Wednesday, February 10, 2010

Wall Street Wants a Refund

By Robert Scheer

"“Buyer’s remorse” is the way Sen. John Cornyn, the Senate Republicans’ fundraiser, gleefully refers to Wall Street moguls’ current disenchantment with the U.S. president they thought they had bought....

While his base was distracted with a never very bold health care proposal, designed to mollify the insurance companies while providing at least the appearance of universal health care, Obama ceded the genuinely populist cause in the midst of a banking meltdown by coddling Wall Street. It was only a year into his administration, at a point when the banks had obviously failed to deliver on a promise to aid distressed homeowners and increase lending, that Obama in direct response to adverse poll results once again sounded the populist notes of the early months of his primary campaign.

And for that too-little-too-late response to the catastrophic economic crisis they caused, Wall Street titans will now take Obama to the woodshed to teach him and the Democrats a lesson about who’s really in control. "

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