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Obama's Attempt To Use #OWS As A Diversionary Smoke Screen Fails: 56% Believe Washington To Blame For Crisis And Recession

Tyler Durden's picture


Zero Hedge is the last to cut Wall Street, with its rampant criminality, conflicts of interest, and corruption, any slack - in fact we are often the first to expose it. That said, we have long found it surprising that popular anger is focused on this particular group of individuals, instead of targeting the just as, if not far more, culpable for the current economic collapse enabling focal point known as Washington D.C. As has been discussed previously, it is no surprise that none other than the president has been quick to embrace the Occupy Wall Street movement and its offshoots as his own: after all it cleanly and efficiently deflects attention from his own near-3 year performance as president. Surely Obama is neither the first (nor last) to recognize that the scapegoating of a "minority" group (as the Wall Street "1%" clearly is) and use it as a catalyst for class warfare, is a historically very successful tactic. Well, while thousands of people may express their displeasure with their plight openly before the traditional symbols of Wall Street, it would appear that Obama is failing in his attempt at global diversion from the place where popular anger should truly lie: Congress, Senate, and of course, the White House, without whose (and by 'whose' here we clearly envision Tim Geithner, Hank Paulson and Ben Bernanke) blessings Wall Street would not exist in its current form. Yet it does, and many have figured that out. According to a brand new poll by The Hill, "in the minds of likely voters, Washington, not Wall Street, is primarily to blame for the financial crisis and the subsequent recession. The movement appears to have struck a chord with progressive voters, but it does not seem to represent the feelings of the wider public. The Hill poll found that only one in three likely voters blames Wall Street for the country’s financial troubles, whereas more than half — 56 percent — blame Washington. Moreover, when it comes to the political consequences of the protest, voters tend to believe that there are more perils than positives for Obama and the Democrats." Sorry Obama, your attempt to demonize bankers (who richly deserve the public pariah status they have achieved, not least of due to the in vitro world they occupy, where anything less than $1 million is pocket change) has failed, and the people recognize that real social change, one that must and will impact Wall Street, has to begin with the commodity most often purchased  by Wall Street: politicians... such as yourself.

From The Hill:

A plurality believe that the Occupy Wall Street movement will hurt Democrats and Obama in the 2012 election. Even those whose sympathies lie on the left of center seem unsure about the likely political repercussions. Just half of all liberal likely voters — the group most likely to blame Wall Street for the recession — and fewer than half of all Democrats believe the protests will help their side next year.


The split on the question of apportioning blame for the nation’s economic travails corresponds closely with voters’ political ideologies: More than 7 in 10 conservatives blamed Washington for the recession, while more than 5 in 10 liberals blamed Wall Street.


But self-identified centrists, importantly, appear to be siding with the right on economic issues, with nearly half blaming Washington for the recession.


The difference also reflected voters’ views of Obama: Among those who “strongly” or “somewhat” approve of the president, most blamed Wall Street, while those who “strongly” or “somewhat” disapprove of the president blamed Washington.


Interestingly, those who described themselves as “not sure” about Obama nonetheless blamed Wall Street over Washington by a more than two-to-one margin, 55 percent to 23 percent.

The poll was based on the responses of 1,000 people and has a +/-3% margin of error. The full poll results are below.



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Mon, 10/17/2011 - 17:14 | 1782971 Freddie
Freddie's picture

ACORN and CRA lawsuits by community organizers forced the banks to lend to people who could not repay.  This is a bigger reason than McMansions.

Mon, 10/17/2011 - 17:36 | 1783077 g
g's picture

I agree, those were contributers for sure to the debacle. Everyone had to get their cut apparently.

Mon, 10/17/2011 - 16:04 | 1782620 TheAkashicRecord
TheAkashicRecord's picture

Wall Street and USGov't do not exist in their own tidy vacuums.  Both entities interact with each other in profound ways.  When you isolate the entities in your analysis (ie. it's Wallstreet's fault vs it's Washington's fault), your analysis is already faulty.  You have to examine the feeback loop that exists between entities (ie. Wall Street and Gov't).  The dividing lines are drawn in this way (is the the fault of Wall Street or Government?) for a reason, to perpetuate the Republican vs Democratic narrative, those who pull the strings need you to believe this narrative.

Our government is increasingly representing the interests of fewer people which is a byproduct of wealth being held by fewer people who use this wealth to influence government to their advantage.  This is the feedback loop of death.  Allowing for the translation of economic power into political power as an intrinsic quality in the system is not a good idea and must be ended. 

Instead, we get Super PACs (one manifestation of FEC v Citizens United, Republicans, Independents, and Democrats were all STRONGLY opposed -- 70-80%), where unlimited money can be raised by supposedly non-partisan entities which are fronts for injecting union and corporate money into the political process. 

"...after the restoration of democracy from oligarchical coups, the Athenians used the drawing of lots (sortition) for selecting government officers in order to counteract what the Athenians acutely saw as a tendency toward oligarchy in government if a professional governing class were allowed to use their skills for their own benefit.[5] They drew lots from large groups of adult volunteers as a selection technique for civil servants performing judicial, executive, and administrative functions (archai, boul?, and h?liastai).[6] They even used lots for very important posts, such as judges and jurors in the political courts (nomothetai), which had the power to overrule the Assembly"

It's an idea, but then again, it would require our populace to be educated and rational.  40% of people in this Country (Pew poll 2010) believe Jesus is coming back by 2050, that should probably preclude you from sitting at the grown-up table and helping to determine the future of our species.  External salvation ain't comin' folks, neither technology nor the Sky Zombie are going to save us. 

Mon, 10/17/2011 - 15:56 | 1782624 jjsilver
jjsilver's picture

Polls are meaningless. They are  easliy manipulated like everything else including voting results, drug trials, the news and especially this one. The market goes down, gold goes down, dollar goes up, bonds go up. On cue, we are all supposed to believe the dollar and bonds are being sought as a safe haven over gold; Everything is an illusion.

Mon, 10/17/2011 - 15:57 | 1782627 Problem Is
Problem Is's picture

Wall Street May Be The Crooks
But we all know who the puppet of the Crooks... The Teleprompter-in-Chief is...

Why just the other day Obama Bin Lyin' was saying:

"On the issue of prosecutions on Wall Street... a lot of stuff wasn't necessarily illegal, it was just immoral..."

Is "stuff" a legal term, there Harvard law grad Barry?

21st Century Richard Nixon
Bald face liar, war escalator and warmonger (after "Peace with Honor" campaign), war criminal and all around dirty trickster... then there is:

CREEP -- Committee to RE-Elect the President

Richard Nixon 1972 = Barry Soetoro 2012
Tricky Dick and Bullshit Barry have so much in common...

I think OWS knows who the worthless Wall Street shill is...

Mon, 10/17/2011 - 16:02 | 1782651 boooyaaaah
boooyaaaah's picture

What Came First

The Bankers figuring out that they could buy the government

or the Government figuring out that with bank financing & printing

they no longer needed to beg the tax payer for money.

And once the taxpayer could no longer say ENOUGH it was over for the great expirement The USA




Mon, 10/17/2011 - 16:08 | 1782680 just a dude
just a dude's picture

Anybody, any group, any journal or any blog that portrays our problems as being solely the result of Wall Street OR Washington, D.C., is practicing divide and conquer, wittingly or unwittingly.  The focus rightly belongs on BOTH.

Mon, 10/17/2011 - 17:19 | 1782998 just a dude
just a dude's picture

Judging from many (possibly most) of the comments on this thread, divide and conquer continues to work as it always has.  To those of you commenting here that there is no distinction between the criminal yin that is Washington, DC and the criminal yang that is Wall Street, bravo.

Mon, 10/17/2011 - 16:14 | 1782691 Monedas
Monedas's picture

Monedas' Thumbnail History of Socialism:  1. The criminally perverse conception !  2. The bloody revolution !  3. The Euphoria, raping, pillaging and firing squad ! 4. Agricultural reform and wealth confiscation ! 5. The exuberant childish belief they could beat Capitalism ! 6. The discontent and deprivation of failure ! 7. The exportation years 8. The exploitation years ! 9. The struggle against National Socialism ! 10. The renaissance of belief that they were on the right path ! 11. The  co-opting of Wars of National Liberation ! 12. The consternation of seeing South Korea out produce the Soviet Union ! 13. The corruption of the party with western luxuries ! 14. The realization that they were falling behind further each year ! 15. Hopelessness turns to hate ! 16. The "If we can't beat 'em....we have to destroy 'em !" years ! 17. The Clinton's make Marxism fashionable ! 18. Michael Moore makes Marxism look stupid, slovenly and fat ! 19. Monedas begins to ridicule and question the Altruism of Socialism ! 20. Rush Limbaugh gets on board !  21. Monedas kicks back on the beach and enjoys the fruits of his labor !  22. A committee is formed to replace Stalin's stature with one of Monedas on his Schwinn Beach Cruiser !  23. Monedas discovers panty liners ! Monedas 2011 Schweinfurt Ball Bearing 

Mon, 10/17/2011 - 16:14 | 1782701 TuesdayBen
TuesdayBen's picture

I had Obama pegged even before the '08 election as an entirely empty suit, but he has turned out to be an even bigger pooch-screwer than I'd anticipated.  If OWS leads to spilled blood, Obama's hands will be thoroughly bloodstained, and I doubt he'd even appear on the ballot next year.  I think he's toast in any case due to the growing recognition that he is an ineffectual boob without any leadership skills.

Mon, 10/17/2011 - 17:20 | 1783005 Freddie
Freddie's picture

OWS is ACORN 2/SEIU and Obama's New Black Panthers.  More Cloward/Piven.

Mon, 10/17/2011 - 16:13 | 1782702 Joebloinvestor
Joebloinvestor's picture

I ruined a friends day by reminding her that Barry can come back in four years (if he loses) as "Barry lite".

He could run on a platform of being "smarter" the next time.

Don't think it can't happen, check out our 22nd and 24th president.

Mon, 10/17/2011 - 16:19 | 1782729 dick cheneys ghost
dick cheneys ghost's picture

The banks run the economy..........not wash dc............



Mon, 10/17/2011 - 16:33 | 1782792 Rob Jones
Rob Jones's picture

Instead of "Occupy Wall Street", how about starting an "Empty Your Bank Account" movement? Withdraw any excess money which is currently earning near-zero interest and put it in a safe-deposit box. Starve the bankers.

And move your checking account to a S&L. They generally offer a better deal than the TBTF banks anyway.

Mon, 10/17/2011 - 16:58 | 1782877 323
Mon, 10/17/2011 - 16:36 | 1782798 andyupnorth
andyupnorth's picture

Occupy Montreal!

Occupy Toronto!

Occupy Ottowa!

Mon, 10/17/2011 - 17:01 | 1782905 Absalon
Absalon's picture

Compared to the crap on Wall Street, Bay Street is squeaky clean.  There is not as much basis for an OWS demonstration in Canada as there is in the US.

Mon, 10/17/2011 - 16:36 | 1782799 docmac324
docmac324's picture

Non violence my ass, lets kick some.


Mon, 10/17/2011 - 16:38 | 1782802 bamf1411
bamf1411's picture

Ya think the country is doin good now?  Just wait till one of these other power hungry idiots that want to run the world get in.  Mitt? Ron? or maybe his kid?  Don't make me fart.  As for the rest that are running and those in the senate and congress, Vote em out.

Mon, 10/17/2011 - 17:22 | 1783016 Freddie
Freddie's picture

Moron.  Obama and his govt and corporate union scum have bankrupted the country.  F off.

Mon, 10/17/2011 - 16:41 | 1782816 MFL8240
MFL8240's picture

Brilliant Tyler, this is great.  

Mon, 10/17/2011 - 16:43 | 1782822 blindman
blindman's picture

here the real problem for the 99%. the final solution
for the fascists.
How The Fiat Money Ponzi Scheme Works
this is why nothing works anymore.

Mon, 10/17/2011 - 16:45 | 1782827 the not so migh...
the not so mighty maximiza's picture

Obama should just take a dump on a police car hood, power to the people yo.


Mon, 10/17/2011 - 16:47 | 1782831 Caveman93
Caveman93's picture

Yeah it's Washington's fault. Three reasons: 1) Loan Guarantees 2) Mandates 3) Subsidies. Any questions?

Mon, 10/17/2011 - 16:59 | 1782890 Absalon
Absalon's picture

You can blame Washington for deliberately leaving the door unlocked but it is still Wall Street that snuck in and stole the silver ware.

Mon, 10/17/2011 - 16:59 | 1782896 j0nx
j0nx's picture

Yeah and the dumb mofos will go right back out and vote for the same bought and paid for piece of shit politicians all over again come November 2012. I see it every election here in my state and my district. The same old RINOs get reelected every single time. Most of them handily. Same thing at the state level. Same old clowns who do nothing but stimey promising bills get reelected every other year. It's maddening.

Mon, 10/17/2011 - 17:00 | 1782898 loveyajimbo
loveyajimbo's picture

Replace the corrupt AG with William Black and the corrupt fag Geithner with David Stockman... and watch things get better, FAST. Send this request to your congress worms...

Mon, 10/17/2011 - 17:46 | 1783088 htp
htp's picture

Wall Street is the owner. Washington is the management team. Managers are picked by owners. Together they loot the people/workers.

It's not that complicated.

Mon, 10/17/2011 - 18:02 | 1783173 gwar5
gwar5's picture

Sadly, the whole point of OWS has been so the Community-organizer-in-chief's can scapegoat the banks for the economy instead of him. Document dumps show his gagle of so people were planning and organizing this for a long time. Their next step is to ramp it up with violence, which is tragic.   

Problems with the Obama's OWS strategy: Obama got more money from the squids than anybody and gave them everything they wanted. Trillions... plus Frank-Dodd put the taxpayers on the hook for the next guaranteed blow-up.... Plus, the new (unaccountable) Fed secret police at the new CFPB, run by the Fed, will make sure "all your money is belong to them."

I agree with OWSs who want to end the Fed and break up the Squid TBTFs, and unmask the government cronys that enable them. Sadly, that message is being lost. 

Alas, OWS is now so steeped in the dirty underwear soup of the leftists driving this scapegoat-seeking car that even the National Socialist Democratic Workers of America (NAZI party USA), the CPUSA (Communist Party USA), Nation of Islam (Black Panthers), Iran, and even Al-Qaida are all on Obama's side against evil "rich jews." 

If it's all about giving the Jews a term for the Kosher wurst (pun intended) then how about we start with Geithner and lock him up for not paying his "fair share" of taxes?

Mon, 10/17/2011 - 19:02 | 1783391 Jerry Denim
Jerry Denim's picture

Fuck Obama and yes, big fat double fist fuck to Washington, but seriously, "scapegoat" Wall Street???

You do realize a scapegoat is an INNOCENT one who is wrongfully smeared with the guilt and crimes belonging to others? 

How the fuck can you say:

"Zero Hedge is the last to cut Wall Street, with its rampant criminality, conflicts of interest, and corruption, any slack..."

AND THEN turn around and in the same breath claim Wall Street is just a poor innocent misunderstood Scapegoat??? Rampant corruption, criminality and I would like to add nasty, inhuman GREED does not make one innocent or sympathetic, and hardly a "scapegoat"

If Washington is corrupt (which of course it is) it is only because it is the dumping ground for a good sized chunk of Wall Street's ill gotten gains.

Wall Street is the problem and DC is the enabler. Turn down the Schizo man and face the truth ZH screams about every day.

Mon, 10/17/2011 - 19:17 | 1783453 faustian bargain
faustian bargain's picture

Wall Street is the problem and DC is the cause.

Fixed it for you.

Mon, 10/17/2011 - 20:02 | 1783563 barroter
barroter's picture

Wall St the innocent victim here? AHA HA HA HA HA!  God, these attempts to point ALL the blame at DC is amazing.  I guess K Street is forced, FORCED I tell ya into bribing politicians by politicians themselves. There are NO corporate purchases of lobbying services by any business at all.

You see, Wall St, the Banks...are as innocent as the driven snow. Now just believe that and all will be OK.

Mon, 10/17/2011 - 19:18 | 1783458 Stares straight...
Stares straight ahead's picture

I hope Billy Banzai is reading this.

Mon, 10/17/2011 - 19:21 | 1783468 barroter
barroter's picture

Occupy the Elite..the ones who killed this economy in the first place...

Mon, 10/17/2011 - 20:55 | 1783705 JR
JR's picture

The Occupy Wall Street protests are growing stronger and lefties from Pelosi to Soros want to be in the parade to hit the current financial system...

Oh wait! It’s the Democrats who control the presidency, and the Senate, and the appointments to the Supreme Court, and the appointments to the regulatory agencies. It's the Democrats who support Wall Street’s every whim!

That’s the problem for Rush Limbaugh and other Neocon Establishment broadcasters who label the Occupy Wall Street protesters hippies, racists (anti-Semites) and bums… they’d like to show this is a Democrat attempt to attack capitalism and Republicans. But, with the Obama Administration’s 100 percent surrender to the Bob Rubin Rothschild playbook, the Limbaugh Neocons are only proving what we’ve known all along. They’re for war and the money-printing machine that makes it possible.

If these Establishmentcasters don’t like the OWStreeters, who do these big government conservatives like? The neocons (former Democrat Trotskyites such as Bill Kristol who took over the Republican Party leadership to solidify a One-Party System in DC that supports Israel, War and Empire)? Or, hey, maybe they do like how Wall Street works these days.  Maybe they do like the financial nobility.  Maybe they do like Goldman Sachs. Maybe they do like lobbyist-controlled elections.

Otherwise, wouldn’t they like to occupy Wall Street, too?

Tue, 10/18/2011 - 00:59 | 1784185 Peter K
Peter K's picture

Obama is OWS and OWS is Obama. It's the Obama electoral base - i.e. the 1% of the 20% of the US that identify themselves as Liberal, in the bad sense of that word. But I guess we have an election coming up, and the most inept man-child president of all time needs 4 more years to finish cutting the US of A down to size. So we need the circus's, and voulas, we have em. 

Tue, 10/18/2011 - 01:24 | 1784209 Peter K
Peter K's picture

And the reality sets in. OWS is nothing but the Democrat/MSM industrial complex attempt to create their own Tea Party.

Tue, 10/18/2011 - 08:30 | 1784599 blindman
blindman's picture
“Jump You Fuckers” unplugged, plus master maxmix

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