Daily Archives: January 9, 2015

Vanity of Vanities; All is Vanity: Obama’s Vain Search for a TPP “Legacy”

By William K. Black
Bloomington, MN: January 8, 2015

The banksters have given Obama an important political opportunity – which he has spurned. The very first thing the new Republican majorities sought to do with their power was to use the Omnibus bill to extort the first of many cuts designed to destroy the Volcker rule. Naturally, Obama agreed and wouldn’t join the Democratic wing of the Party when they could have easily stopped the giveaway if they had received even mild help from the administration. Instead, the administration lobbied hard for the Omnibus bills’ Christmas gift to banksters.

Next, the Republicans sought to slip another big delay in the effective date of provisions of the Volcker bill through Congress. Progressive Democrats killed that attempt. The Obama administration couldn’t even bring itself to feign rage at the effort to gut the Volcker rule.

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WSJ Praises the “Triumph of Austerity” in Greece

NEP’s Bill Black appears on the Real News Network and questions the authenticity of the coverage in the NYT and WSJ about the impact of austerity measures in Greece.

If you would like to view to video with a transcript, it can be seen here.