I declined to write this post about President Obama for about two years, but I’ve never been the type to bite my tongue…
The details surrounding that famous 2008 hush-hush meeting between then-candidate Obama and challenger Hillary Clinton are still sketchy, but Obama’s actions up to now, including his decision to launch a criminal investigation of the most sophisticated financial hit job in modern history with only 55 investigators, which is a fraction of the number of investigators who sniffed around the 80’s savings & loan scams, makes my job of pretending I was a mosquito by the window of that Clinton-Obama summit a hell of a lot easier.
My guess is that the banks were solidly behind Hillary Clinton’s run for President just as they were behind hubby Bill Clinton when he sat in the Big Chair, but realized that Senator Obama had a tremendous amount of popular support, making the Hillary bet foolish. Two other problems lingered since they did not know if Obama was down for the banksta cause like the Clintons were, but did know that the mortgage-derivatives scam game was about to end ugly.
Hillary likely told future 44, “I’m out of this race and you will be the President. BUT, you will stuff MY team in your administration to look out for my banking peeps. “Change” was a nice campaign slogan, but blow it out you-know-where. Here’s how policy is going to be run for the next four years…”
It’s well-documented that Obama’s economic advisory personnel changed virtually overnight after that meeting. Even after the massive turnover in economic advisers since Obama took the oath of office, Tim Geithner, one of the closest friends of the Clintons, is still the shot-calling Treasury Secretary, and appears to have a license to disobey orders from the President concerning the handling of banks.
This is why I think Obama is caught up. “They” got to him. Perhaps even threatened him. Or perhaps Obama, who I believe is one of the most cerebral Presidents in American history, views this journey as an eight-round fight and knew he wasn’t going to throw many punches until the fifth…
song currently stuck in my head: “three bags full” – herbie hancock