We’ve lived so long under the spell of hierarchy—from god-kings to feudal lords to party bosses—that only recently have we awakened to see not only that “regular” citizens have the capacity for self-governance, but that without their engagement our huge global crises cannot be addressed. The changes needed for human society simply to survive, let alone thrive, are so profound that the only way we will move toward them is if we ourselves, regular citizens, feel meaningful ownership of solutions through direct engagement. Our problems are too big, interrelated, and pervasive to yield to directives from on high.
—Frances Moore Lappé, excerpt from Time for Progressives to Grow Up

Tuesday, November 12, 2013

President Obama Taps Another Wall Street Law Firm Partner to Head a Regulator

Click here to access article by Pam Martens from Wall Street on Parade
President Obama is about to do it again – appoint one of those revolving door Wall Street lawyers to head a critical top post at one of Wall Street’s key regulators. This time it’s the Chair of the Commodity Futures Trading Commission. 
She acts like this is unusual. And, of course, it has little to do with Obama. From my readings and observations over many years, I'd say that this is practice as usual especially in any government agencies that oversee corporate operations. 

You have people on the Food and Drug Commission that come from major food and drug corporations, likewise you find people previously from major polluting industries on the Environmental Protection Agency, etc. However, this practice doesn't merely occur in regulatory agencies, the financial/corporate ruling class inserts their representatives, or people they can trust, to serve their interests in all important areas of society. 

Focusing on the issue as an Obama policy is extremely myopic, and thus avoids looking at the broader power dynamics of a class structured society.