…Obama’s proposed solution—the American Recovery and Reinvestment Plan—will allocate hundreds of billions of dollars in public funds, the bulk of which will flow into the coffers of the very banks and corporations that reaped massive profits from the policies that precipitated the crash of 2008.
In a number of interviews leading up to Thursday’s speech, Obama made a point of stressing that in formulating his stimulus plan he had consulted Republican politicians and economists—that is, the very forces who have been the most ferocious advocates of the “free market” policies that contributed to the crisis…
The modus operandi of Obama’s speech mirrored that employed three months ago to rush through Congress the Troubled Assets Relief Program (TARP), which transferred $700 billion in taxpayer funds to the banks. Barry Grey
[read the rest at the WSWS, here]
Filed under: disaster capitalism, Economic Crisis ie. Disaster Capitalism, Fuck Obama, get to know a sellout, Neocons = Neolibs, Obama Cabinet, Obama™, war on the middle class Tagged: | barack obama, Blue dog Democrats, Noecons = Neolibs, obama economic policy, Obama stimulus plan is sht