9 economic crisis, presidential candidate Barack Obama was perceived as a sort of Messiah who could bring the “change” that the wide array of global justice movements were demanding from the Bush administration. However, after a year in power, this optimism waned. In the wake of a new electoral campaign, this paper seeks to analyze US-Latin American relations during Obama’s first term. It is contended that the Obama administration represents the continuity of the system, “more of the same” rather than “change”, a fourth moment of the New Pax Americana.