Sunday, October 31, 2010

Obama really, really, needs to distance himself from the big banks

For what it's worth, my unscientific and non-statistically-valid poll of independents in my area (mostly at work) indicates that they are very disappointed with Obama's handling of the banks. My read on this is that he's much too concerned about hurting the banks than he is about the continuing suffering of homeowners.  Yes, there are homeowners that overreached what they could afford.  But, there are many, many others that are simply caught up in the crisis. They need to be the focus of assistance, not the banks.  If Obama doesn't stop listening to wall street's cries of the risks of "lower productivity of the financial system" (and, God forbid, bonuses that are not 7 figures), he is ensuring that he'll be a one term president.

Hell, maybe that's what he wants.  I wouldn't want his job.

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