Has Obama Finally Figured Out He Should Be Listening To Bernie Sanders, Not The Bankster Enablers?

Their sentence: half million dollars a year-- take that!

To answer the question in the title, ask youself another one. Is Obama really going to curb the siphoning of taxpayer money into the pockets of crooked banksters? I don't believe it. I don't believe he'll do anything that will get anyone with any power angry... ever. He's a dud. Sorry.

This morning's NY Times claims that "the Obama administration is expected to impose a cap of $500,000 for top executives at companies that receive large amounts of bailout money, according to people familiar with the plan. Under new rules to be announced by the Treasury Department Wednesday, executives would also be prohibited from receiving any bonuses above their base pay, except for normal stock dividends." When Sanders proposed this before Bush handed out $350 billion to these crooks, Obama, McCain and both Inside-the-Beltway establishment parties rejected it. Now people are pissed off. Not enough to reach for their pitchforks yet... but how far away is that?

The Wall Street/GOP rap on this is that $500,000 a year is chicken feed and no one will want to work for such a pittance. No one? Chicken feed? See the crooks up top? From left to right they are Vikram Pandit of Citigroup ($3.1 million), Kenneth D. Lewis of Bank of America (over $20 million) and Rick Wagoner of General Motors ($14.4 million). Had they not worked maybe their companies wouldn't be bankrupt save for billions of our tax dollars injected into them-- and, more important, maybe the economy wouldn't currently be teetering on the brink of a Depression. So that threat doesn't hold much water. This morning's Washington Post talks about enlarging the disastrous Insider "rescue" plan. So we're going to look a bunch of Wall Street types, many of them complicit in the catastrophe, decide how to fix it-- with our money? If you trust Obama's intentions and competence, you might want to bite. I don't and it looks like crap to me.

Bernie Sanders is who America should have elected president, someone who actually doesn't pussyfoot around. Watch him with Rachel Maddow last night: Is he amazing! (Almost as good as Tom Geoghagen was when I heard him speak here in L.A. yesterday.)