To The Poorhouse: President Obama's Toxic Plans

Amid our worldwide financial meltdown, deep thinkers in the Obama administration now encourage small investors to invest in toxic assets without sufficiently warning them of the substantial risks involved.

In the same vein, President Obama urges all young people to get college degrees, not noting that many graduates and dropouts, mired in debt after graduation, will grease the palms of lenders for the rest of their educated lives.

Secretary Geithner, enriched guru Larry Summers and their crew are intent on rescuing the same money changers whose corruption and criminality have led the world to fiscal hell in a handbasket. Their aim is to get the nation (and the world) up and borrowing as before. Like greed, debt is good.

It took Jon Stewart to lift the veil on a touted decrease in military spending that is actually a spending increase. The Obama Plan will maintaining a significant military presence (with bases) in Iraq, expand military operations in Afghanistan -- at an unspecified cost in cash and lives. Is it whimsy to believe we can repair our national infrastructure while doing the same for two ravaged nations in the Middle East, pay down the skyrocketing national debt and emerge to be some mythical shining city on a hill? Transparency, where art thou?

As with Meredith Willson's Harold Hill, President Obama wowed the crowds on his European trip. Our very own savvy, brassy Music Man of world politics had his audience dancing in the aisles, ready to follow with or without trombones.

Back home, the Obama administration shows no interest in holding modern Willie Suttons of finance accountable for thievery. Will the president directly address charges by Prof. William K. Black and others that government and industry conspired and continue to conspire in a world-class criminal cabal? Will the Obama pledge to avoid conflicts of interest in his administration be applied to Larry Summers and Timothy Geithner?

In March, President Obama demanded accountability from Pakistan, but he seems blithely unwilling to demand the same from gold-plated rulers running America's financial industry.

Was a deal struck between President Obama and President George W. Bush to avoid holding top members of the Bush administration accountable for possible (probable) criminal actions including torture and other gross violations of our constitution, treaties, international law? Has the fear card over money been played so enthusiastically to take voters' attention away from cover-up actions by both the Bush and Obama administrations?

Q: How long can President Obama avoid discussing the Red Cross report on torture? A: As long as the White House press corpse remains deaf to the issue.

Speaking of torture, murder and other "harshness," what of Leon Panetta's directive that C.I.A. personnel who engaged in "extraordinary techniques" based on advice from lawyers will not be held accountable for their actions? If this legal theory is legitimate and if a shingled lawyer says it's o.k. for me to rob the local bank or beat my neighbor senseless, may I escape accountability? Maybe the nifty Panetta Doctrine just applies to government employees.

Concerning honor and fundamental constitutional issues, the Obama administration seems to be conflicted. At this point I would encourage students to avoid Professor Obama's course in Constitutional Law 101.

Doug Giebel welcomes comment at dougcatz[at]ttc-cmc.net

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