By Paul Craig Roberts
May 14, 2009 "Information Clearing House" -- -What do you suppose it is like to be elected president of the United States only to find that your power is restricted to the service of powerful interest groups?
A president who does a good job for the ruling interest groups is paid off with remunerative corporate directorships, outrageous speaking fees, and a lucrative book contract. If he is young when he assumes office, like Bill Clinton and Obama, it means a long life of luxurious leisure.
Fighting the special interests doesn’t pay and doesn’t succeed. On April 30 the primacy of special over public interests was demonstrated yet again. The Democrats’ bill to prevent 1.7 million mortgage foreclosures and, thus, preserve $300 billion in home equity by permitting homeowners to renegotiate their mortgages, was defeated in the Senate, despite the 60-vote majority of the Democrats. The banksters were able to defeat the bill 51 to 45.
May 14, 2009 "Information Clearing House" -- -What do you suppose it is like to be elected president of the United States only to find that your power is restricted to the service of powerful interest groups?
A president who does a good job for the ruling interest groups is paid off with remunerative corporate directorships, outrageous speaking fees, and a lucrative book contract. If he is young when he assumes office, like Bill Clinton and Obama, it means a long life of luxurious leisure.
Fighting the special interests doesn’t pay and doesn’t succeed. On April 30 the primacy of special over public interests was demonstrated yet again. The Democrats’ bill to prevent 1.7 million mortgage foreclosures and, thus, preserve $300 billion in home equity by permitting homeowners to renegotiate their mortgages, was defeated in the Senate, despite the 60-vote majority of the Democrats. The banksters were able to defeat the bill 51 to 45.
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