As his Saudi allies, using his precision weapons, were bombing 1,000 Yemeni civilians at a funeral Oct. 8, killing 200 or more, Barack Obama wrote a lengthy praise of himself in The Economist the same day, declaring again: Big banks are good, and I will not allow them to be broken up.
The Economist is the weekly publication of the City of London, for whose (and Wall Street’s) banks Obama has been an agent since his first G-20 meeting there in April 2009. Then, Obama defended AIG and Goldman Sachs, et. al. from the demand to prosecute their top executives, telling Americans that “some of what they did was immoral, but it was not illegal.” The big banks have been found guilty of dozens of blatantly illegal acts since then! But no senior executive has gone to prison, thanks to Obama’s defense of their power over Congress and the law.
Obama claims a legacy of “economic recovery,” when drug addictions and suicides are at unprecedented levels in America and death rates are rising for large parts of the population in their prime working years. He claims “recovery” when he has destroyed the productivity growth of our workforce for years, eliminating NASA’s manned space exploration, shutting down fusion energy and technology development.
Obama claims the Peace Prize, when he has thrown U.S. forces into more wars than any other President in history and killed thousands of unknowns by drone warfare.
He and his diplomats rant against Russian President Putin’s successful intervention against al-Qaeda and ISIS terrorist forces in Syria; they talk about provoking war with Russia. Meanwhile Obama himself has insisted on arming and aiding Saudi Arabia’s unprovoked invasion and near genocidal attack on the people of Yemen.
This is a president who has just been defeated by Congress and the American people on the issue of Saudi-British support for terrorism. He was compelled to declassify the “28 pages” on the Saudi role in the 9/11 attacks; Congress massively overrode his attempted veto of the Justice Against Sponsors of Terrorism Act.
Obama is not out yet, but he should be. A president of such crimes should not be able to order the American people, “Do not break up the Wall Street banks.”
Only an imbecile would fail to see how close we are to financial meltdown, and to war with Russia or China. What the United States does now is central to saving humanity. Glass-Steagall must be adopted in the United States, and copied with Europe’s basket-case big banks. Otherwise, credit for productive employment, revived economic growth, rising productivity is not possible.
The time for a second, more important defeat of Obama is now.