Pity the Billionaire

English: President Barack Obama meets with Pre...

English: President Barack Obama meets with President Clinton in the Oval Office 4/21/09 Français : Le président Barack Obama recevant l’ancien président Bill Clinton dans le bureau ovale (Photo credit: Wikipedia)

Pity the Billionaire, The Hard-Times Swindle and the Unlikely Comeback of the Right by Thomas Frank.

It is Frank’s contention that Barack Obama would have gotten better results in his first term if he had followed the FDR model instead of the Bill Clinton model.

“Moneyed interests understand that with no second FDR, no incorruptible new cop on the financial beat, no return to the rules that once made banking boring but safe, they have nothing to fear from us, and may do as they please. This is the real  tragedy of the Great Recession.”