A rare unfettered glimpse into how banks own our modern politics: Obama just effectively secured his second term (in the vile and despicable form of pardoning Wall Street crime).
Here's what seems, for all intents and purposes, to have happened:
Wall Street donors waking up to the impending depths of global recession demand Obama do something to reassure markets. Obama calls up Warren Buffett from the Vineyard, somehow reassuring him that propping up our too-big-to-fail-banks is still his number one priority, and that Goldman Sachs, JP Morgan, Wells Fargo, Citigroup, Ally Financial and especially Bank of America will be granted effective immunity from future embarrassing and potentially quite costly litigation, after paying their purely symbolic petty one-time fine, so that everyone can move on.
Everyone, that is, unless you happen to be one of the victims of the largest criminal mortgage and pension frauds in history. Your rights, along with any records of the unprecedented criminal activity of the professional gamblers who swindled you into financial ruin, will be swept under the carpet.
True to Obama's word, Eric Schneiderman, the only man alive with any integrity, has been plucked out of the multi-state mortgage-settlement talks.
Buffett suddenly, brazenly invests $5 Billion in Bank of America, whose self-inflicted problems with the crooks at Countrywide are about to go away, and has already earned some of it back based on the extremely positive market reaction.
NPR does its typical kid glove job almost covering the story here, without offending anyone.
Jonathan Turley puts NPR to shame, and gets more intelligent comments as well.
Update: New evidence reveals the failure of the bailout to do anything for Main Street.