Monday, May 21, 2012


In the wake of previous financial crises, even Republican administrations demanded some accountability of savings and loans and of Enron.

But that was many years ago. After a far worse financial collapse, the Obama administration has handled the banks with kid gloves -- and yet he's hated by the banks. Obama runs an ad about Mitt Romney's record at Bain Capital that's no worse than what was said by every Democrat who ever ran against him in the past, not to mention what a couple of Republican opponents said in this year'a primary campaign --and the combined result has dried up Obama's super PAC contributions:

Obama super PAC slump continues

The pro-Barack Obama super PAC Priorities USA Action is still struggling to keep up with GOP super PACs preparing to unleash millions of dollars in independent advertisements.

Priorities USA Action raised $1.6 million in April, according to federal records released late Sunday. It's the smallest haul the group has pulled in since the meager $59,000 the group raised in January.

The group raked in $3 million less than the pro-Mitt Romney super PAC Restore Our Future raised in April, even as the GOP group reported its worst fundraising month so far this year.

The bulk of Priorities USA Action's cash in April came from labor groups....

Why do you think Cory Booker -- an ambitious guy who seems as if he'd like to be president himself one day -- was on Meet the Press yesterday sandbagging the president?

Appearing on NBC's "Meet The Press" on Sunday, Newark, New Jersey Mayor and Obama surrogate Cory Booker said he was "uncomfortable" with the Obama campaign's attacks on Mitt Romney's record with Bain Capital.

"It's a distraction from the real issues," Booker said, of both attacks on Bain and Rev. Jeremiah Wright. "It's either gonna be a small campaign about this crap, or it's gonna be a big campaign about the issues the American public cares about."

"I'm not about to sit here and indict private equity," Booker added. "If you look at the totality of Bain Capital's record, they've done a lot to support businesses -- to grow businesses. And this to me, I'm very uncomfortable."

In the future, if you're a politician with big ambitions, that's the maximum amount of business accountability you're going to be allowed to support: none whatsoever. Business accountability is going to be like gun control: speak in favor of it and your career is over.

Someday Cory Booker may be an ersatz-Democratic president. But in a Citizens United world, Barack Obama will be the last president even vaguely recognizable as Democratic in the post-FDR sense of the word. He's going to be the last president we'll ever have who even pays lip service to accountability for business.


UPDATE: And no, Cory, you can't walk it back. You were far too definite and far too specific. You said it was "nauseating" ever to criticize private equity funds; saying you're sorry now isn't a walk-back, it's a flip-flop, of Romney or Gingrich proportions.


Victor said...

I was speechless when I read about that yesterday.

Something I wish Mayor Booker might have been, instead of responding.

Mr. Mayor, when crazy corporatist-whore Jim Cramer, who was also on the panel, is to your left on an issue, you might want to, you know, reconsider your position, or, better yet - stfu!

We don't need Democrats buying into the "Job Creators" myth.

We need ones who'll fight it!

Mayor Booker, I hope you find some good use out of those 30 corporate pieces of silver you sold the people out for yesterday.

And I'm afraid you're right, Steve:
There are a lot of useless DINO's out there, and corporations and the wealthy have trillions of pieces of silver to sway them with - or pay them outright.

We, as a nation, are well and truly fecked!

Danp said...

Booker's later reversal suggests that he was either woefully uninformed or is as well oiled a weather vane as Romney. Either way, I suspect he earned himself a lot more invitations to Sunday morning talk shows, and I hope he crawls into a corner and shuts up.

Steve M. said...

Enabling Chris Christie's VP ambitions by means of that comedy video was also a way for Booker to get credibility with Very Serious People.

Ten Bears said...

The Mayor, of Newark New jersey, President!?

BWAHAHAHAHAHAHahahahahahahahaha ...

The way things are going (If This Goes On...*), Obama is likely to be The Last President. If This Goes On (1953) is a story is set in a future theocratic American society, ruled by the latest in a series of “Prophets.” The First Prophet was Nehemiah Scudder, a backwoods preacher turned President (elected in 2012), then dictator (no elections were held in 2016 or later).

*Robert A Heinlein, see also Revolt in 2100

Never Ben Better said...

*waves to fellow Heinlein fan*

Victor said...


Never mind.


BH said...

Heinlein-heads unite. I think I first learned about theocracies from those tales, TB. If you combine them with Sinclair Lewis' "It Can't Happen Here", & then watch some TeaPartier footage, it all starts getting spooky.

This Booker guy... was he formerly known as Harold Ford, Jr.? Whoever the hell he is, I hope they drop him from the "surrogates" list like a hot rock. Seems like an Americans Elect kinda fella.

Steve M. said...

In fact, Harold Ford says he agrees with Booker's criticism of the Obama campaign.

BH said...

I yam shocked... shocked, Steve.

Victor said...

Harold Ford?


He was on Imus all the time, polishing his knob and tenderly kissing his knob.

What and asshat?

Greg said...

in a Citizens United world, Barack Obama will be the last president even vaguely recognizable as Democratic in the post-FDR sense of the word. He's going to be the last president w'll ever have who even pays lip service to accountability for business.

This is the basic home truth of the whole deal right now. I do hope I'll be allowed a little room for snark about the future ersatz Dems, in place only to keep the illusion of "progressive" possibility (as that definition moves ever rightward) alive.