Populism is in vogue again in the Oval Office. Unfortunately, it's probably too late for anything other than great soundbites becuase of this Supreme Court decision.
While this ruling would have come down no matter what, President Obama -- listening to Rahm Emanuel, Tim Geitner & Larry Summers -- wasted an entire year coddling Wall Street and the Banking Industry when he should have been instituting strict new banking regulations, adding prominent strings & conditions to banks that needed bailout money, and re-instituting the Glass-Stengel Act 2.0, and whatever other regulations that were rolled back over the past 20 years by both Democratic & Republican administrations and congresses.
Instead, his delay for over a year all but ruined any chance of getting any real banking reform being signed into law, at all.
That's just one very real, very contemporary example of what this Supreme Court decision will cost due to lack of "populism" during the first year of Obama's presidency.
A "populism" that he rode into office and discarded as soon as he surrounded himself with the very people who helped turn this country into the United Corporations of America.
Via The White House Website:
In this week’s address, President Barack Obama addresses the Supreme Court decision to further empower corporations to use their financial clout to directly influence elections and vows that "as long as I'm your President, I'll never stop fighting to make sure that the most powerful voice in Washington belongs to you."
Read the Transcript