Obama’s financial industry reform: business as usual

Posted: June 25, 2009 in society
Tags: , , ,

Obama’s reform, saying it once again, does not make any major structural changes. The US president’s words are just weasel talk, glossing over the fact that Wall Street is still in control. The regulator, the Federal Reserve, claims not knowing who its trillions of dollars distributed to financial institutions are going to, the Glass Steagall Act that once separated plain vanilla banking from casino capitalism institutions is not being reinstated, and Wall Street tries to pay off debts owed to the government as quickly as it can so it can go back to its ways before the crisis. All in all: business as usual.  A very interesting clip explaining in simple words what was and is going on behind the Wall Street and White House scenes.

Via the REALnews network

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  1. […] Obama’s financial industry reform: business as usual (isiria.wordpress.com) […]

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