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Benzinga / By William K. Black
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Wall Street's Plan to Push Obama to Betray Those Who Elected Him

Through its lobbying group Third Way and media mouthpieces, Wall Street is determined to destroy the social safety net.

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11. The Good News: Wall Street is Worried

The fact that Wall Street (via Third Way) is worried by our opposition to Obama engaging in the Great Betrayal by adopting austerity and cutting the safety net is good news.  Wall Street knows that the public wants the President to protect the safety net from Wall Street’s depredations. We need to organize now to save the safety net.

*This article was adapted from a longer essay on Benzinga.com.

Bill Black is the author of 'The Best Way to Rob a Bank is to Own One' and an associate professor of economics and law at the University of Missouri-Kansas City. He spent years working on regulatory policy and fraud prevention as Executive Director of the Institute for Fraud Prevention, Litigation Director of the Federal Home Loan Bank Board and Deputy Director of the National Commission on Financial Institution Reform, Recovery and Enforcement, among other positions.

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