Perps in the White House

[eridani]

http://www.readersupportednews.org/off-site-opinion-section/58-58/4576-perps-in-the-white-house

Despite the banking meltdown, Daley has remained a fierce believer in keeping unregulated the financial markets that have caused so much turmoil. He was JPMorgan’s point man in Washington in blunting the already limited financial regulation proposals of the Obama administration. As The New York Times reported: “Mr. Daley, or the corporations he has served in recent years, have worked aggressively behind the scenes to water down or defeat central elements of Mr. Obama’s agenda, opposing the creation of the Consumer Protection Bureau and elements of the health care bill.”

Clearly Obama has responded to the electoral reversal he suffered after his first two years in office just as President Bill Clinton did, by shunning the more populist wing of his party and embracing financial and corporate titans in an effort to prove he is pro-business. The tactic will not work nearly as well for him because, thanks to the financial mess that Clinton enabled and Obama inherited, it will be difficult to paper over the deep problems in this country with easy credit and centrist-sounding policy nostrums.

With 50 million Americans holding “underwater” mortgages, there can be no solution to the housing crisis unless the banks that got us into this wreck are forced to accept cramp-downs and other painful adjustments to help folks stay in their homes. If the economy remains in the sorry state that the Fed predicts for the next two years, Obama will not be re-elected, no matter how much money he is able to raise from his newest best friends on Wall Street.

[dixiegrrrrl]

1. Daly was on Board of think tank that wants to limit lawsuits by homeowners.

the think tank is Third Way. Daly was on its board ( still on? I don't know)

"It wasn’t so long ago that Third Way, which has gained renewed confidence and influence on Capitol Hill in recent weeks, opposed any moratorium on foreclosure operations, sticking their head in the sand and denying the existence of the growing foreclosure fraud crisis beyond a few “technical errors.” The fact that Third Way’s Board of Trustees mostly works in finance, for some of the top banks in America, all of whom are exposed by this crisis, was pretty obvious from their recommendation."

FDL article then discusses the recommendation which FDL sees as a move to limit homeowner's suits against banks.

http://news.firedoglake.com/2011/01/12/bill-daleys-third-way-promotes-limiting-lawsuits-for-foreclosure-fraud-victims/