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(108,903 posts)
Sun Mar 16, 2014, 07:29 AM Mar 2014

There is no meritocracy: Itís just the 1 percent, and the game is rigged [View all]



Public revulsion against this incredible state of affairs is what delivered Barack Obama to the presidency, and we rightfully expected him to address the problem. His resounding failure to do so outweighs all his noble statements about studying hard and climbing ladders of opportunity.

The distressing fact is that Obama had perhaps the greatest chance of any president in recent years to smash the barriers that keep the talented from climbing the ladder, and he chose to do nothing. The sledgehammer was in the president’s hands, the nation was cheering for him to start pounding—and he walked away from the job.

Oh, he is ready to hold kids and teachers accountable, all right—to make sure they all take some Big Test and are sorted accordingly. There have been a few other bright spots as well. The people he has put in charge of the EPA and the Labor Department no longer try to subvert their own agencies, as they did in the Bush years. He appointed the capable Janet Yellen to run the Fed. And: He meted out a satisfying ass-kicking to upper-class twit Mitt Romney.

The other side of the ledger? Well. Obama continued virtually unchanged the Bush Administration’s bailout of the banks that were—let us never forget—the culprits in running up the housing bubble and vectoring its toxins into the economic flesh of the world. He declined to put obviously failed banks into receivership, as the standard practice has always been, and he didn’t remove incompetent bank management in any numbers, as was common with bank bailouts during the Roosevelt Administration. On the contrary, his officials seemed to forget how to negotiate when negotiating might turn out to be costly to bankers. They twisted themselves into pretzels to avoid wielding their ownership stakes in the various financial companies they rescued. In one infamous instance Obama’s team did the exact opposite of accountability, making sure that bonuses went out as scheduled to the AIG division responsible for the instruments that wrecked the company, thus rewarding the fuckups. After that they fanned out to the talk shows to insist on the sanctity of contract—a inviolability they find it easy to violate when it is autoworkers or homeowners on the other side of the table.
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k&r for the truth, however depressing it may be. n/t Laelth Mar 2014 #1
Factual. Enthusiast Mar 2014 #2
No, it's a re-writing of history. nt jazzimov Mar 2014 #34
That would be some twisted history. Enthusiast Mar 2014 #37
I don't think he "chose" to do nothing, he was not allowed to do anything CanonRay Mar 2014 #3
If he's being thwarted by Dark Forces, he can tell us MannyGoldstein Mar 2014 #4
So now he is pushing for neo-liberal free-trade and neo-conservative interventionism? reformist2 Mar 2014 #12
I don't disagree with opposition to some of his policies CanonRay Mar 2014 #14
You're saying elections don't matter pscot Mar 2014 #66
'Cause the other guy are even worse? CanonRay Mar 2014 #68
Great piece, spot on. MannyGoldstein Mar 2014 #5
... xchrom Mar 2014 #6
Recommend jsr Mar 2014 #7
While I agree with much ... 1StrongBlackMan Mar 2014 #8
yes. that 'we' remains problematic in several instances i can think xchrom Mar 2014 #10
Kick. Scuba Mar 2014 #9
America - land where the best & the brightest get to work for the 1%. reformist2 Mar 2014 #11
I'm disappointed in Obama, but for different reasons brooklynboy49 Mar 2014 #13
That's pretty much how I feel. cui bono Mar 2014 #39
Excellent piece. Thanks for posting this. Autumn Mar 2014 #15
Time to stop bitching and moaning about Obama . . . brush Mar 2014 #16
You can look at "...unprecedented repug obstructionism...." as a separate issue. fleabiscuit Mar 2014 #19
You can continue complaining brush Mar 2014 #21
I don't feel comfortable trying to move someone from their belief. fleabiscuit Mar 2014 #23
It's time to get past this brush Mar 2014 #36
And that's one of the reasons why our party sucks ass at GOTV. JoeyT Mar 2014 #24
... xchrom Mar 2014 #31
+1 QC Mar 2014 #38
+2 villager Mar 2014 #46
I've phonebanked also . . . brush Mar 2014 #56
I love how you assume people are only on here "bitching and moaning". cui bono Mar 2014 #41
And constantly complaining about it is getting us where? brush Mar 2014 #47
And where do you think closing your eyes to reality gets us? cui bono Mar 2014 #51
Are you going to work to help elect blue dems . . . brush Mar 2014 #54
That's an easy way to avoid looking at the issues. cui bono Mar 2014 #58
I've worked on the 3 last campaigns. brush Mar 2014 #62
I'm not calling working to get Dems elected deflecting, cui bono Mar 2014 #63
Okay, okay. Obama didn't do everything . . . brush Mar 2014 #64
It won't matter when he's out of office. But we will keep discussing Dem policy. cui bono Mar 2014 #65
How about if we complain about Republican obstructionism while also... JHB Mar 2014 #55
But if you just keep working harder pushing that broom for more hours and less money, someday you're Ed Suspicious Mar 2014 #17
It is disappointing butÖ polynomial Mar 2014 #18
Focused on the 'aspirational' side all right. Octafish Mar 2014 #20
I know many people who do not like his FATCA riverbendviewgal Mar 2014 #22
Thank you very much for this info BrotherIvan Mar 2014 #28
for more info riverbendviewgal Mar 2014 #49
Thank you BrotherIvan Mar 2014 #53
Kick for William K. Black. Octafish Mar 2014 #25
... xchrom Mar 2014 #29
The Legacy Of Obama Will Be The Lost Opportunities To Set Things Right cantbeserious Mar 2014 #26
I thought something similar as I woke up this morning BrotherIvan Mar 2014 #33
That's why it's about working smart CFLDem Mar 2014 #27
Entire article is well-worth the read me b zola Mar 2014 #30
K&R Teamster Jeff Mar 2014 #32
How did this turn into a Obama-bashing OP? jazzimov Mar 2014 #35
But the 1% is not regulated. Still. No push for it either. cui bono Mar 2014 #42
yes he has tossed us some bones Skittles Mar 2014 #52
It wasn't Bear Stearns, it was Lehman Brothers . . . hatrack Mar 2014 #61
kr ... nt MindMover Mar 2014 #40
Why do you think Obama did the things you cited? Martin Eden Mar 2014 #43
K&R woo me with science Mar 2014 #44
K&R ... Bookmarking to read entire article later. Thanks for posting. SaveOurDemocracy Mar 2014 #45
Or, blkmusclmachine Mar 2014 #48
K & R !!! WillyT Mar 2014 #50
Incredible article. Le Taz Hot Mar 2014 #57
K&R nt raouldukelives Mar 2014 #59
DURec leftstreet Mar 2014 #60
Itís different today pscot Mar 2014 #67
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