I have written extensively about the mis-titled JOBS Act here and here. Today, Matt Taibbi over at Rolling Stone offered up his analysis of the fraud inducing measure. But most importantly, he adds his voice to the choir of us who understand that the administration of Barack Obama is far to friendly to Wall Street.
In the meantime, let’s just say this is a dramatic step taken by Barack Obama. Nobody should have any illusions about where he stands on Wall Street corruption after this thing. Boss Tweed himself couldn’t have done any worse.
As I’ve said before, what makes this cozy relationship with Wall Street so extraordinarily sad, is that it has been utterly unnecessary. While certain Wall Street friendly policies immediately following the housing collapse were wrongheaded yet understandable to some degree, these more recent overtures to those who cost millions their jobs and homes, are not.