A just released book entitled, “Bought and Paid For: The Unholy Alliance Between Barack Obama and Wall Street“, authored by Charles Gasparino, charges that big business has done well under President Barack Obama and that the benefits of Obamanomics helped disproportionately the fat cats of Wall Street as opposed to Main Street.
Gasparino, a senior correspondent at Fox Business News, argues that while the “cronie capitalism” of Wall Street began well before Mr. Obama’s term, big businesses have benefited the most under his stewardship, although he ran and won the 2008 election promising change.
Peter Gorenstein, taking an excerpt from Gasparino’s book:
“The fact of the matter is, when you strip away the name-calling and class warfare coming from the Obama administration, and when you ignore Wall Street’s gripes about the new financial reform legislation that will put a crimp in some of its profit, these two entities are far more aligned than meets the casual eye. They coexist to help each other — in an unholy alliance against the American taxpayer.”
The book could just as easily carry the subtitle: The unholy alliance between the White House and Wall Street. Gasparino admits Obama is only the last torchbearer; the symbiotic relationship also existed with his predecessors.
