Matt Taibbi: "Official End of Obama's Honeymoon"

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Ben Cohen
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By Ben Cohen

Unfortunately, it looks like the suspicions that Obama was in the pocket of Wall St turned out to be true. Writes Matt Taibbi:

It’s an undeniable pattern. He put William Lynn, a former Raytheon


lobbyist, in the Pentagon as Deputy Defense Secretary. A lot of people


squawked about Obama’s early lean towards John Brennan as CIA director


because of his role in establishing the “enhanced interrogation”


policies, but to me more significant was the fact that Brennan was the


former chair of INSA (Intelligence and National Security Alliance),


which is sort of like the Chamber of Commerce of intelligence


contractors. Most importantly, I’m sensing in these economic


appointments a kind of drearily cynical parsing of the approval-rating


situation here — Obama knows he’s still flying high with the “Yes We


Can!” t-shirt crowd, and knows that most people simply are not going to


give a shit if he packs his Treasury Department with Goldman alums and


lobbyists, despite the fact that he explicitly promised to do otherwise.

Speaking with a friend of mine yesterday (who knows a great deal more about economics than I do), he said he wouldn't mind one big giant payout to the banks provided they changed the regulation afterward. Looks like that won't be happening either.