As the Magnetar-Rahm connection highlights, Obama raised more money from financial services players than any previous presidential candidate, so it can hardly be a surprise that he and his minions are happy to give the industry a free pass. Key policy figures maintain that no one was at fault, that there was a pervasive lack of regulation, and there are therefore no bad actors. That party line also means that destructive behavior is and will remain unquestioned, unexamined, uncorrected, and unpunished.
in the time remaining, to help us understand how the man-made system of capitalism will lead to the extinction of our human species, and so many others.
Wednesday, April 14, 2010
Rahm Emanuel and Magnetar Capital: The Definition of Compromised
from Naked Capitalism. Yves Smith casts her penetrating eyes on the sub-prime mortgage debacle to reveal more hidden-from-the-public facts regarding this scandal such as the fact that Emanuel Rahm was a key player. So one can be sure that no new onerous regulations (to the financial industry) will be passed during the current administration, or likely any other under the capitalist system.