"Whatever S&P’s agenda, it has nothing to do with avoiding default risks or putting the US on sound fiscal footing. It appears to be intertwined with their attempts to absolve themselves from responsibility for their role in the 2008 financial crisis, and they are willing to manipulate not only the 2012 election but the world economy to escape the SEC’s attempts to regulate them.
It’s time the media and Congress started asking Standard and Poors what their political agenda is and whom it serves."
~ Jane Hamsher
agenda
focus
"So why, if his Presidency has been such an unmitigated disaster, is he continuing to pursue this reckless course. My theory is that the key to the Obama administration’s political strategy is not compromise or incrementalism. It is, quite simply, fooling liberals. When you look at Obama’s governing role, he is clearly a servant of American oligarchs. But obviously he can’t explicitly tell liberals this (unlike Republicans, who are explicit in saying they favor “job creators”), because liberals like to think of themselves as favoring economic justice. So how do you acquire support from liberals, as he did in the primaries in 2008 and will need to do again in 2012, while pursuing oligarch-friendly policies?
You do it by ensuring that liberals only focus on the ceremonial non-governmental aspects of the Presidency. You do it by making sure that they focus only on the televised aspects of the Presidency."
~ Matt Stoller
expectations
". . . if the Democrats suck so bad at political combat, then how come they continue to be rewarded with such massive quantities of campaign contributions? When the final tally comes in for the 2012 presidential race, who among us wouldn't bet that Barack Obama is going to beat his Republican opponent in the fundraising column very handily? At the very least, he won't be out-funded, I can almost guarantee that.
And what does that mean? Who spends hundreds of millions of dollars for what looks, on the outside, like rank incompetence?
It strains the imagination to think that the country's smartest businessmen keep paying top dollar for such lousy performance. Is it possible that by "surrendering" at the 11th hour and signing off on a deal that presages deep cuts in spending for the middle class, but avoids tax increases for the rich, Obama is doing exactly what was expected of him?"
~ Matt Taibbi
at least
"All in all, the weekend's events represent a smashing victory for the Tea Party and a crushing defeat for Democrats -- and more of the same coming down the pike. But at least Congress will be able to recess on time next week."
~ Andrew Leonard @ salon.com
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