The Bush/Obama one-two punch has been catastrophic for most Americans, highlighting the meaninglessness of our two-party system and the focus of political bankrollers on self-interest rather than national interest. We must also not forget that the stage for the Bush/Obama tragedy was set by Clinton, whose administration repealed the banking protections of Glass-Steagall which had guarded the financial system since 1933, thereby paving the way for banks to gamble with deposits and become too big to fail.

When they did fail, both Bush and Obama rescued them with taxpayer money in a way that has left them even bigger and with the same exposure to exotic financial risk that cratered them five years ago. Read more…