President Obama has proven that he is not a populist but a corporatist and not a true Democrat but a Clintonite/Rubinte bending under the apparent control of the financial industry and caving to the GOP.

Nothing exposes his DINO, corporatist bona fides more than his economic crew filled with the likes of Wall Street supporters Tim Geithner and Larry Summers and Obama's renomination of the incompetent Ben Bernanke at the Fed. 

Obama deliberately avoids the wisdom and advice of such prescient, knowledgeable economists such as Dean Baker, James K. Galbreath and Nobel Prize winners Joseph Stiglitz and Paul Krugman.

Eric M. Johnson at In These Times writes the following about the eminent economist, Joseph Stiglitz:  "If you’re masochistic—or have a lot of Adderall—economist John Maynard Keynes’ 75-year-old opus, The General Theory of Employment, Interest, and Money, is full of gems that shine light on the modern pickle over regulatory reform and ideological direction.

"To wit: 'The difficulty lies not in the new ideas, but in escaping from the old ones,' Keynes wrote. That is an apt summary of the message that Nobel-laureate and New Keynesian economist Joseph Stiglitz is preaching as he tours the country with his new book, Free Fall: America, Free Markets, and The Sinking of the World Economy (W. W. Norton, January).

"The Obama stimulus bill, he argues, was neither big enough nor enacted fast enough.

"Stiglitz and his followers want, among other things, rigorous regulation, including the separation of investment banking, commercial banking, and hedge funds, and another round of ecoomic stimulus. To Stiglitz, size does matter, and it’s a problem: the market share of the five largest U.S. banks grew from 8 percent in 1995 to 30 percent today.

“ 'I didn’t expect universal support for the perspective that I push for,” says Stiglitz, “but at least very strong support. I have been a little bit amazed at, for instance, within the economics profession, the number of economists that seem to still believe the efficient market hypothesis. There are even those who say, ‘What are people upset about with unemployment? That is just an opportunity to enjoy more leisure.’ “

"Where should average citizens channel their anger?

"For starters, Stiglitz says, people should demand that Congress limit the size of banks — in other words, break the big banks into smaller units.

“ 'Because they are too-big-to-fail, they can borrow at a lower interest rate, he says. 'And as they grow bigger they garner more of the market. We ought to tax them to level the playing field.' ”