By Ben Cohen
Robert Scheer on the Battle For Obama's Economic Soul:
It would be encouraging if the Democratic presidential candidate did
indeed attempt to learn something from Europe’s democratic, and barely
socialist, governing left concerning the welfare of those who are not
super-rich, i.e., how to provide quality health care and education for
all—but that is not what is happening. Instead, Obama has turned to the
same American “free market” elite that views government as merely a
corporate subsidiary. Even within that crowd, however, there are
serious splits, and the more enlightened side seems to be winning.
Key among the good guys is former Federal
Reserve Chairman Paul Volcker, who consistently challenged the radical
anti-regulatory crusade of Alan Greenspan, his immediate successor at
the Fed. Greenspan’s all-too-successful effort to give the banking
lobby everything it had ever dreamed of was abetted by two Clinton-era
secretaries of the treasury, Robert Rubin and Lawrence Summers.
Unfortunately, the two, who should have mustered the grace to depart
public life in deep contrition over their failed policies, are
prominent in the Obama campaign.