ABSTRACT
This chapter focuses on the administration's service to the dominant business class and financial elite in regard to domestic economic and social policy. The situation was being corrected by the Obama administration, falsely accused of socialism. As Norris explained: In the Obama administration version of state capitalism as applied to the auto industry, the state was more ruthlessly capitalist than the capitalists themselves. Using any variety of measures, the Obama administration has broken all records in the distribution of tax dollars to American business, primarily banks, automobile manufacturers, and insurance companies. Rattner is demanding the bankruptcy court simply wipe away the money GM owes workers for retirement health insurance. Times reporters Stephen Labaton and Edmund Andrews noted that Geithner prevailed in opposing tougher conditions on financial institutions that sought by presidential aides, including David Axelrod. Obama, Rothkopf told the New York Times, was following the violin model: hold power with the left hand and play the music with the right.
