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MATT TAIBBI GIVES TIMELINE OF OBAMA’S FLIP-FLOP
by John Charlton
(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.