Thursday, September 29, 2011

Robert Scheer: The Men We Trusted to Lead Us - Robert Scheer's Columns - Truthdig

Robert Scheer: The Men We Trusted to Lead Us - Robert Scheer's Columns - Truthdig
But why is Bernanke just now discovering this after having overseen the Fed’s purchase of trillions in toxic mortgage-backed securities from the too-big-to-fail banks that sacrificed people’s homes in a giant Ponzi scheme? Why did he throw all of that money at the banks without getting anything back in the way of relief for the people the bankers swindled?
Indeed. Why are Bernanke and Obama and other Democrats just discovering the unemployment crisis that is fueling the continuing foreclosure meltdown? These are the folks the right wingers are always accusing of being socialists, but all they want to do is bail out banks and insurance companies and auto companies, and on and on and on. Meanwhile, back in America, people are still losing their jobs and their homes. And we hear from Washington that we need to balance the budget by eliminating more jobs--government jobs. In the 1930s, FDR's brain trust backed huge government infrastructure construction projects like Hoover Dam and the TVA. Everybody knows the story. We are still getting electricity out of Hoover Dam today. Las Vegas gets water from Lake Mead. Yet here we are today, three years into the Obama administration, listening to the amazing news that our infrastructure is falling apart. I can show you news stories from ten years ago saying the same thing. Maybe the impending election has something to do with this epiphany.

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