Obama goes back to his Wall Street-bashing rhetoric in today's 60 Minutes on CBS, after he has already doomed this country to tens of trillions in excess debt to make sure that Wall Street not only thrives, but prospers, courtesy of Bernanke's vertical bond curve and the daily destruction of the dollar. With statements such as "I did not run for office to be helping out a bunch of fat cat bankers on Wall Street" which the WSJ disclosed will be uttered by Obama shortly, only the most clueless viewers will find empathy with Obama's latest message of banker "anti-hope."
And it is not only Obama, but Wall Street protege Larry Summer himself who continues the banker bashing:
White House economic adviser Larry Summers also voiced aggravation
with Wall Street on Sunday. "Here is what I think they don't get…It was
their irresponsible risk-taking in many cases that brought the economy
to collapse," Mr. Summers, who chairs the National Economic Council,
said on CNN's "State of the Union."
"And they don't get in some cases that they wouldn't be where they
are today, and they certainly would not be paying the bonuses they are
paying today, if their government hadn't taken extraordinary actions."
"For them to be complaining about serious regulation directed at making
sure this never happens again is wrong. For $300 million to be spent on
lobbyists trying to gut serious efforts at financial reform is not how
this country should be operating," Mr. Summers said. "For firms that
have benefited from taxpayer support to be complaining about the
government burdening them is, frankly, a bit rich."
First you bail them out, and now you bash them? It is one thing to dash criticism upon rhetoric but at least be consistent. If people can not read between the lines of this administration's endless hypocrisy, they deserve all they get. And if Matt Taibbi's latest controversial piece in Rolling Stone "Obama's Big Sellout" needed any final validation, you just provided it Mr. President. Because while your Wall Street-centric policies can be explained by your lack of financial comprehension and private-sector experience (thereby justifying your desire to be "advised" by those who are an integral part of the banker syndicate), your complete disdain for the average American's intellectual level exemplified by your most recent, upcoming 7 pm TV appearance is what is truly insulting. Maybe you can put Mr. Geithner up there next to you on the TV screen, and he can justify his reasoning for why incremental "fat cat" bonuses are such a bad idea. Come to think of it, why not make it into a round table, and include Larry Summer and Robert Rubin: we are confident they will have no problem distancing themselves from the very bankers they talk to 10 hours a day, telling them (and thus you) how to run national policy.
You say "Some people on Wall Street still don't get it"... The problem, Mr. President, is that more and more people on Main Street, do get it. They now realize just whose agenda you have at heart. And said Main Street expects nothing but merely more theatrics during your upcoming meeting with Wall Street "fat cats" tomorrow.