Bailed-out Wall Street Executives paid for the Obama coronation

All the festivalities around Obama’s inauguration felt more like a coronation of some sort of God-King than that of a President. Given that we live in a constitution republic where the Executive Branch is constitutionally limited to the point where the President doesn’t really do that much, it was all very strange.

Of course, I’m not a big fan of pep rallies and distrust politicians, but a lot of people the past few days have been living in another world. I heard several people say things along the lines of, “Now that Obama is President everything is going to be so easy!” or “Watching him speak is like watching God speak.”

Maybe, just maybe, we should wait until he actually does something before we deify him. Talk is cheap, let’s see some action.

ABC News is reporting that Obama’s inauguration cost $170 million. During a recession.

And the party was paid for by the taxpayer and several rich donors:

They are not the $20 and $50 donors who helped propel Obama through Election Day,” said Massie Ritsch, communications director for the Center for Responsive Politics. “These are people giving mostly $50,000 apiece. They tend to be corporate executives, celebrities, the elite of the elite.

The biggest group of donors were none other than the recently bailed-out Wall Street executives and employees.

“The finance sector is well represented, despite its recent troubles,” Ritsch said. “Those who worked in finance still managed to pull together nearly $7 million for the inauguration.”

So Obama supports and votes for a pork laden bailout package for the banks. The bank executives get their “retention bonuses“. And the bank executives throw a big party for Obama. In the end, the taxpayers get the bill.

That doesn’t sound like Change.

It is, of course, very good that everyone is hopeful and inspired, but I hope we’re not piling all of our hopes and dreams in an unworthy vessel.

I don’t trust any politician. I’d love to be proven wrong if Obama fulfills his campaign promises and fixes all our problems. I just doubt it will happen. I guess we’ll find out soon enough.

Comments (1) to “Bailed-out Wall Street Executives paid for the Obama coronation”

  1. [...] As I’ve noted before, his real actions don’t match his rhetoric and it seems like the same cast of characters continues to have significant influence on what gets [...]

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