Obama’s reform plan is to “watch” Wall Street rather than restructure it

by Jim Hightower

Out in West Texas, an oxymoronic weather phenomenon known as a “dry rainstorm” often occurs. It’s particularly tough on farmers. These storms
build with all of the tell-tale signs of a downpour headed toward the farmers’ fields—dark clouds on the horizon and lightning that flares like a pinball machine, followed by the promising clap and rumble of rolling thunder. But then—no rain. The clouds, lightning and thunder blow right over the area, yet they deliver not one drop of the nurturing water the farmers are desperate to have. This hard experience is why you’ll sometimes hear farm folks use a cautionary expression when others have high expectations that something good is about to happen. “I hope so,” they’ll say, “but remember—thunder ain’t rain.”

All of America just had a dry rainstorm sweep across it from out of Washington. On June 17, in response to the unbridled Wall Street greed that has crashed our economy, the Obamicans revealed their long-awaited plan to rein in those rapacious banking beasts. Obama himself trumpeted the plan as “a sweeping overhaul of the financial regulatory system. A transformation on a scale not seen since the reforms that followed the Great Depression.” Then came the actual rollout of proposed actions. So much thunder, so little rain.