed his supporters.

(Dec. 12, 2009) — Rollingstone magazine published on Wednesday a scathing exposé of Obama’s flip-flopping on his campaign promises, as regards the economy.  The article by Matt Taibbi, entitled “Obama’s Big Sellout,” bears the subtitle, “The president has packed his economic team with Wall Street insiders intent on turning the bailout into an all-out giveaway.”

Taibbi is a regular columnist at the Rollingstone Magazine, and had been a contributor for the Bill Maher’s, Real Time with Bill Maher.  He gained notoriety earlier this year for penning an critique of Goldman Sachs, in which he accused the financial investment firm of being involved in “”every major market manipulation since the Great Depression.”  Matt Taibi is the son of Mike Taibbi, the NBC television reporter. Taibi is a Russian-American.

His article on Obama’s flip-flopping on the Economy is remarkable.  Its appearance in Rollingstone magazine, shows that opposition to Obama’s policies is no longer a taboo topic among liberals.  You might classify Taibbi a far-left liberal, as even Hillary Clinton has had occasion to denounce his satirical piece on the death of Pope John Paul II, as being over the top.

But Taibbi on economics he is very much right of Obama. His piece on Obama will certainly raise eyebrows among progressives.  Obama’s maniacal policies are just too evident to deny anymore.

His scathing essay remarks at the beginning:

What inspired supporters who pushed him to his historic win was the sense that a genuine outsider was finally breaking into an exclusive club, that walls were being torn down, that things were, for lack of a better or more specific term, changing.

Then he got elected.

What’s taken place in the year since Obama won the presidency has turned out to be one of the most dramatic political about-faces in our history. Elected in the midst of a crushing economic crisis brought on by a decade of orgiastic deregulation and unchecked greed, Obama had a clear mandate to rein in Wall Street and remake the entire structure of the American economy. What he did instead was ship even his most marginally progressive campaign advisers off to various bureaucratic Siberias, while packing the key economic positions in his White House with the very people who caused the crisis in the first place. This new team of bubble-fattened ex-bankers and laissez-faire intellectuals then proceeded to sell us all out, instituting a massive, trickle-up bailout and systematically gutting regulatory reform from the inside.

He concludes his essay thus:

What’s most troubling is that we don’t know if Obama has changed, or if the influence of Wall Street is simply a fundamental and ineradicable element of our electoral system. What we do know is that Barack Obama pulled a bait-and-switch on us. If it were any other politician, we wouldn’t be surprised. Maybe it’s our fault, for thinking he was different.

The rest, is a must read.

One Response to "Rollingstone article blasts Obama on Economics"

  1. Pete   Saturday, December 26, 2009 at 1:02 PM

    “If it were any other politician, we wouldn’t be surprised. Maybe it’s our fault, for thinking he was different”

    Different?, Obama is the epitome of dirty pay to play politics and lies. Did you NOT look at his record, Did you NOT know his connection to ACORN, Did you NOT know that he once ran for office as a Communist. Honestly, you are a IDIOT and now I see the poor, the elderly, and the children about to pay for your mistake. Yes, these are the defenseless that Obama and his thugs have attacked. You want evidence: 1) Bailout enslaves our children to hopeless interest payments for the National Debt. 2) The elderly loosing their health care because Medicare will have the same value as Medicaid soon—-no one will take it! 3) Unborn Children will be slaughtered in the name of population control with free abortion money. 4) The working poor will now be burdeoned with paying for health care insurance (or going to jail) while thier employers ‘opt out’.

    You sir, and your magazine are ENABLERS of criminals and a treasonous government. You sold out the defenseless for ‘flash in the pan fake celebrity’ who has no love for this country or those who have sacrificed to build or protect it. Here is why I call you an idiot, Obama didn’t fool you….YOU FOOLED YOU. You enabled not “hope and change” but “Hoax and Chains” to enslave freedom loving hard working Americans to a socialist takeover and corrupt government all the way to the Supreme Court….yes it is all pay to play now!

    Was your ‘vision’ of celebrity and society so great to help ‘enslave’ your fellow Americans? You have no shame, no manhood to truly apologize for what you ‘sold’, and no conscience to investigate and tell the truth.

    Reply

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