The new administration has been staffed primarily by big business executives. In fact, there has not been an administration so deeply connected to big business and the banking community since that of Herbert Hoover, which was ended by the election of Franklin Delano Roosevelt in 1932.
And the new president has wasted no time in serving the needs of big companies and banks. Yesterday, he backed down on his campaign pledge to cut carbon dioxide emissions, one of the major causes of global warming. This comes after the U.S. refused to sign the Kyoto treaty on the environment and has asked for a delay in upcoming world environmental conferences.