For Immediate Release
Taruna Godric, 416-916-5202 ext. 414
Obama and Wall Street
Ferguson: Wall Street has been backing Obama from the start.
WASHINGTON - The Real News' Paul Jay
spoke with Thomas Ferguson, professor of political science at the
University of Massachusetts Boston, to get his thoughts on the Geithner
plan for bank reform.
"I would have done it the way Roosevelt did it in the
New Deal, or with some variation what the Swedes did in the early
1990s," says Ferguson.
He argues instead, the Obama administration has "put the cart before the horse."
of the striking things about the Geithner program yesterday was he's
busily announcing his program before he does the stress test on the
banks. Remember, they're supposed to find out the condition of the
banks," says Ferguson.
No one wants to ask the banks whether they're solvent or not because they're afraid they're not, argues Ferguson.
It's the banking version of don't ask, don't tell, he says.
"Every four years my slogan is I'll tell you who bought
your candidate before you vote for him or her....You get what you pay
for, and they paid. I'm sorry to say, the people who caused the
problem are to a very large degree the folks who were primary backers
For complete coverage of this story visit our website: http://therealnews.com/t/
This is the world we live in. This is the world we cover.
Because of people like you, another world is possible. There are many battles to be won, but we will battle them together—all of us. Common Dreams is not your normal news site. We don't survive on clicks. We don't want advertising dollars. We want the world to be a better place. But we can't do it alone. It doesn't work that way. We need you. If you can help today—because every gift of every size matters—please do. Without Your Support We Simply Don't Exist.
The Real News Network is a television news and documentary network focused on providing independent and uncompromising journalism. Our staff, in collaboration with courageous journalists around the globe, will investigate, report and debate stories on the critical issues of our times. We are viewer supported and do not accept advertising, government or corporate funding.