Obama - capitulates to the corporations again and again.

Obama campaigned on change. There is not much in sight. Just like his predecessors he has capitulated to the corporations again and again. The so called health legislation was a hand out of billions of the tax payers money to the insurance companies while leaving the sickness industrial complex in private hands and run for profit. Sucking the life out of people for profit. He has stepped up the wars and occupations in the Middle East to protect the power and wealth of the oil and gas and general corporate industry of US capitalism. Again putting profits before peoples lives. Then we have his pathetic inaction in the face of the oil catastrophe in the gulp. Cowed by BP and the major corporations he makes his visits to the gulf for photo ops and meanwhile the oil keeps gushing out. I fact it is worse than that. Before this catastrophe he gave the go ahead for more off shore drilling. Obviously he was convinced by the Cheyney and Palin "drill baby drill." By the way it shows how paralyzed the Democrats are by their commitment to capitalism when they cannot go after Palin and Cheyney and the Republicans for their support of "drill baby drill." And now he declares that he has just won another victory with his regulation bill on the finance industry, that is Wall Street and the banks. But let us have a look at this.

The Wall Street Journal is no friend of Obama's and opposes any regulation of the financial industry. So their reaction is helpful in figuring out the reality of the bill. Are they distraught? Not a bit of it. Here is what they reported. Wall Street reacted by bidding up stocks of the big financial companies. And companies most affected by the rules, including the criminal conspiracies Goldman Sachs and J.P. Morgan rose even further. The ex CEO of Bears Stearns which had to be bailed out by tax payers money said he "sees positives" in the bill

The Wall Street Journal it was "not as tough as we feared but tougher than we had hoped." And one of its main articles on the proposed bill in its Saturday/Sunday June 26th/27th edition had the headline:"Biggest Banks manage to dodge some bullets." So there you have it. Wall street escaped any serious action. Obama the capitalist representative and his capitalist party the Democrats and the capitalist party the Republicans deliver for their class again.

There were no workers representatives present when decisions were taken as to what action to take against the financial industry which brought the world to the brink of collapse in 2008/2009. The collapse was only averted by capitalism being bailed out by tax payers, that is overwhelmingly workers taxes. This bail out money could have been used for working peoples' needs. The working class needs to take the decisions on these issues. They need to start by moving to end capitalism. Take over the major financial corporations under democratic workers control and management and use this wealth to develop a democratic plan to solve the problems of the peoples and the planet. Obama's bill leaves the crooks and criminals of capitalism and the capitalist system itself still in complete control. This is a catastrophe. More mass poverty, more environmental degradation, more wars and occupations, more oil spills, more financial collapses, I could go on.

The alternative is to fight for a democratic socialist world. Contact us and let us work for this alternative.

Sean.