Primitive puts some blame for $ crisis on Bubba & Co -- flamefest ensues

[DULurkster]

http://www.democraticunderground.com/discuss/duboard.php?az=view_all&address=132x8320035

MannyGoldstein  Donating Member  (1000+ posts)        Sat Apr-04-09 09:46 AM
Original message
We Slept When Clinton/Summers Raped the Middle Class; We're Sleeping Again
   
The two pillars of our current economic tsunami were both primarily products of Larry Summers, Robert Rubin, and Bill Clinton:

1. Wholesale financial deregulation
2. Job-obliterating Almost-Free Trade With China

When these things were happening, some of us said "Wait - this is a great idea for the Banker Class, but a catastrophe-in-waiting for the Middle Class." We were told to f*** off; after all "They're Democrats!", and these things are far too subtle to be understood by us little people.

Now here we are.

Today we're seeing a repeat - some of the same actors taking actions to, once again, brutally screw the Middle Class. Once again, it'll be great for the Banker Class; they will be given many trillions of our tax dollars under "heads you win, tails we lose" rules. Virtually every economist of any standing has called this for exactly what it is - another catastrophe-in-waiting. But, once again, those who see what's happening are being told to f*** off. "They call themselves Democrats, so we have to support them".

 

[thundley4]

Hedge fund paid 0Bama advisor Summers $5.2 million
"WASHINGTON (Reuters) – Lawrence Summers, a top economic adviser to U.S. President Barack Obama, was paid about $5.2 million by hedge fund D.E. Shaw in the past year, financial disclosure forms released by the White House showed on Friday.
Summers, a former U.S. Treasury secretary and Harvard University president, also was paid $2.7 million in speaking fees by a range of organizations and companies, including several troubled Wall Street financial firms, they showed.
The disclosure documents on Summers and other White House officials advising Obama on the global financial crisis covered 2008 and the first few months of this year. Summers became an official adviser on January 20 when Obama took office.
Summers, who was a part-time managing director of D.E. Shaw after stepping down as Harvard president, had speaking fees of $67,500 from JP Morgan, $45,000 from Citigroup, $135,000 from Goldman Sachs and $67,500 from Lehman Brothers, which went bankrupt in the mortgage crisis last year."