Monday, February 2, 2009

Obama Sets Conditions for Banks Receiving Relief

In a new voice:  President Barack Obama sets conditions for banks receiving relief funds.

    A professor John McMurtry of the Global Research firm of Canada, (Center for Research on Globalization)   has asked if this move on the part of Obama comprises  a neo-liberal coup,  or responsible policy.  He ascertains that it is the former:

Dissenting Historian blog has said that "the Party of wealth sees the political handwriting on the wall,  for which the Party of labor seems happy to accept responsibility".    Under the guidelines which Obama has asked Treasury Secretary Timothy Geithner to enact,  banks will have to expand lending as a condition for getting relief.  President Obama has admitted that,  "some of the banks won't make it".

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