Dick Gephardt's Spectacular Sellout

The Nation by Sebastian Jones | Oct. 3, 2009 (Special Report)

In March, months after the government gave an unprecedented $85 billion to AIG, the insurance giant released a list of counterparties, exposing some of the world's top financial institutions as the real recipients of the bailout. First among its peers, Goldman Sachs got a whopping $12.9 billion, despite having claimed in September to be insulated from AIG's troubles. Based on these revelations, Maryland Democratic Congressman Elijah Cummings, who had ... Full Story »

Posted by Vincent Caminiti - via The Nation

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Derek Hawkins
3.9
 by Derek Hawkins - Oct. 3, 2009

As autumn sets in, the progressive agenda on which Barack Obama rode to victory last November has stalled, even with Democrats controlling every branch of government. Key aspects of healthcare reform, like a public option, appear dead; climate change legislation, having narrowly passed the House in June, awaits an uncertain fate in the Senate; the Employee Free Choice Act and financial industry reforms have gone off the grid. Behind all these setbacks is a pattern: with little outright opposition, corporate interests have insinuated themselves into the legislative process to co-opt attempts at reform. As a result, the big-ticket items are rotting away, key provisions have been removed and bills are being weakened beyond recognition behind closed doors.

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